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Ford completes sale of Volvo to China's Geely
Mon, 02 Aug 2010Ford 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.
BMW to build front-drive sedan
Wed, 25 Sep 2013BMW boss Norbert Reithofer has surefire plans for a new front-wheel-drive entry-level sedan, falling in just below the existing 3-series sedan. The new four-door, known internally at BMW's Munich-based headquarters under the working title NES (New Entry-level Sedan), forms part of a new range of front-wheel-drive models set to join the BMW lineup in the near future. “The NES is integral to our growth plans,” a BMW insider source revealed.
A look at Buick future products
Thu, 26 Jul 2012Crossovers will take center stage for Buick in the 2013 model year. The compact Buick Encore crossover debuts in the first quarter as a 2013 model. Buick is hoping to get a jump on what looks to be a budding segment: luxury small crossovers.