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Next Ford Mustang to follow Evos concept, ditch retro styling, report says

The Ford Mustang has been rolling with a retro-heavy styling theme since the fourth generation of the pony car appeared as a 1994 model. But the Wall Street Journal reports that the sixth-generation Mustang, due out in about two years, will break that mold. The newspaper, citing sources it did not name who know of Ford's plans, says that the new Mustang will look a lot like the Evos concept from last year's Frankfurt show.

Ford reportedly to shut down Mercury

The Mercury brand, rumored to be on the verge of death several times over the past decade, would be shut down under a plan being prepared for Ford Motor Co.'s board of directors, Bloomberg News reported on Thursday. Citing two executives who have knowledge of the plan but asked not to be identified, the news service said the plan would be submitted to Ford's board in July. How quickly Mercury would be shut down depends how quickly the automaker can convince Lincoln Mercury dealers to close or merge with a Ford-brand dealership, the report said.

Chrysler repays $7.6 billion in outstanding U.S., Canadian loans

Chrysler on Tuesday repaid $7.6 billion in loans to the U.S. and Canadian governments, nearly two years after the No. 3 automaker was rescued.