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Chrysler posts $370 million net loss on costs tied to repaid loans

Chrysler Group LLC, after recording its first post-bankruptcy profit three months ago, posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans. Chrysler incurred a charge of $551 million in paying back the U.S. Department of Treasury and the Canadian loans that kept the automaker afloat in 2009.

2012 Toyota Land Cruiser V8 revealed

2012 Toyota Land Cruiser V8 revealed in Japan Toyota has revealed the facelift for the 2012 Land Cruiser V8 in Japan. The European version will debut in Brussels next month. Just to be clear, it’s the Toyota Land Cruiser V8 that’s had a facelift and appeared in Japan, not the smaller Land Cruiser we also have in the UK (which gets called the Land Cruiser Prado in other markets).

London F1 Grand Prix plans completely serious, says Ecclestone

F1 boss Bernie Ecclestone says the recent publicity stunt by Santander for a London F1 Grand Prix are in fact a serious proposal. We recently saw plans for an F1 Grand Prix in London surface as something of a publicity stunt for Santander, with an impressive video (below) featuring McLaren’s Lewis Hamilton and Jenson button. The start of the London F1 Grand Prix is envisaged at Buckingham Palace and takes in the Mall, The Embankment, Trafalgar Square, Piccadilly Circus and a host of London’s iconic landmarks in a Grand Prix at night expected to attract hundreds of thousands of visitors.