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News watch August 2010: today's industry news
Thu, 26 Aug 2010Welcome 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.
Opel offers glimpse at futuristic Monza concept car
Fri, 12 Jul 2013Opel is about to show us a glimpse of its future with the Monza concept car, which will be revealed at the Frankfurt Motor Show later this fall. The Monza, a nameplate we haven't seen for a while, will preview Opels of the near future, showcasing technology and design rather than being a production-ready car. But some of the styling will surely trickle down to the company's road cars.
Porsche Macan 2.0 litre 4-cylinder coming to the UK – but not Europe
Fri, 02 May 2014The Porsche Macan 2.0 litre Turbo will be available in the UK Porsche quietly revealed their first car with a 4-cylinder engine in almost a generation at the Beijing Motor Show last month with the arrival of the Porsche Macan 2.0 litre turbo, produced to mop up sale in China. China’s tax system mitigates against thirstier, bigger-engined cars, so a 2.0 litre turbo attracts tax at less than half the rate of the 3.0 litre V6 in the Macan S, so it will be the big volume model for China. But the demand from China for the 2.0 litre Macan means Porsche won’t have the capacity to build it for other left hand drive markets, so Europe won’t be getting the little-engined Macan.