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Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

MINI Crossman / Countryman on schedule

The MINI Crossover Concept. On target for a Geneva launch as the Countryman or Crossman The MINI Crossover – dubbed Crossman or Countryman – has been floating around as a ‘Concept’  since the Paris Motor Show in 2008. We even reported on the MINI Crossman testing back in April, and it’s been expected to launch for quite some time, so to say it’s ‘On Schedlue’ is probably a little misleading.

Catch the Arizona auction action even if you're not there

This is the big weekend for car auctions in Arizona. Thousands will soak up the desert sun to see a wide spectrum of vehicles cross the auction block. But many more of us won't be there.