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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.

Next-generation Chevy Volt to have 60-mile electric range?

On the heels of the recently announced price cut for the 2014 Volt, General Motors chief executive Dan Akerson is suggesting that we may see a Volt with 60-mile electric range in three or four years. In an interview with Bloomberg, Akerson suggests that GM is hoping for a "significant" improvement in the extended-range Chevy's ability to run solely on electric power. “For something to be significant to me, I gotta get at least 20 percent improvement in performance," the CEO asserted.

Nissan teases all-new 2014 Qashqai crossover

Nissan has revealed a teaser image of the next Qashqai, the all-new second-generation version of its ground-breaking crossover, which is due to go on sale in 2014. The real thing is set to be unveiled on Thursday 7 November 2013, and Nissan is promising the new Qashqai will “redefine the crossover sector and set new standard across the board.” On Bing: see pictures of the Nissan Qashqai Find out how much a used Nissan Qashqai costs on Auto Trader This is no small matter for Nissan – in fact, the firm describes the new Qashqai as the most significant car in its modern history, the original version having defined an entirely new sector of the marketplace. If the Qashqai didn’t strictly invent the crossover concept, it certainly made it popular beyond even Nissan’s wildest dreams, offering buyers an SUV-style image with the running costs and driving dynamics of a conventional family hatchback and the practicality of a people carrier.