Volvo's new owners, China's Zhejiang Geely Holding Group Co., have agreed to invest up to $11 billion over the next five years with its sites firmly set on huge success in China, construction of a new plant in Chengdu and a possible second plant.
This morning, General Motors announced their earnings statement for 2010 and for the first time since 2004, the massive automaker saw their first profit – to the tune of $4.7 billion dollars – making it the best year in terms of earnings since 1999.
The new Ford Focus comes standard with so much technology, Ford had to rethink its storytelling approach for consumers worldwide, using 50 tailored commercials to communicate 14 key technology benefits.
Dutch supercar builder Spyker surprised the world last year when they purchased Swedish luxury brand Saab from General Motors but today, they made an even more surprising announcement as they have sold the Spyker Cars brand to CPP Global Holdings Ltd. – the British company who has been producing a large portion of the chassis and body panels for Spyker since they re-opened in 2000.
Toyota Motor Corp. announced this morning that they are recalling 2.17 vehicles (in the US) from the Toyota and Lexus brands to service the floormats or the area around the floormats to prevent interference between the mats and the accelerator pedal – the alleged culprit in Toyota’s unintended acceleration problems that have now accounted for 14 million recalled vehicles.
Over the coming year the Walter P. Chrysler Museum in Auburn Hills, Mich will offer a series of rotating exhibits featuring pairings of rare vehicles along with the privately held vehicles of other remarkable models from the company's lines
While the Fiat 500 is not priced like many high fashion luxury brands, the Italian automaker is all about style and that aspect of the modern Fiat brand is accentuated by the 2012 Fiat 500 by Gucci.
The world's sixth largest third party auto supplier, Faurecia will provide significant parts contributions to the production of the 2012 VW Passat in the Chattanooga, TN plant. These will include exhaust systems, seating and dash elements, as well as lightweight front-end carriers for fan, bumper, headlights etc.
There have long been rumors that Jaguar was working on a hotter version of the XKR and thanks to a recent press release, we know that the new Jaguar XKR-S will make its grand debut at the 2011 Geneva Motor Show.
