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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.

Report: New-vehicle purchase price on the rise

The average purchase price of a new car is on the rise, according to a recent report from automotive analysts at truecar.com. The average transaction price for passenger cars and trucks in the United States was $31,087 last month, up $339 from March 2012. Transaction price, or the out-the-door price, includes taxes, titles and fees.

No promises, crash footballer told

A JUDGE told a former Premier League footballer on Tuesday that he could "make no promises" as he faces a prison sentence of up to two years after admitting dangerous driving. Ex-Watford, Wigan and Sheffield United striker Marlon King pleaded guilty at Nottingham Crown Court to a charge of dangerous driving after a three-car crash left a motorist with a broken arm. King committed the offence on his 33rd birthday while driving a Porsche Panamera on the A46 in Nottinghamshire on April 26 last year.