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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.

Brilliance A3: China’s BMW X1 substitute. A Rose by any other name?

The Brilliance A3 - China's BMW X1 Lookalike The easy headline would be ‘Brilliance A3 – BMW X1 Clone’. But that would be a little unfair to Brilliance. Western car makers – as we’ve mentioned many times before – are compelled by Chinese law to partner with a local car maker if they are to trade in China.

Porsche Macan gets 2.0 litre 4-cylinder petrol engine

Porsche Macan gets 2.0 litre 4-Cylinder petrol engine The new Porsche Macan looks set to change the rules for the compact SUV market, with class best handling and dynamics and performance that beats many a focused hot hatch. But despite beliefs Porsche would offer its first 4-cylinder engine in a generation at launch, the only engines on offer were a 3.0 litre diesel in the Macan S Diesel, a 3.0 V6 Turbo in the Macan S and a 3.6 litre turbo in the Macan Turbo, with expectations that the Macan wouldn’t get a four-cylinder engine util the end of 2014. But it looks like an early arrival for the four-pot Macan with news it’s getting a new 2.0 litre 4-cylinder petrol engine which delivers 237bhp and 258lb/ft of torque, enough to get the Macan to 62mph in 6.9 seconds and offer official economy of 37.6mpg.