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Mark Fields replaces Alan Mulally as Ford CEO

Ford Motor Co. named Mark Fields to replace Alan Mulally as CEO on July 1, handing the reins to a 25-year company veteran after being saved by an auto industry outsider. “From the first day we discussed Ford's transformation eight years ago, Alan and I agreed that developing the next generation of leaders and ensuring an orderly CEO succession were among our highest priorities,” Executive Chairman Bill Ford said in a statement.

1957 Ferrari 250 Testa Rossa Prototype set to break auction record

The 1957 Ferrari 250 Testa Rossa Prototype will be at Pebble Beach 2011 Yes, much of the world is labouring under an economic cloud, but that doesn’t stop the world’s wealthy car collectors bidding for very special cars such as this 1957 Ferrari 250 Testa Rossa Prototype. This particular 250 TR is something rather special – although they all are, of course – because it is one of the original prototypes for the Testa Rossa and is expected to beat the current world car auction record – around $30M for a 1936 Bugatti Type 57SC Atlantic – when it appears at Pebble Beach next month. Regular readers may remember that Max Girardo and team at R.M.

New Ford Fiesta ST starts production ahead of first deliveries in March

Ford has started production of the new Fiesta ST at its plant in Cologne ahead of first customer cars arriving in Ford’s UK showrooms in March. By the time the Fiesta ST arrived at the 2012 Geneva Motor Show it had turned in to a full production model – with little change from the concept – and we finally got UK prices for the Fiesta ST last month, with the promise that Ford would be getting the first STs to customers in March. That plan looks like it’s on track as Ford announce the Fiesta ST has now started to roll off the production line in Cologne (and even the first STs coming off the line get Ford’s orange statement paint job).