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Fiat finishes buying Chrysler
Tue, 21 Jan 2014The Chrysler Group is now wholly owned by Italian carmaker Fiat. The company announced on Jan. 1 that it made a $4.35 billion deal to acquire full control of the Pentastar.
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.
Koenigsegg Agera R World Speed Records now official (video)
Thu, 01 Dec 2011Koenigsegg Agera R gets Guinness World Speed Record - Video One of the speed records set back in September by the incredible Koenigsegg Agera R has now been ratified by Guinness - 0-300-0 km/h (0-186-0 mph) in 21.9 seconds. As we say every time Koenigsegg jumps in to vision with another bonkers car or speed feat, we’re amazed at just what a handful of men with beards (except Christian von Koenigesgg – who doesn’t seem to have a hair to his name) can do from a shed in the snow of Sweden. What makes Koenigsegg even more impressive is that it’s not just that they produce a stunning looking hypercar, but that they do it all themselves.