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Going, going, gone: Ford sells Volvo to Geely

Little more than a year ago, the name Geely would happily slip under the radar of most. Today, the Chinese company completed its purchase of Volvo from Ford. Geely stumped up a $1.3 billion in cash for the Swedish brand and issued a $200m note.

Saab secures more funds as it seeks to avert collapse

Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'.  Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.

Subaru BRZ: First official BRZ picture

Subaru BRZ - First Photo Released We’ve had a raft of images of the Toyota FT-86 in the last week or two, but very little on its Subaru sibling – the Subaru BRZ. But now, with the Tokyo Motor Show and the official debut of the BRZ (and the FT-86) looming, we have the first photo of the Subaru offering in the Toybaru project. Developed by Subaru and Toyota – with, it seems, Subaru doing the oily bits and Toyota the styling – the ‘affordable’ sports car from Japan does seem to be a tempting offering.