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Daimler-Renault alliance approved, report says

An international alliance between Daimler and Renault has been approved by the companies' boards and is set to be announced on Wednesday, Bloomberg is reporting. The pact would allow the German and French automakers to collaborate on a range of products, including small cars, commercial vehicles and engines. AutoWeek first reported on the alliance last week.

Audi S5 Sportback revealed

Audi are bringing the S5 Sportback to Frankfurt The S5 Sportback gets Audi’s 3.0 litre supercharged lump putting out 329bhp and delivering 324lb/ft of torque. Which will give the S5 Sportback performance of around 5.2 seconds to 60 mph. This change from big V8s is a shame, but it does result in better economy – estimates for the S5 S/B are pushing on 30mpg – and the reduced emissions help car makers like Audi lower their average emissions, and important consideration these days.

Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced onSunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.