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Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

Euro NCAP finds quadricycles had “severe safety problems”

Euro NCAP has branched out from cars and crash tested a small selection of “heavy quadricycles”  – small, four-wheeled vehicles that were originally developed from motorcycles that are sometimes also known as microcars, and don’t come under the usual car regulations. Although legal for use on the road, these machines do not need to achieve the same rigorous crash test safety standards as ordinary cars. But they are increasingly seen as a fuel-efficient urban transportation alternative, and some of them can be driven teenagers as young as 16.

BMW M3 DTM Championship Edition not coming to United States

BMW is celebrating its domination of the 2012 DTM series with a special edition M3. Canadian driver Bruno Spengler claimed the driver’s title; BMW Team Schnitzer finished top in the team standings and BMW claimed the manufacturer’s title. Only 54 examples of the BMW M3 DTM Championship Edition will be offered in various international markets—but not the United States.