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News watch August 2010: today's industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourTuesday 31 August 2010• HSBC has sold its US car loan business to Spanish bank Santander, for an estimated £2.6bn in cash and assumed debt. The move sees the bank further distance itself from the collapsed US sub-prime market (Financial Times, subsription required) • Toll roads do not improve congestion, according to the Campaign For Better Transport. Its claims M6 toll road operator Midland Expressway Ltd is losing ‘tens of millions of pounds’ each year, while conditions on the original M6 have failed to improve (Campaign for Better Transport) Friday 27 August 2010• Spyker, which bought Saab earlier this year, has posted a €139m loss after tax in the first half of 2010 it announced today (Financial Times)• Fiat CEO Sergio Marchionne says the business is performing strongly in the third quarter – and has ruled out selling Alfa Romeo.

New Audi S3 Sportback arrives ahead of Geneva 2013 debut

The new Audi S3 Sportback - the five-door S3 – has been revealed ahead of a debut at the 2013 Geneva Motor Show. The new S3 Sportback gets the same 2.0 litre turbocharged engine as the S3, which means 296bhp on tap to be delivered to all four wheels through the standard six-speed gearbox or the optional six-speed dual-clutch S tronic. If you want to unleash the best performance from your S3 Sportback you will need to dig a bit deeper for the S tronic ‘box, with the self-shifter taking just 5 seconds to 62mph it’s a full half second quicker than the manual.

Top Gear in Italy with Aventador, McLaren MP4-12C & Noble M600 + video

Top Gear in Lecce filming a supercar piece We already know that Top Gear’s Christmas Special is in India this year, so the video showing the Top Gear team filming in Lecce, Italy, with the Lamborghini Aventador, McLaren MP4-12C and Noble M600 must be for the new series of Top Gear, which kicks off on January 12th 2012. Lecce is an historic Italian city in the south east of Italy, full of Baroque architecture, tracing its history back to the Greeks and is probably most famous for its ‘Lecce Stone’, a soft and malleable limestone ideal for sculpting. None of which really matters to Messrs Clarkson, Hammond and May, although it does provide a stunning backdrop for an equally stunning set of supercars.