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Chrysler, Mopar hope Ram Runner kit can challenge Ford SVT Raptor

In an effort to compete with the Ford SVT Raptor off-road pickup, Chrysler and parts group Mopar have released the Ram Runner kit. The Mopar Ram Runner kit, available for owners of 2009-2011 Dodge Ram 1500 models, can be installed at home or by the dealer for a total parts cost of just less than $20,000. The Ram Runner upgraders on a budget can add kit elements individually as well.

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.

Jaguar Land Rover drops plans to close one of three England plants

Jaguar Land Rover said Friday it no longer plans to close one of its three auto plants in England after reaching an agreement with trade unions. The automaker, which Ford Motor Co. sold to India's Tata Motors in 2008, said it would be significantly increasing the number of models in its range and creating thousands of jobs over the next decade.