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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.

F1: Back in the U.S.A. 2012

The F1 Grand Prix Circus returns to the USA in 2012 The Americans have never really fallen in love with Formula One in the way the rest of the world – and particularly the Europeans – have. They have plenty of race series of their own, many arguably more exciting. Which you would think would be a good enough reason not to worry too much about the lack of a US Grand Prix on the calendar since the last one in Indianapolis in 2007.

Porsche Boxster Speedster – on its way

A Porsche Boxster 'Speedster' spotted at the Nurburgring It looks like the Boxster Speedster (or maybe Boxster R?) will get the double-hump behind the seats and be a stripped-out and more powerful version of the current Boxster. Could it get more power as well as being lighter? Hard to say, but we can live in hope.