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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.

Hyundai Genesis sedan loses an engine option, gains more tech for 2013

Hyundai is dropping the 4.6-liter V8 in the Genesis sedan lineup for 2013. The 5.0-liter V8 will continue in the R-Spec model, while the rest will get Hyundai's 3.8-liter V6. Hyundai has also enhanced the optional eight-inch Driver Information System, which is now more intuitive, with a rotating joystick, better voice recognition and improved navigation-screen layouts.

Jaguar & me: high-maintenance love

In a fit of madness a few years ago, and seeking solace from impending divorce at the time, I purchased a gorgeous blue Series III XJ6, with wonderful dark blue leather upholstery, that was at the time about five years old. Just 40,000 miles on the clock. I then drove the hell out of it for three years to 100,000 miles and it never let me down once – on the road that is.