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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.

Car Design China Award winner benefits from Umeå placement

One of this year's Car Design China Award winners won the prize of a visit to Sweden's Umeå Institute of Design to mix with and work alongside other young aspiring designers and learn new skills using some of the latest technology available. Tsinghua University's Yulian Wu, who won the award for Best Luxury Concept along with partner Liu Kefeng at this year's awards, was welcomed to the school when he arrived on 25 September with the traditional welcome party for all new students. Umeå's program director for Transportation Design Demian Horst's first impression of Wu was a positive one.

Fiat-Chrysler: A match made for enthusiasts

The Fiat-Chrysler marriage means big love for auto enthusiasts in the United States. Here's a quick rundown on some of the Fiat hardware we got a chance to sample during a recent visit to the company's headquarters and test track in Italy. Fiat 500: With styling that makes it look like the spawn of a Volkswagen Beetle and a BMW Mini Cooper, the 500 does an Italian job on both competitors: It's cuter than a Beetle, and likely less expensive than a comparable Mini.