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Tesco Cars shuts up shop

Tesco Cars closed for business A year after launching Tesco Cars in conjunction with Carsite, Tesco reveals it is to close the used car operation. Tesco Cars was one of the latest Tesco sideways moves to use its vast revenues to dominate more and more business sectors in the UK. But it’s come to an ignominious end just twelve months after it was launched, piggy-backing on the existing Carsite business to try and flog used cars to customers who would rather deal with a big supermarket than a back street car lot.

Alfa's North America return pushed to 2013

Alfa Romeo's return to North America has been delayed at least a half year partly because Fiat-Chrysler CEO Sergio Marchionne is not satisfied with the design of the cars that will lead the brand's comeback in the crucial market, people with direct knowledge of the matter told Automotive News Europe. The delay also is a serious blow to Alfa in Europe because without the Giulia mid-sized sedan and station wagon the automaker will have one of the weakest premium brand lineups in Europe. Alfa parent Fiat S.p.A.

Spyker, Youngman agree on joint venture

Dutch supercar maker Spyker and the Chinese Youngman Group have agreed on a joint venture to build a new super sport utility vehicle and a group of sedans based on Saab's Phoenix platform. The SUV is scheduled to hit the market by the end of 2014, while no dates for the Phoenix-based sedan were announced. Youngman will invest 10 million euros in Spyker, 7 million of which will be for stock shares constituting 29.9 percent of the supercar company.