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Alfa Romeo is not for sale, Fiat chairman says

Fiat will not sell its Alfa Romeo unit and plans to relaunch the brand in the United States in late 2012, top Fiat executives said. “We would not sell Alfa even if we were offered tons of money,” Fiat chairman John Elkann told reporters at the Detroit auto show on Monday. Fiat and Chrysler CEO Sergio Marchionne said: “Alfa is part of Fiat's operational perimeter and we've already invested too much to get rid of it.” Volkswagen AG is rumored to be pursuing Alfa Romeo.

Red Tails Mustang joins auction at AirVenture Oshkosh

Ford has produced a one-off Red Tails edition of the 2013 Ford Mustang GT for an auction at the Gathering of Eagles charity event on July 26. The event will take place during the Experimental Aircraft Association (EAA) AirVenture Oshkosh 2012 at Wittman Regional Airport in Oshkosh, Wis. Proceeds will benefit the Young Eagles program, which provides free introductory flights for young people.

Volvo Concept Coupe (2013) at Frankfurt motor show

The Swedes have done emotional coupes before – like the C70 and the legendary P1800 – but the Volvo Concept Coupe is the first from its new designer, Thomas Ingenlath. Recruited from VW, Ingenlath says that the concept, which is underpinned by the new SPA platform (which stands for Scalable Platform Architecture) that will be used on the 2014 XC90, is both a nod to the past and a signal of intent for the future. You’ll be able to see it at the Frankfurt motor show in September.