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Aston Martin sells 38% stake to Italians to raise cash

Aston 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.

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.

Ford Figo Saloon Concept is the new KA Concept with a boot

The Ford Figo Saloon Concept (pictured) debuts in India The Ford Figo is a last generation Ford Fiesta built for emerging markets in India, but this new Ford Figo Concept appears to be a next generation Ford KA with a boot. Looking just like the new Ford KA Concept from Brazil – which got a European outing in Barcelona in December - the Figo Concept is a next-generation Ford KA with a an extra bit on the back and aimed at emerging markets. That ‘emerging markets’ aim seems clear when one of the major selling points, according to Ford, is the flexible architecture of the power door mirrors that makes it far less likely the mirror will be ripped off when hit by a passing car.