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Chrysler sold in £3.76 billion deal
Thu, 17 May 2007By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.
2012 Buick Verano compact teased
Thu, 07 Oct 2010Buick is teasing its future compact sedan called the Verano. A picture of the small car was released on Thursday along with the news that General Motors would spend $145 million to upgrade a factory in Lake Orion, Mich., to build the Buick and a Chevrolet small car. The Verano would be a 2012 model.
Drink-and-drive deaths down in 2007
Fri, 08 Aug 2008By Tom Richards Motor Industry 08 August 2008 12:08 The latest figures from the Department for Transport show the number of people killed in drink-driving accidents in the UK fell in 2007. According to the data the number of fatal accidents dropped by 16 percent from 2006 to 2007 (from 490 to 410), while the number of deaths in these accidents fell 18 percent (down to 460 in 2007 from 650 in 2006). But while the number of deaths is going down, hospitals are still being kept busy as drink-drive casualties rose from 11,840 in 2006 to 12,260 in 2007, a jump of four percent.