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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.

Clunkers claims hit $1.15 billion Monday, government says

Dealer claims for cash-for-clunkers rebates continued to climb late last week after it became clear that the program would get $2 billion in new funding. Dealers had submitted 273,077 applications totaling $1.15 billion as of Monday morning, the Department of Transportation said today. That's about $120 million above the figure of last Friday morning.

One Lap of the Web: Nine cars you'll drive in hell, airbag watermelon destruction and luxury, Soviet-style

-- After carefully weighing the options, Motor Authority has arrived at a list of the nine cars you'll drive in hell. The Aztek is an easy (if misunderstood) target, and the Renault Fuego makes sense on the basis of its name alone but there are a few unexpected additions, too -- like the Tesla Model S, which won't be easy to keep running because “… Hell is a lot like the San Francisco airport--roughly five thousand people and their 25,000 battery-powered devices, all fighting for a pull off Hell's only functional power outlet.” -- Don't ask us why, but we're fascinated with old Soviet steel, from the no-nonsense heavy duty trucks the crappy Cars of the People. The supposedly luxurious, Packard-inspired Chaika M-13 limousine sits somewhere between the two, and you can read a Special Interest Auto article on the car at Hemmings.