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Italian firm buys stake in Aston Martin

The former owner of Italian motorcycle maker Ducati has bought a 37.5-percent stake in financially strapped British car maker Aston Martin. The move means future Astons could use modern drivelines and electric architectures from Mercedes-Benz's AMG division, insiders with knowledge of the deal suggest. Private equity fund Investindustrial has signed a memorandum of understanding with current Aston Martin owner Investment Dar of Kuwait that will see it pay $240 million (150 million pounds) for the ownership stake.

Hyundai Tiburon replacement to be smaller, less expensive

The successor to the Hyundai Tiburon will be a smaller and less expensive car, the company says. The new car will be "positioned below the current Tiburon," said John Krafcik, acting CEO of Hyundai Motor America. The car is expected in 2011.

Gronholm makes explosive debut at Pikes Peak

By Alex Michaelides Motor Shows 24 July 2009 11:55 Finnish rally ace Marcus Gronholm averted disaster to make a promising debut at the 2009 Pikes Peak international hillclimb. The world rally champion’s attempt was severely hampered when the rear tyre of his Ford Fiesta exploded, forcing him to limp home to a still-respectable fifth position in a time of 11min 28.963sec. Japanese rally star Nobuhiro ‘Monster’ Tajima claimed first prize in his Suzuki SX4 with a time of 10min 15.368sec.