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News watch August 2010: today's industry news

Welcome 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.

Toyota Yaris Hybrid-R concept stars at the 2013 Frankfurt Motor Show

Frankfurt 2013 is all about efficiency for Toyota, celebrating 16 years and more than 5.5 million worldwide sales of its hybrid vehicles. So the Japanese firm has gone crazy to applaud its own technical innovation over the years, dropping a 414hp hybrid powertrain into its Yaris supermini this, is the Toyota Yaris Hybrid-R concept. Please click on the image above to read more on the Toyota Yaris Hybrid-R concept

McLaren P1: Middle East demand outstrips supply & new P1 photos

So the opening of McLaren Manama –  a joint venture between McLaren Automotive, Mumtalakat, and Al Ghassan Motors - at the Bahrain World Trade Centre is an opportunity to get the P1 front and centre as McLaren promotes both the new showroom and the upcoming 2013 Bahrain Grand Prix. But it won’t just be the P1 in McLaren’s new Bahrain showroom, it will also be the getting the Formula One gloss too with the MP4-25 – Jenson Button’s car in his 2010 season with McLaren – going on display to garner footfall in the new showroom. To give us a reason to report on the new showroom in Bahrain, McLaren has released more images from the photo shoot earlier this year at the Bahrain International Circuit when they were busy drumming up interest in the P1, and they’re such beautifully lit and shot images we couldn’t not publish them.