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Some secured lenders object to quick sale of Chrysler
Mon, 04 May 2009A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.
Citroen DS5 – First video tease?
Fri, 27 Aug 2010Citroen DS5 Hybrid diesel electric – is the video below the tease for the concept? Despite our original scepticism (grumpy old man syndrome) that Citroen were intent on wrecking their history by cashing in on the DS tag – and badge engineering prosaic product with an iconic badge – we’ve been pretty much won over by the first offering from the upmarket DS range – the Citroen DS3. So we were happy to see Citroen pushing forward with the next in line- the DS4 -with its DS4 / High Rider Concept which we saw at Geneva earlier this year.
Opel Ampera preview
Tue, 27 Jan 2009Opel has released a teaser sketch of its new five-door extended-range electric car ahead of its public debut at the Geneva Auto Show in March. Based on the Voltec powertrain and chassis architecture of Chevrolet's Volt, the Ampera promises to surpass that car in terms of style by some margin. The body appears to be nearly identical between the A- and C-pillars, but the deformed horseshoe-shaped headlamp design and two-bar grille come straight from the 2007 Flextreme concept, as do the car's tree-branch alloy wheels.