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Ford agrees to sell Aston Martin
Wed, 14 Mar 2007Ford Motor Company announced this week it has entered into a definitive agreement to sell Aston Martin, its prestigious UK sports car business. The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait. The sale is expected to close during the second quarter and the transaction values Aston Martin at GBP 479 million ($925 million). As part of the transaction, Ford will retain a GBP 40 million ($77 million) investment in Aston Martin.
Next Dodge Viper will shed some rough edges
Fri, 18 Nov 2011Little by little we're getting a clearer picture of the next-generation Dodge Viper SRT10. During a conversation with Dodge boss Reid Bigland at the Los Angeles auto show, Bigland told me the redesigned Viper "will appeal to a broader segment of the market." The car is expected to debut in 2012 but is not likely to appear at the Detroit auto show, he says. Today's Viper is essentially a street-legal race car.
Lincoln gets own design studio
Tue, 16 Aug 2011Ford is creating a dedicated design studio for its luxury brand Lincoln in an ongoing bid to rejuvenate the brand and position it further apart from the core Ford offering. The new design studio will be situated in the Product Development Center in Dearborn, Michigan, with Max Wolff – recruited from Cadillac last year – charged with leading the brand in its revival efforts. Ford has also announced that it will be increasing spending on the brand, giving it unique interiors and powertrains.
