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Ford reaches agreement to sell Volvo to Geely for $1.8 billion
Mon, 29 Mar 2010Ford 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 on Sunday 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.
Smart's $99 loan deal has big balloon payment at end
Mon, 06 Jul 2009Hoping to benefit from the federal cash-for-guzzlers program, Smart USA has set up a $99 monthly payment for buyers who use their $4,500 rebate. But there's a catch--and a hefty balloon payment disclosed only as a note to an asterisk in Smart's press information announcing the offer. The Smart financing is for $99 a month for 36 months, with a balloon payment of $6,667 due at the end.
2015 BMW M4 convertible: First look
Thu, 03 Apr 2014Meet the 2015 BMW M4 convertible, the final entry in BMW's revamped M3 and M4 high-performance lineup. The new drop-top will join the M3 sedan and M4 coupe later this month at the New York auto show and is expected to go on sale this summer. The new M4 convertible takes the place of last generation's M3 convertible, and will use the same powerplant as both the new M3 and M4: BMW's TwinPower 3.0-liter inline six will deliver 425 hp and 406 lb-ft of torque, redlining at 7,600 rpm.