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Lamborghini SUV confirmed

A senior source at Lamborghini's parent company Audi in Ingolstadt, Germany, has confirmed reports suggesting that the Italian supercar maker is close to revealing a dramatically styled and luxuriously equipped SUV/crossover concept that previews its long-touted third model. "I can't comment in detail but the speculation in the press is largely correct," an Audi manager revealed when questioned about reports outlining plans by Lamborghini to gauge public response to a successor to the famed LM002 with a new SUV concept. Set to get its first public airing at the Beijing motor show in late April, the new SUV/crossover will extend the current Lamborghini lineup, joining the successor to today's Gallardo and the recently introduced Aventador in what will at least be a three-strong model lineup from Sant'Agata from 2016 onward.

Detroit auto show: Ford pumps up the 2011 Mustang GT with 412 hp

To Ford Mustang fans, 5.0 has a special place in their hearts and Ford has delivered a new car for them to love: the 2011 Mustang GT. The 5.0-liter V8 Mustang GT will deliver 412 hp and 390 lb-ft of torque. The engine produces 83 hp per liter yet will return 25 mpg on the highway and 17 mpg in the city, according to Ford marketing boss Jim Farley.

New bosses for Volvo and Ford of Europe

Volvo will shortly have a new boss, it was announced today. Geely Motors is buying Volvo from Ford and the two companies confirmed today what we all suspected: that Volvo CEO Stephen Odell will leave the top office in Gothenburg and head up Ford of Europe. The new chairman of Volvo is Li Shufu, Geely's top man.