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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.

2013 Subaru Forester: Price from £24,995

The new 2013 Subaru Forester, which debuted at the Los Angeles Auto Show in November, will cost from £24,995 in the UK for the Forester 2.0D X. Those improvements for 2013 include new bumpers and a bigger crease down the side, some new alloys and more toys, like a new Infotainment centre and a SatNav with reversing camera. But the big news is that the new Forester gets a new engine option too, a new 2.0 litre turbo petrol good for 240PS which should make the Foresters ‘last forever’ appeal more enticing when you can have fun forever too.

Who's Where: Jason Castriota joins Stile Bertone

Contrary to what was previously disclosed, Car Design News has now confirmed that Jason Castriota, who left his position at Pininfarina on the eve of the Paris Motor Show in September, is set to become Design Director at Stile Bertone. He will start his new position on December 1. Castriota had initially intended to set up his own design consultancy before being approached by Bertone.