Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Citroen Cactus Concept revealed

The Citroen Cactus Concept (pictured) has been revealed When the Citroen Cactus Concept was teased a week or so ago, we reckoned it looked like the first look at a simpler ‘C’ range of cars from Citroen with a touch of the urban warrior thrown in. And that seems to be exactly what it is. At 4210mm long, the Citroen Cactus is a bit shorter than the C4, but gets a rufty-tufty stance and looks like a crossover made for the urban jungle.

Audi R18 TDI dominates Le Mans 2011 test day

Le Mans echoed to the sound of racing cars on Easter Sunday as teams took part in the sole scheduled test day, and Audi's new R18 coupe dominated the LMP1 class. Le Mans 2011: classes and rules changes The Automobile Club de l'Ouest (ACO), the organisers of the annual 24-hour race, made several changes to the competition classes and technical specifications for Le Mans 2011, aimed at reducing costs, raising lap times and ending the dominance of turbodiesel endurance racers. Out went V10 and V12 engines in the LMP1 (Le Mans Prototype) class, and in came new capacity limits for all engines, intake restrictors and lower turbo boost limits on existing turbodiesels. Naturally aspirated petrols units are now limited to 3.4-litres, turbo'd petrols can be no bigger than 2.0, and turbodiesels are restricted to 3.7-litres.