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Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

Classic car prices on the up: Jaguar D-type sells for £3 million

Classic car prices seem to be ever-rising, with historic models becoming an investment to rival buying property or gambling on the stock market. The inaugural RM Auctions Paris sale this week was a case in point, and resulted in nearly £15 million’s worth of the world’s rarest and most exotic cars going under the hammer. Four cars alone went for in excess of £1 million, and a Jaguar D-type sold for three times that amount.

New Porsche 911 GT3 (991) technical highlights (video)

Ahead of its arrival with customers, Porsche has delivered a new video of the GT3 designed to make it clear just how some of its technical highlights work to make the GT3 swifter and more nimble than ever before. Power is of course the key to the GT3 – 468bhp and 324lb/ft of torque – but the power is no good unless the GT3 can put that power down as efficiently as possible in all circumstances. Porsche assert that the GT3′s chassis is engineered for Motorsport, and key elements of the new GT3 make it even more able.