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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.

Lamborghini Gallardo replacement touted for Frankfurt motor show debut

September's Frankfurt motor show will see Lamborghini cap its 50th anniversary celebrations with a new concept car. The concept previews Lamborghini's upcoming replacement, sources close to the Italian supercar maker said. Rumor has it the car will be called the Lamborghini Cabrera.

Redesigned Cadillac CTS to debut at New York auto show

Cadillac will debut the redesigned CTS sedan at the New York auto show in late March and put the car on sale this fall. The redesigned Escalade SUV is set to arrive in early 2014. The brand is targeting a retail sales jump of about 35 percent this year, General Motors executives told dealers Sunday at the National Automobile Dealers Association convention in Orlando, Fla.