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UK car sales up 11% in May (2013)

The Ford Fiesta (pictured) was again the best selling car in the UK The rise and rise of new car registrations in the UK continues to defy the rest of the economy, with figures up in May 2013 by 11 per cent year on year, and private sales up a massive 20.9 per cent to levels last seen in 2007. It’s the fifteenth month in succession new car registration have risen in the UK, with sales for May at 180,111 and total sales to date in 2013 hitting almost 1 million units, at 948,666. The SMMT think the big jump in private registrations is down to a number of factors, including cars bought under the scrappage scheme now being traded in for a new car, strong incentives from car makers and the promise of new cars offering lower running costs, and they’re probably right, although there are other factors in play too.

Why we love Maximum Bob: A column by Dutch Mandel

In announcing that he will leave General Motors at the end of this year, product czar Bob Lutz bows out gracefully and elegantly and does it in the style that forged his legend. It's also a move made none too soon and if not hastened by Beltway functionaries, then punctuated by it. But make no mistake: Bob Lutz is not running from the fight engulfing Detroit and the rest of the automaking world.

Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.