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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.

Jaguar XF 2012 Spy Photo

Camouflaged 2012 Jaguar XF It only seems like five minutes since Jaguar started its style Renaissance with the very good Jaguar XF. Gone was the pastiche of past glories – the Jaguar S Type – and in came a perfect rendition of a contemporary, 21st century Jaguar. Jaguar dared to shed the shackles of its past to produce a cool and contemporary car, which has shown that Jaguar can still make one of the best ‘Executive Expresses’ in the world.

Bugatti Veyron Grand Sport Sang Bleu unveiled at Pebble Beach

Bugatti has inveiled the Bugatti Veyron Grand Sport Sang Bleu at Pebble Beach But Bugatti has brought something new. Sort of new, anyway. It’s yet another Bugatti Veyron special edition.