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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.

Daihatsu Copen revised

By Tim Pollard First Official Pictures 14 March 2007 09:08 The Daihatsu Copen - a Suzuki Cappuccino for the 21st century? Britain's cheapest roadster has been given a massive engine boost, after Daihatsu chopped the 660cc engine in the Copen for a 1.3 twin-cam. The Copen was conceived under Japan's K-car rules for short micro cars with engines under 0.7 litres, and its right-hand drive status meant it was imported to the UK market.

California considers pay-as-you-go auto insurance

There are pay-as-you-go cell phones and all-you-can-eat buffets, and somewhere in between slots a new auto insurance concept under consideration in California. The proposed regulations would allow insurance companies to offer coverage plans paid for by the mile, in addition to traditional plans. The idea is to allow consumers to pay for what they use--and potentially save money.