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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.

VAT-free Alto offer extended

YOUNG car buyers have some early festive cheer to celebrate, with the announcement that Suzuki has extended its ‘VAT-free’ offer on the cute Alto city car model until the end of the year. The deal effectively takes £1,200 off the list price of the entry-level Alto SZ. That makes the five-door runabout just £5,999 to buy, and with a low deposit of £779 it can be driven away for £99 per month.

Hyundai Equus headed for U.S. market, targets Lexus LS sedan

Hyundai plans to bring its Equus luxury sedan to the United States next July. About 100 units of the Equus are being evaluated this summer by U.S. dealers and consumers.