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Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

MOT test scrapped for Classic Cars

MOTs scrapped for Classic Cars The Department for Transport has announced it is scrapping MOT tests for cars registered before 1960. In a move that probably won’t make much difference to owners – but will at least cut down on red tape – the Department of Transport has announced that from 18th November 2012 owners of cars registered before 1960 will no longer require an annual MOT. The argument for the change is that owners of classic and historic cars have a much lower accident and MOT failure rate than other vehicles on the road.

Ford C-Max & Grand C-Max 2015 FACELIFT revealed – debut at the 2014 Paris Motor Show

Ford C-Max & Grand C-Max 2015 FACELIFT revealed Ford has been busy grafting their new grill on to cars across their range recently, and the latest models to get the ‘Gaydon Grill’ (and other tweaks) are the C-Max and Grand C-Max – Ford’s 5 and 7 seat MPVs based on the Focus – revealed today ahead of a debut at the Paris Motor Show next month. As you’e expect, the changes amount to pretty much what we’ve seen with the Ford Focus facelift, so there’s a new grill to make the Ford statement accompanied by new headlights and bonnet. Round the back the tailgate has been given a slicker, simplified makeover, there’s a new bumper and smaller lights.