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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.

CDN announces second edition of Car Design Glossary

Car Design New has now published the second edition of the Car Design Glossary. Designed to enable budding designers  - and those wishing to describe the products of the designer's imagination - to decipher the language used in automotive studios, the Glossary was devised by David Browne, Course Director of Automotive Design at Coventry University School of Art & Design. He created the compilation of terms as an academic piece of research and collaborated with CDN to help generate feedback on these terms from designers themselves.

Lexus NX compact SUV production starts – first UK deliveries October 2014

The first Lexus NX rolls off the production line We’re not entirely sure the new Lexus NX – revealed in production guise at the Beijing Motor Show in April - will be one of the most driver-focused compact SUVs, but it is a car that should see Lexus sales rise considerably. And the NX is now starting to roll off the production line at Lexus’s Miyata plant in Japan, and Lexus say they already have 6,500 orders for the NX in Japan, and a more modest 350 in the UK. The big seller in the UK – in the absence of a diesel NX – will be the NX 300h with its hybrid setup of a 2.5 litre petrol engine, electric motor and CVT gearbox, but despite promises of good economy (55.4mpg) the real world economy is likely to be significantly less, although its high headline economy will help BIK rates for business buyers.