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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.

VW New Compact Coupe at Detroit motor show 2010

This is Volkswagen’s New Compact Coupé (or NCC for short), a new coupé concept car just unveiled at the 2010 Detroit Auto Show. And although it’s just a show car for now, this gorgeous A5-alike two-door is expected to go into production within the next two years. Under the bonnet is a 148bhp/177lb ft direct-injection and turbocharged 1.4-litre TSI engine, which drives the front wheels via a seven-speed DSG gearbox.

Mercedes C-Class Coupe: Official

Mercedes C-Class Coupe - Officially revealed Actually, it’s taken longer than we thought for the Mercedes C-Class Coupe to become officially official. We thought Mercedes were going to take the C-Class Coupe along to the Detroit Motor Show at the start of January, especially after we had a leaked photo of the C-Class Coupe a few days before the show. But no.