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Fire sale continues: Ford cuts stake in Mazda

By Tim Pollard Motor Industry 18 November 2008 16:09 Yesterday GM sold its stake in Suzuki; today Ford announced plans to slash its shareholding in Mazda. Previously the Blue Oval held a third of Mazda’s stock, but it has cut that to just 13%. Ford admitted the sale was purely to boost its balance sheet, as the Big Three continue to struggle with cashflow.

Hyundai future products: New entries seek upscale niches

Hyundai will continue to enter new product segments, including upscale niches, while keeping lower-priced models fresh over the next three years. The Veloster sporty coupe will join the lineup this fall, and a turbocharged version comes next summer. A redesigned Azera sedan debuts in the final weeks of this year, and a two-door Elantra will go on sale next spring.

Boca Raton concours to honor Milhous brothers

Well-heeled car fans will be able to get their hands on some highly coveted autos when the Milhous collection goes up for auction on Feb. 24, in a multiday sale that coincides with the Boca Raton Concours d'Elegance. Bob and Paul Milhous of the Milhous Museum will be honored with the Lee Iacocca Award at this year's concours, a distinction that goes to individuals who have perpetuated the American automotive tradition in their dedication to classic-car preservation.