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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.

Audi Urban Future Summit: Interactivity in the future city

The Audi Urban Summit is an international convention bringing together experts on urban mobility and development to discuss one central question: Which energies and forces will change the city of the future in 2020 – and what relationships will exist between these forces? Held in Frankfurt, just prior to the city's auto show, the summit aimed to hold an open discussion that was ‘free from preconceptions about how cities and mobility can be shaped in a suitable and sustainable way in the future'. Workshops focused on three key themes: Energies of data, energies of social relations and energies of resources.

Volkswagen Beetle (2011) first official pictures

After 11 long years on sale the New Beetle is dead – its successor is this, The Beetle. We'll just call it the new 2011 VW Beetle. 2011 VW Beetle: trading flower-power for outlaw rodder Wider, lower and longer, the 2011 Beetle abandons its predecessors three semi-circle styling for the flat-roof look of 2005’s hot rod-inspired Ragster concept. At the front, the Beetle adopts the corporate horizontal intake styling and a more angular front bumper melded with a less curvaceous evolution of the 1998 New Beetle styling template.