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TrueCar announces women's racing initiative

TrueCar, publishers of new-car-transaction data, revealed plans for a multiyear push into motorsports sponsorship but with a twist. TrueCar will throw its money behind female racers in premier series and up-and-coming ones in numerous development series. "TrueCar is built upon the foundation of empowering individuals with the tools and resources they need to become expert car buyers," TrueCar founder and CEO Scott Painter said.

Audi R8 Spyder leaks out

The first proper pictures of the new Audi R8 Spyder We’ve known for some time that the drop-top R8 was coming to Frankfurt. The Spyder has been seen out and about on the set of the film ‘Iron Man II’, and we had a UK Audi dealer using a picture from the set to promote orders for the R8 Spyder back in July. So it’s not new news, but the pictures are new and are obviously part of the official release set – which we’ll no doubt see later today.

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.