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Ford completes sale of Volvo to China's Geely

Ford said today it has completed the sale of Volvo Cars to Zhejiang Geely Holding Group for $1.8 billion. Divesting Volvo completes Ford CEO Alan Mulally's strategy of exiting European luxury brands to focus on the core Ford brand, following the U.S. carmaker's 2007 sale of Aston Martin, and of Jaguar and Land Rover to India's Tata Motors Ltd.

McLaren GT comes home to Woking in England

The picturesque town of Woking, Surrey, in the south of England is home to the McLaren Technology Center (MTC), the McLaren Automotive factory that builds the MP4-12C supercar and, soon, a dedicated facility for McLaren GT. McLaren GT is a branch within the McLaren Automotive Group, started in 2011, that supplies MP4-12C GT3s for competition. The space is a 60,000-square-foot facility that housed McLaren Racing from 1987 to 2004.

Report: Chevrolet Cruze, Toyota Corolla lowest lease payments in May

The Chevrolet Cruze and Toyota Corolla sedans offered the lowest average monthly lease payments in May, according to records by Swapalease.com. On average, Chevy Cruze lessees paid just $214 per month, while average Toyota Corolla lessees paid $234. Records show the cheapest alternative fuel vehicle's lease is the Chevrolet Volt at $315.