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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.

Volvo XC60 at Geneva

By Ben Whitworth Motor Shows 04 March 2008 13:31 So what’s new on Volvo’s Geneva Motor Show stand? It’s all about the new XC60 on the Volvo stand. Based on the V70/XC70 architecture – there’s no commonality with Ford’s new Kuga – the XC60 is the SUV with a conscience.

VW Group planning 10-speed DSG, new powerful diesel engine & more plug-in hybrids

The end of the internal combustion engine is nigh, they say, as the world tries to clean up its environmental act and works towards a goal of electric motors to power our personal transport. But car makers are fighting that belief by extracting more power for less fuel from ICE engines, and there’s still a very long way to go before the ICE engine is consigned to the history books. Volkswagen has already reduced the fuel consumption of both their diesel and petrol engines by 30 per cent since 2000 and plan a further reduction of 15 per cent by 2020.