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Walnut, California, United States
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Chrysler sold in £3.76 billion deal
Thu, 17 May 2007By 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.
Hyundai HND-9 Concept at Seoul Motor Show
Thu, 21 Mar 2013The Hyundai HND-9 is a concept coupe from Hyundai, heading for the Seoul Motor Show at the end of March, and probably previews the next Genesis Coupe. The Hyundai HND-9 is, according to Hyundai, the ‘Latest luxury sports coupe’, which we assume means the HND-9 is pointing at the next generation Genesis Coupe, a car we don’t (yet) get in the UK. The HND-9 gets an evolution of Hyundai’s fluidic design (although, unlike the latest Santa Fe where Hyundai decided the new design was called ‘Storm’, the HND-9′s design doesn’t get a name) which Hyundai say is a modern reinterpretation of an elegant classic premium sports coupe.
Toyota recalls 2011 Tundras for drive-shaft safety issue
Tue, 26 Apr 2011Toyota is voluntarily recalling about 51,000 copies of the 2011 Tundra pickup to screen for a rear drive-shaft issue. Improper metal casting could cause part of the shaft to break, Toyota said. So far, Toyota is aware of one such occurrence in a customer-owned vehicle.