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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.

Audi A5 ‘Suicide’ Advert – Fake

The Audi A5 Suicide Avert has been dubbed a fake by Audi of America Doing the ‘Viral’ rounds over the last few days on the interweb has been a video for the Audi A5 ‘Clean Diesel’ which really didn’t seem to fit in to the non-contentious Audi mainstream ethos we are used to seeing. A carefully crafted image can easily be decimated by one careless word or deed (Gerald Ronson springs to mind) and, amusing though some of us with a sicker sense of humour found the A5 ad, we couldn’t see how Audi would sanction it – even just for online use. The advert features a man driving an Audi A5 in to a deserted car park.

Range Rover Sport TDV6 SE dropped in the UK

The entry-level Range Rover Sport TDV6 SE has been dropped in the UK It’s not quite a year since the new Range Rover Sport arrived courtesy of James Bond in New York, and a lot less than that since it started appearing on the road. But if you’ve been saving hard to get yourself in the entry-level Range Rover Sport TDV6 SE – Land Rover’s £51,550 entry-level Sport – you need to think again. It’s been dropped.