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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Geely president Li Shufu admits disputes with Volvo managers

Three months after becoming the new owner of the Swedish car brand Volvo, Zhejiang Geely Holding Group Co. President Li Shufu said he disagrees with Volvo's management about its product plans. Speaking last week at a forum hosted by the Chinese Web site of the Financial Times in Shanghai, Li said that Volvo should develop large cars for China.

Lexus RX450h hybrid - 2012's facelift goes on sale

Lexus has refreshed its RX premium off-roader with a slew of new gadgets, a facelifted snout, a few small engineering upgrades and extra equipment. Sold in the UK only as the RX450h hybrid, you'll spot the new 2012 edition by the addition of the Lexus 'spindle' grille, as seen on recent concept cars such as the LF-LC from Detroit 2012. The rear lamps are redesigned, too, although if you blink you may indeed actually miss them.