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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Porsche Macan will sell 75,000 a year

The Porsche Macan – Porsche’s more compact SUV, based on the Audi Q5 – looks set to sell at a rate of 75,000 cars a year. The new Porsche Macan - the Porsche Cajun as was -  already looked set to take Porsche sales to another level with projected sales of 45,000 a year from 2013, but it looks like that ambitious target is going to be exceeded. German weekly WirtschaftsWoche is reporting that Porsche’s procurement boss, Uwe-Karsten Staedter, has put Porsche suppliers on notice that they are expecting to sell 75,000 Macans a year by the end of 2013 – an increase of 2/3rds on the original sales predictions.

2014 Beijing Motor Show: weird and wonderful Chinese cars

The Chinese auto industry might not be the most important in the world yet, but it’s getting there. It’s already the top market for a large number of top-tier brands like Mercedes-Benz, and the industry has progressed to the point where companies including Nissan are setting up brands specifically to cater to the needs of Chinese buyers. But as far as Chinese brands go, things are very much a work in progress.