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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

2013 Toyota Auris leaks

The next generation Toyota Auris (Toyota Corolla) is due to debut this year as a 2013 model, and we get the first leaked photo. We know that a replacement for the Toyota Auris is on the horizon and we’re expecting it to make a public debut (at least in Europe) at the Paris Motor Show in September before going on sale by the end of 2012. But now, thanks to a Japanese Magazine scan, we have a pretty good idea what Toyota’s new Auris/Corolla is going to look like, and it seems to be the current Auris with a dose of Lexus thrown in for good measure.

'Ford shouldn't sell Jaguar/Land Rover'

By Tim Pollard Motor Industry 30 January 2008 15:01 A majority of CAR Magazine Online users reckon that Ford is making a mistake by selling Jaguar and Land Rover. Nearly 60 percent of our website users say the Blue Oval shouldn’t flog its premium-badged crown jewels, according to our exclusive online poll. Ford is poised to announce the sell-off in the next few weeks; a decision is currently tipped for the end of February 2008, according to chief executive Alan Mulally, although deals of this epic scale can sometimes drag on for even longer.