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Ford agrees to sell Aston Martin

Ford 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.

Hyundai explores pickup plans with Chrysler, report says

Hyundai proposed plans to Chrysler earlier this year to work together on a truck derived from the Ram chassis for Hyundai, Reuters is reporting. Chrysler CEO Sergio Marchionne rejected the overture from the South Korean company, Reuters says, but it's possible Hyundai could make another offer. The move could allow Hyundai to tap into a lucrative part of the U.S.

Concept Car of the Week: Alfa Romeo Navajo (1976)

In 1976, the space shuttle Enterprise was unveiled, Concorde made its first commercial flight and the Cray supercomputer went into service. These events represent a time when ideas transitioned from science fiction to reality. While significant progress was being demonstrated elsewhere, the motoring world gave us the first Ford Fiesta.