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UPDATED: Aston Martin sold
Mon, 12 Mar 2007By Phil McNamara Motor Industry 12 March 2007 09:38 Aston Martin is today under new owners, following the sale of Britain’s premier sports car company to an investment consortium. After 20 years of ownership, Ford divested itself of the brand, its facilities and its products, in a deal valuing Aston at £479m. The new owner is a consortium led by David Richards, boss of automotive consultancy Prodrive, who helped to unite two private investment companies from Kuwait. Adeem Investment, which already owns the Grosvenor House Hotel in London, has a portfolio worth $1.5 bn.
Mandelson to announce help for car makers
Tue, 27 Jan 2009Lord Mandelson is the man charged with finding ways to fund UK Car purchases (yes, he of the dodgy mortgage debacle – at least he should know a few tricks!) as the credit crunch has dried up funding, leading to an unprecedented drop in new car sales in the UK. Mandelson is due to make a statement in the Lords just after 3pm today, outlining the help the government is going to offer to ailing car makers. Central to this package is expected to be a funding channel directly from the Bank of England to inject liquidity in to the car financing sector.
This day in Autoweek history: The 1976 Chevrolet Chevette
Wed, 21 Sep 2011Today in Autoweek history, we look back to the week of September 20, 1975, when Corey Farley gave us a look at the new 1976 Chevrolet Chevette. The B-segment (for 1976, anyway) newcomer weighed in at a scant 1,998 pounds and carried an equally lightweight MSRP of $2,899. Farley described how the Chevette handled some of the rigors of testing, which included hauling four journalists and their camera equipment around the Black Lake testing facility in Milford, Mich.