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 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.

McLaren to debut MP4-12C Can-Am at Pebble Beach Concours d'Elegance

The Pebble Beach Concours d'Elegance weekend is less than a week away, and debuts continue to roll in. Wednesday's addition comes from McLaren, which will show off a track-focused concept named the 12C Can-Am Edition. The design study is painted in McLaren orange and satin black.

2013 Toyota Auris leaks

The next generation Toyota Auris (Toyota Corolla) is due to debut this year as a 2013 model, and we get the first leaked photo. We know that a replacement for the Toyota Auris is on the horizon and we’re expecting it to make a public debut (at least in Europe) at the Paris Motor Show in September before going on sale by the end of 2012. But now, thanks to a Japanese Magazine scan, we have a pretty good idea what Toyota’s new Auris/Corolla is going to look like, and it seems to be the current Auris with a dose of Lexus thrown in for good measure.