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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.

Nissan plays catch-up on quality

Stung by slumping U.S. quality scores, Nissan Motor Co. will overhaul quality control in a bid to catch Japanese and Korean rivals boasting better customer satisfaction.

Volvo ReCharge Concept

By Ben Barry Motor Shows 13 September 2007 12:38 A Volvo hybrid? Let me guess, it appeases the greens but fails to deliver in the real-world The typical hybrid this is not. Instead of having an electric motor that only works at very low speeds before a regular engine cuts in, this C30 – dubbed ReCharge Concept – can be driven on electric-only power for 62 miles which is adequate for most commutes.