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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.

Ford recalls 2013 Escape, Fusion

Ford Motor Co. is recalling about 89,000 2013 Ford Escape crossovers and Fusion sedans with 1.6-liter engines that may overheat and cause fires. Ford estimates that the voluntary recall covers about 73,320 Escapes and 15,833 Fusions in the United States and Canada.

Mazda MX-5 Kuro Special Editions

Mazda has released yet another special edition MX-5 for the UK market in the guise of the Mazda MX-5 Kuro.  Yes, it’s yet another special edition MX-5, this time the Mazda MX-5 Kuro which comes as either a 1.8 litre soft top or a 2.0 litre Roadster Coupe. It seems the Japanese like the idea of ‘Black’ Special Edition cars as much as we do in the West (Kuro means black in Japanese), with the last ‘Kuro’ special being the Nissan Juke Kuro. But oddly Mazda are offering the MX-5 Kuro not just in black but also in Velocity Red Mica and Crystal White Pearlescent, with the ‘Kuro’ bits referring to the Brilliant Black roof, door mirrors and dark gunmetal 17″ alloys.