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Chrysler posts $370 million net loss on costs tied to repaid loans

Chrysler Group LLC, after recording its first post-bankruptcy profit three months ago, posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans. Chrysler incurred a charge of $551 million in paying back the U.S. Department of Treasury and the Canadian loans that kept the automaker afloat in 2009.

'Monster' Tajima breaks his own record at Pikes Peak International Hill Climb

Nobuhiro "Monster" Tajima used the extra pavement to his advantage and smashed his old Pikes Peak International Hill Climb record by more than 10 seconds on June 26, with a finishing time of 9 minutes, 51.278 seconds. Tajima's old record of 10 minutes, 1.408 seconds was set in 2007. Hyundai driver Rhys Millen came in second in the Unlimited class with a time of 10 minutes, 9.24 seconds.

Motorists still not switched on to electric cars

Renault A new survey of 3,000 British motorists suggests there is still a long way to go before electric cars become a serious purchasing choice for the majority, with many saying the government isn’t doing enough to promote them. According to the latest Auto Trader Owner’s Guide, only 1% of UK drivers own what it calls an Alternative Fuel Vehicle (AFV). The poll also illustrates some significant age and gender divides, and shows that price continues to be a serious hindrance to more environmentally friendly motoring.