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Chrysler sold in £3.76 billion deal
Thu, 17 May 2007By 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.
Watch a Lamborghini Hurac
Wed, 29 Jan 2014Some of us around the AW office mostly refuse to be moved by modern Lamborghinis, clinging to the wacky 'n' weird minimal-production maintenance horrorshows of our youth. The Sesto Elemento was a bright spot. Last year's zany Veneno at least looked interplanetary, though it still didn't capture the Barbarella-cool of the LP400.
Keyless ignition trends toward standardization
Tue, 05 Apr 2011A federal plan to require automakers to standardize keyless ignition systems in the wake of Toyota's unintended acceleration problems is likely to mirror industry guidelines issued in January, an automaker group said. Large automakers except Toyota said they already comply with the guidelines crafted by SAE International or plan to do so. These "recommended practices'' seek to counter the variation, driver confusion and safety problems that have ensued since automakers started installing push-button ignition in luxury models.