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Chrysler sold in £3.76 billion deal
Thu, 17 May 2007By 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.
MINI celebrates 100 years of car production in Oxford
Fri, 08 Mar 2013MINI will be celebrating a century of car production in Oxford on 28th March 2013, 100 years since the first Bullnose Morris Oxford was produced. It’s 100 years since the first Bullnose Morris Oxford rolled out on 28th March 1903, since when 11,655,000 cars have been built – with as many as 28,000 people employed in its heyday – and even Tiger Moth planes and Iron Lungs built alongside 80,000 repairs to Spitfires and Hurricanes during WWII. What is now MINI’s Plant Oxford was founded by William Morris – and Morris Motors kept control until 1952 – and has been owned and run by BMC, then British Motor Holdings (when Jaguar arrived), British Leyland (when Leyland Trucks, Triumph and Rover joined), nationalisation in the 1970s saw a variety of names, Rover Group arrived in 1986 and was subsequently privatised and sold in 1994 to BMW.
Nissan Patrol breaks obscure Guinness World Record
Mon, 26 Aug 2013The Nissan Patrol, a cooler-looking version of the Infiniti QX80 with a Nissan front end, broke a Guinness World Record on Thursday at Sharjah International Airport in the UAE. The nearly 3-ton truck pulled a 170.9-ton cargo plane for more than 164 feet (50 meters), breaking the previous record for “Heaviest aircraft pulled by any production vehicle” by 15 tons. The previous record was attributed to the Volkswagen Touareg that pulled a Boeing 747 at 155 tons.