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Volvo will market entry-level car to rival VW Golf

Volvo plans to offer a Volkswagen Golf competitor as part of a plan to expand the automaker's product line. Speaking in London last week, new Volvo CEO Stefan Jacoby said the next generation of the entry-level Volvo “will be a derivation of the C30, a Golf competitor,” according to the Web site www.autocar.co.uk. He also said Volvo's brand positioning would shift toward “functionality and Scandinavian elegance” and away from sportiness, according to the Web site.

Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

Ferrari electric 4×4 confirmed

The next generation Ferrari 612 will be offered with an electric 4x4 option. Six months ago we reported that Ferrari were working on a four wheel drive system utilising electric motors to drive the front wheels. But Ferrari’s raison d’etre isn’t really about economy – although even they have to pass a nod to current eco concerns – rather about performance and handling.