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Hyundai dealers will get Elantra coupe, redesigned Azera

Hyundai is continuing its recent product onslaught with two new or redesigned models to be launched by January 2012. Hyundai told dealers attending the NADA convention in San Francisco that a two-door coupe version of the 2011 Elantra will go on sale this spring and a redesigned Azera sedan will go on sale in January 2012. “They showed us a photo of it and it's gorgeous,” Doug Fox, a multi-franchise dealer who owns a Hyundai dealership in Ann Arbor, Mich., said of the Elantra coupe.

Ford engine plant builds number 10 million

Ford's 90-degree, overhead-cam Modular V8 has covered a wide spectrum since it was introduced in 1991--powering luxury cars, SUVs, pickups and high-performance sports cars. A large number of those engines have come from a Ford plant in Romeo, Mich., which has now built its 10-millionth engine--a 4.6-liter V8 that is headed for a 2010 Mustang GT. The Romeo engine plant was converted from a tractor factory.

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.