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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.

Lamborghini Sesto Elemento (2010): the all-carbonfibre concept car

Finally, after much teasing, here it is, Lamborghini’s carbonfibre concept car – the Lamborghini Sesto Elemento. Unveiled on the eve of the 2010 Paris motor show at the Volkswagen Group’s massive pre-show party, it’s a sub-1000kg supercar with a 562bhp V10, and previews the future lightweight construction methods that Lambo will use on its next V12 supercar and other future models. Sesto Elemento is Italian for sixth element, which is carbon.

Hennessey reveals Venom GT supercar

Texas tuner Hennessey Performance is taking a page out of the playbook of Carroll Shelby--drop a huge American V8 into a lightweight British chassis. The result is the Hennessey Venom GT, which melds high-performance Chevrolet Corvette and Lotus technology into a furious supercar. Borrowing from the Cobra's now-iconic template, the Venom GT broke cover on Monday and will come with the ZR1's supercharged 6.2-liter V8 modified to push out 725 hp.