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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.

2013 SRT Viper: Preparations for the new snake begin in the Motor City

If it's possible to have a favorite factory for enthusiasts, the Viper plant in Detroit would definitely rank among the top five. And preparations will soon begin to ready the plant for the relaunch of the SRT Viper in late 2012. That's right: The famous Dodge supercar will officially be badged the SRT Viper, a move that breaks from the car's 22-year heritage.

Smart ForTwo Edition Highstyle hits UK

The Chocolate Brown Smart ForTwo Edition Highstyle hits the UK The Smart Edition Highstyle is a colour throwback to the seventies, based on the ‘Passion’ Spec. You get chocolate brown paintwork and 15″ alloys, with some aluminium-look ‘Highstyle’ badges thrown in. But I suppose that’s the problem with getting older.