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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.
2015 Nissan Murano touches down at New York auto show Wednesday
Mon, 14 Apr 2014Nissan Motor Co.'s revamped Murano crossover will reach U.S. showrooms this year looking almost identical to the splashy auto show concept that teased it more than a year ago. The automaker -- recalling the positive consumer reaction after the Murano's debut in 2002 -- is banking on the racier design to snag attention from new customers in one of the industry's most competitive light-truck segments.
New Ford Kuga production increased to meet strong demand
Thu, 04 Apr 2013Ford has revealed that it having to increase production of the new Kuga by 10 per cent at its Valencia Plant to meet strong demand. We reported in February that Ford were chuffed with sales of the new Kuga - especially as almost all buyers were opting for ‘premium’ versions – with orders for almost 2,000 in the UK just weeks after the Kuga went in to production in Spain, and sales across Europe for the Kuga up 27 per cent year on year. So Ford is now doing the only thing they can to deal with the burgeoning sales of the Kuga and are upping production in Valencia by 10 per cent, and now expect to build 100,000 new Kugas this year for Europe alone.