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Chrysler says it needs another $2 billion in aid

In submitting its viability plan to the federal government on Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs. Chrysler said it will reduce fixed costs by an additional $700 million, cut 100,000 more units of production capacity, discontinue three more model lines and sell $300 million more in assets.

New Subaru WRX STI aiming for a new Isle of Man TT lap record

The new Subaru WRX STI (pictured) is heading to the IoM Three years ago rally driver Mark Higgins went off to the Isle of Man with the last generation Subaru WRX STI and set a new record for a car round the TT course. And he’s about to attempt to beat that record in the new WRX STI. The current record round the challenging TT course is 19m 56.7 seconds – at an average speed of 115mph – a truly astonishing pace for a standard road car on a difficult and challenging road course.

75,000 Irish drivers left uninsured after policy provider collapses

TENS OF thousands of motorists in Ireland have been warned their insurance policies may be useless after the collapse of an insurer. The Central Bank has urged policy holders with Setanta Insurance to switch their cover after the Malta-based company went into liquidation. It is believed as many as 75,000 motorists are insured by the firm in Ireland, which is popular among smaller businesses who use vans for their deliveries and trading.