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Ford agrees to sell Aston Martin
Wed, 14 Mar 2007Ford Motor Company announced this week it has entered into a definitive agreement to sell Aston Martin, its prestigious UK sports car business. The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait. The sale is expected to close during the second quarter and the transaction values Aston Martin at GBP 479 million ($925 million). As part of the transaction, Ford will retain a GBP 40 million ($77 million) investment in Aston Martin.
Upcoming Volvo XC90 gets new safety tech
Wed, 10 Jul 2013The Volvo XC90 has been with us for 10 years now -- a long time indeed when it comes to product life cycles of comparable upmarket SUVs. The stylish sport utility was a popular seller in North America for a good part of that decade, and for a while was even offered with a 4.4 liter V8 engine developed by Yamaha and shared with the second-gen S80 (a first for a Volvo passenger car). But if there's one thing Volvo is known for, it's not V8 engines -- it's safety.
Quarter of UK cars' brakes 'could fail without warning'
Tue, 05 Aug 2014MORE THAN a third of all cars in Europe have brakes that could fail without warning, according to a new report. Research carried out for Cosan Lubricants’ Mobil Car Care range, at independent service garages across the UK found that 26.5% of UK motorists had defective brake fluid, with nearly one in 10 unintentionally risking their lives every time they drove. The research tested the quality of brake fluid – the liquid that allows the modern braking system to work.