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Aston Martin sells 38% stake to Italians to raise cash
Fri, 07 Dec 2012Aston Martin today announced a deal with Italian private equity fund Investindustrial, securing a £150m investment to own a 37.5% stake in the business. Aston Martin hopes this should secure the long-term future of the beloved but hitherto financially wobbly sports car maker. Together with the new owners, it announced a £500m investment in future product.
Chrysler 300, Dodge Charger recalled to fix electric problem
Mon, 07 May 2012Chrysler is recalling almost 120,000 Dodge Charger and Chrysler 300 sedans from the 2011 and 2012 model years to fix an electrical-system problem. The problem is with a fuse in the power-distribution center, according to the National Highway Traffic Safety Administration. If the power center overheats it could lead to a loss of antilock brakes and electronic stability control, which could lead to a crash.
Experts predict nine-, 10-speed transmissions to dominate in North America
Mon, 13 May 2013In March, luxury maker Land Rover proudly told an audience at the Geneva auto show that it would soon bring to market the industry's first nine-speed transmission. One month later, Ford Motor Co. and General Motors announced that they would jointly develop 10-speeds.