Motor briefs
Deal agreed on Chrysler debt
THE US Treasury has reached an agreement with Chrysler's largest lenders that may help the troubled carmaker avoid bankruptcy, sources briefed on the discussions said yesterday.
The terms of the high-stakes debt restructuring deal were not immediately available, and representatives of Chrysler, the lenders and the Treasury could not be immediately reached for comment.
Chrysler's lenders, owed $6.9 billion in secured loans, have agreed to write down the debt to $2 billion, the Washington Post reported earlier yesterday. The news comes as Chrysler races to meet tomorrow's deadline to complete an alliance with Italy's Fiat SpA and follows a deal with worker unions. - Reuters
Mobile-operated car-sharing scheme pioneered in UK
MOTORISTS HOPING to car share could soon find their nearest lift on their mobile phones. Academics in Britain are looking at ways of increasing the number of people who share cars in an effort to cut congestion and pollution. Car-sharers would upload their details onto a database, accessible online via mobile phones.
GPS technology would mean cars and journeys could be tracked on an online map. A fellow subscriber would then find their nearest car-sharer before phoning the driver and arranging pick-up.
Social networking sites such as Facebook could also be used to co-ordinate trips. If the technology is successful, it would even be possible to specify personal preferences, such as whether to hitch a lift with a driver who listens to the radio or likes to travel in silence.
The technology is being pioneered by scientists at the University of Nottingham.
Dr Sarah Sharples, one of the researchers behind the project in Nottingham, said: “This could revolutionise the way people go about their everyday lives. We already have the technology, with sat-navs and access to the internet through mobile phones.”
Further details of Audi's expansion
AUDI’S AMBITIOUS model expansion plan seems immune from recession and the onslaught continues apace. We revealed the new A7 four-door coupé on these pages some months ago – now comes the A5 Sportback, caught testing in Germany.
Due for launch in September, it will introduce the A5 coupé to a family audience and thereby break the direct link, in terms of ranking, with the current A4 saloon. This car will take a five-door hatchback format to the model range, making it a smaller version of the upcoming A7.
In addition to this Sportback version, Audi is completing work on the flagship RS5 version, spotted (below) during tests on the challenging Nürburgring race circuit in Germany.
A new feature to this car over the RS4 is the rear spoiler that lifts out of the body at higher speeds.
Although the car’s front gives it away as an RS5, it remains unclear what powerplant those air-intakes lead cooling to. Sources indicate that the RS5 will be powered by the same twin-turbo V10 in the Audi RS6 Avant. In RS6 guise, that’s good for 580 horsepower.
No word on when the RS5 will debut, but it looks as though the BMW M6 has been put on notice.