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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.

Mini unveils new Cooper and Cooper S at LA Auto Show

Mini unveiled its Mini Cooper earlier this week, but this is the first time we've had a glimpse of it stateside. What's there to say about the Mini? Well, it's not so mini anymore -- it grows by 4.5 inches, 1.7 inches wider, and about half an inch taller.

Porsche makes £14k on every car it sells, Bentley makes £12.7k

Porsche made £14k on every car sold in 2013 If you need an illustration of how much more profitable high-end sports and luxury cars are than mainstream cars, VW Groups sales figures demonstrate it perfectly. At the extreme ends of the profit per car spectrum, Porsche made an enviable £13,931 for every car it sold in 2013 and VW made just £615 (although SEAT actually lost £330 on every car it sold) . In fact, although you might expect the higher-priced Bentley range to make more per car than a Porsche, Bentley only managed a creditable second place on VW Group’s profit per car table, turning in £12,700 profit for every car it turned out (11,000 of them in 2013).