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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.
Qoros reveals design language ahead of Geneva debut
Wed, 05 Dec 2012New car manufacturer Qoros' future design language has been revealed ahead of the world debut of its new sedan for China and Europe at the Geneva motor show in March. The brand's first production car will be showcased alongside two concept cars that will preview the future design direction of Qoros' range. The company was created in 2007 by a 50:50 joint venture between Chery Automobile and Israel Corporation, allowing the Qoros designers the chance to create a new design language from scratch.
Seat Ibiza Ecomotive
Wed, 12 Sep 2007By Ben Barry Motor Shows 12 September 2007 07:28 Seat Ibiza Ecomotive: the lowdown Even the Spanish went green at Frankfurt. Using the Polo BlueMotion’s 1.4-litre TDi engine, longer gear ratios and Dunlop tyres that generate less friction, the Ibiza Ecomotive will deliver 74.3mpg and emit just 99g/km CO2, meaning it is tax exempt and, should Ken Livingstone’s recent proposals be approved, get into London’s Congestion Charge zone for free. Performance figures are yet to be announced, but expect 77bhp, 144lb ft torque, a 0-60mph time of around 12.8sec and a top speed of 109mph – figures in line with the Polo.