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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Midsize 2015 Chevy Colorado coming fall 2014

Chevy introduced the 2015 Colorado pickup on Monday at the Los Angeles Auto Show. The midsize truck is expected to deliver class-leading power, payload and trailering rating when it goes on sale in fall 2014, at least according to the Bowtie. Chevy hopes the Colorado will be the most powerful midsize truck (in an admittedly small segment) thanks to its three-engine lineup.

Ford, GM work together on new nine-, 10-speed transmissions

Ford Motor Co. and General Motors are developing nine- and 10-speed transmissions jointly for use in cars, crossovers, pickups and SUVs. The rivals say partnering on the automatic front- and rear-wheel-drive gearboxes will get them to market faster and cheaper than each automaker could do on its own.