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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.

A fun car steers brand loyalty, study shows

Car buyers stick with their current brands if the automaker builds fun-to-drive vehicles, a customer-retention study revealed. The J. D.

Hyundai's Super Bowl ads highlight speed

Having been batted about regarding their fuel-economy claims, Hyundai has decided to use their Super Bowl ad dollars to highlight the raw power of the Sonata Turbo and the Genesis R-Spec sedan. We find the above Sonata ad a whimsical piffle, featuring a couple utilizing their family sedan's turbocharged 2.0L four to handily pass obnoxious/dangerous motorists. We're partial to the whipping, slimy ropes of dog drool.