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News watch August 2010: today's industry news
Thu, 26 Aug 2010Welcome 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.
Red Bull race in L.A. draws 111,000
Mon, 28 Sep 2009No one really knows the precise makeup of the stuff that fills those ubiquitous Red Bull energy drink cans, but the compelling mixture seems to make people accomplish extraordinary things. For instance, on Saturday in Los Angeles, it got the city to shut down a long stretch of Grand Avenue and part of 5th Street for the wacky and spectacular Red Bull Soapbox Race Los Angeles. These events have been held regularly since the inaugural race in Belgium in 2000.
Hamana, hamana, hamana… SOLD!
Sat, 17 Jan 2009The first thing that hits you driving over the hundreds of miles of desert on the way to see the monster Scottsdale classic and collector car auctions every January is the HUGE number of motor homes scattered willy nilly all across the sand and rocks like dice. Every winter Arizona sprouts fields of Winnebegos and Hitchhiker IIs like big, rectangular wildflowers, only less pretty (Not counting the requisite lion and dolphin murals airbrushed on the backs, what are those about, anyway?). Can snowy winters in Saskatchewan really be that bad?