Arias Pistons 12.5:1 Compression 82mm Bore Honda B-series on 2040-parts.com

Chrysler says it needs another $2 billion in aid

In submitting its viability plan to the federal government on Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs. Chrysler said it will reduce fixed costs by an additional $700 million, cut 100,000 more units of production capacity, discontinue three more model lines and sell $300 million more in assets.

May sales slide 4 percent on rising fuel prices, tight vehicle supplies

U.S. light vehicle sales dropped 4 percent in May--the first decline since August--as rising gas prices, inventory shortages, higher stickers and economic jitters curbed demand. The pace of sales last month--11.78 million units on an annualized basis--was the year's lowest and marked the first seasonally adjusted total below 12 million units in seven months.

Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced onSunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.