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Chrysler investigated after collapse of Getrag deal

The state of Indiana is investigating Chrysler LLC for securities fraud over the collapse of a joint venture with Getrag Transmission LLC. Jim Gavin, a spokesman for Secretary of State Todd Rokita, today confirmed a Kokomo Tribune report that said the investigation began two weeks ago. "There have been no complaints or allegations made," the paper quoted Rokita saying in a speech Tuesday.

180,000 'lied over motor insurance'

NEARLY 3,500 cases of motorists lying on their applications for insurance or deliberately leaving relevant information off them are being uncovered by insurers each week, new figures reveal. Some 180,675 attempts to make fraudulent applications for motor insurance as people tried to get cheaper cover than they were entitled to were detected last year, equating to around 3,475 incidents a week, according to data released by the Association of British Insurers (ABI). These claims were exposed as lies by the insurer either at the point when the person applied for a policy, or after they had obtained cover and had gone on to make a claim.

Toyota talks powertrain plans

After trailing many of its competitors in the recent engine- and transmission-technology wars, Toyota Motor Corp. will launch a swath of powertrains in the next several years, a top powertrain r&d executive said. Koei Saga, senior managing officer in charge of drivetrain r&d, said that Toyota is investing heavily in turbocharged engines, larger displacement Atkinson cycle engines, continuously variable and fixed-gear automatic transmissions, and new hybrid and fuel cell technologies.