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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.

Mazda CX-7 gets sporty makeover for Europe

By Ben Whitworth Motor Industry 29 September 2006 03:13 Mazda is scrabbling to ready a muscular 170bhp turbodiesel engine for its new CX-7 crossover, which arrives in Europe next summer. Although the five-seat 4x4 will initially come with a 258bhp version of the Mazda 6 MPS's turbocharged 2.3-litre four, European market demands for diesel power mean Mazda will unleash a new 2.2-litre version of its four-cylinder diesel. This engine will be hooked up to a slick six-speed manual or five-gear automatic transmission.

Malaysian Grand Prix Qualifying: Vettel on pole for Red Bull

Another rain soaked qualifying at the 2013 Malaysian Grand Prix saw Sebastian Vettel take pole for Red Bull, beating the Ferrari’s of Massa and Alonso. It’s always sunny in Australia,  but it wasn’t last week for qualifying in the Australian Grand Prix. And this weekend hasn’t been much better in Malaysia.