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Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

Crunch watch Dec 09: the auto industry in crisis

Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 30 December 2009• Saab's PR chief told AN that GM is extending the deadline for a sale to 7 January – and the Trollhattan factory will resume limited manufacturing in early January to build the new 9-5 and some 9-3 cabrios (Automotive News, subscription required)• Last night Bloomberg reported a Saab board member claiming that the 31 December deadline for a Saab sale or closure 'is not holy'. If GM receives a bid that is 'sufficiently interesting', it'll extend the deadline, said the Saab suit (Automotive News, subscription required)• GM is offering massive discounts on Pontiac and Saturn cars, as it seeks to get rid of the remaining stock from these terminated brands.

Buy a Spyker Bond and get a cheap Spyker B6 Venator

Buy a Spyker Bond and get a cheap B6 Venator (pictured) Last year, Victor Muller seemed to have pulled off something of a coup for Spyker by delivering concepts of the B6 Venator Coupe and Spyder to much acclaim, which looked like a car that could kick-start Spyker’s rather troubled business model. After a foray in to Saab ownership, Victor Muller lost Spyker to CPP, but CPP’s reliance on finance from Victor’s pal Vlad the banker proved to be CPP’s downfall and Victor emerged, somehow, back in control of Spyker. But despite Victor’s legendary ability to schmooze finance from the most unlikely sources, it seems he’s run in to a bit of trouble with financing production of the Venator, so he’s come up with a plan that looks to be a cross between a lottery and crowd funding.