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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.

Video shows Audi R18 'long tail' e-tron quattro's blistering Monza run

Audi has had a pretty solid run at the 24 Hours of Le Mans over the past decade, but we're glad they keep pushing the envelope. That's how they keep devising road-going spaceships like the staggeringly fast R18 e-tron quatto equipped with a “long tail” aerodynamic package. This quick video of the “long tail” hybrid testing at Monza gives us a preview of what we can expect at Spa next month -- and hints at what we'll see at Le Mans in June.

Infiniti G Convertible

The second-generation Infiniti G37 coupe - badged Nissan Skyline in Japan - was previewed by the Coupe Concept at the 2006 NAIAS show and debuted in production form at the 2007 New York Auto Show. Now, at the 2008 LA Auto Show, the convertible version has appeared with a three-part folding hardtop, following BMW's lead with the conceptually similar 3-Series cabriolet. Powered exclusively by a 3.7-liter V6, the G37 convertible comes with a specification that includes leather seats, a 'power walk-in' device that electrically moves the front seats out of the way to help ingress and egress to the rear, and air-conditioning that automatically detects whether the roof is up or down.