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Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

Fiat to offer two spinoff models based on the 500L for 2014

Fiat unveiled two new versions of its popular 500L in its home market a couple months ago, the 500L Living and 500L Trekking editions, both designed for different audiences. While the 500L Trekking will have adventure in mind, offering a taller ride height and protective bumpers, the 500L Living will be an ideal car for young families. For the 2014 model year, Fiat will be offering both of these in the U.S.

Be our 10,000th Facebook fan and win a six-month subscription!

With our Facebook page's 'Like' count continuing to rise, we're rapidly approaching the magic 10,000 mark. To celebrate we're offering a free six-month subscription to Car Design News to our 10,000th fan. We've been updating our page with archived material from auto shows stretching all the way back 2000 and in celebration of the ever-rising number of Facebook ‘Likes' we've decided to give away the fantastic prize of a free six-month subscription to the one who takes us to the five digit mark.