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Ford agrees to sell Aston Martin

Ford 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.

GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

Interior Motives magazine reboots

This evening saw the launch of Car Design News' all-new specialist interior design publication Interior Motives magazine.  Senior designers gathered together at Le Sip nightclub in Geneva for the annual Auto Design Night were among the first people in the world to get a look at the Spring 2009 relaunch edition of Interior Motives, which features a completely new treatment and a cutting-edge design format conceived to give readers an exclusive look behind the scenes of the most important interior designs unveiled during the last few months. Published every quarter, the new Interior Motives magazine features never-been-seen photos, sketches, renderings and breakdowns of the build process, offering unparalleled insight into the thinking behind these important new interiors and the people that created them - both at OEMs and the suppliers they collaborated with. The perfect accompaniment to Car Design News' up-to-the-minute news, interviews, essays, auto show coverage and detailed online design reviews, Interior Motives breaks new ground in the publishing sector, providing unparalleled depth and incisive quotes from the people and companies that are pushing interior design in new and exciting directions.