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Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

Honda Vezel Compact SUV goes on sale in Japan

Honda Vezel Compact SUV (pictured) goes on sale in Japan The Honda Vezel – the production version of the Honda Urban Concept – arrived at the Tokyo Motor Show last month as Honda’s take on the Nissan Juke, and it’s now gone on sale in Japan. Honda are claiming to cover allk the bases with the Vezel, stating it offers “the dynamic qualities of an SUV, the elegance of a coupé and the functionality of an MPV”. A car for every man (and woman), no less.

Volvo to launch new F1-inspired engine range

Volvo has revealed an all-new super-efficient range of engines called DRIVE-E. When launched later this year, the new motors will become some of the most high-tech engines on sale. Uniquely, the new engine range is based around just two basic four-cylinder designs – one direct-injection petrol engine and one common rail turbodiesel.