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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.
Lotus to unveil new clothing line
Mon, 24 Jan 2011Lotus will launch its Lotus Originals brand of outerwear, knitwear and leather goods on Feb. 23 during London's fashion week, the automaker said on Monday. The new line will include cashmere sweaters and hand-stitched leather jackets inspired by 1970s driver suits.
Nissan GT-R beats its Nurburgring record – more to come today?
Fri, 17 Apr 2009The jubilant Nissan GT-R team celebrates their new lap record at the Nurburgring [ad#ad-1] The Nissan GT-R is indeed an impressive car. It offers real supercar performance for what appears to be a relatively modest price. Admittedly it still costs an arm and a leg to service, and with exchange rates as they are at the moment it will become less of a bargain, but it’s certainly chucked a very big spanner in to the works as far as the more established Supercar makers are concerned (Porsche in particular had plenty to say about the last time the GT-R set).