Vintage Blachhawk 1/2 Drive Flex Ratchet 49995 on 2040-parts.com

News watch August 2010: today's industry news

Welcome 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.

New MINI 5-door Hatch revealed – but will you fit through the back doors?

The 5-door MINI hatch arrives We’ve already had the more BMW-like new MINI arrive, and now, for the first time, we get a MINI 5-door hatch to try and extend the appeal of the MINI range to families. The 5-door MINI gets an extra 72mm in the wheelbase and a pair of doors at the back – which do look very tight for full-size people to use – and there’s also an extra 15mm of headroom, a bigger boot and seating for three in the back. In terms of design, there’s little to choose between the 5-door and the 3-door, but the new 5-door does look a bit like the off-spring of the new MINI and the Countryman; just a little dumpy.

Daihatsu Pico

The second of Daihatsu's entourage of models is the Pico. Following the layout of a two-seat quadricycle, laid out by the Twizy, the Pico has been developed as a vehicle ‘offering the appeal that only a compact car can provide to accommodate social and environmental changes such as the aging population, regional locations and delivery businesses'. The Pico features an LED central belt that circles the vehicle, relaying information such as the Pico's speed to pedestrians and other road users.