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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.

General Motors Europe opens new Design Center

Being a car designer is often percieved as a glamourous occupation, but few people realise that this typically means working in some of the least inspiring places. Wolfsburg, Detroit and Birmingham are just a few of the locations that are home to some of the largest populations of car designers around the world. GM Europe's location in Russelsheim, Germany is also one of the less glamourous locations but the new design center building opened this week aims to redress the otherwise rather industrial feel of the place where tomorrow's Opels and Saabs are created.

Kia Cadenza (2014)

Kia's Cadenza has been unveiled at the 2013 North American International Auto Show. Designed under the direction of Peter Schreyer – now president of the company – the premium sedan has quad headlamps that flank the grille and a wide lower fascia with chrome trim accents around the fog lamps and grille. The greenhouse is framed by a chrome bezel that flares while a sharp character line that starts from behind the front wheelarch rises gently into the rear lamps.