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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.

‘Imported from Detroit' shirts sell out quickly

Chrysler is selling “Imported from Detroit” T-shirts in response to the popularity of its Super Bowl ad, which included the new Chrysler 200 and Eminem, a Detroit native. And apparently, the T-shirts are popular, too, because they are currently out of stock. The shirts cost $29.95 each with an average shipping price of $10, depending on shipping distance.

UK drivers risk Euro fines

ONE IN FIVE drivers from the UK risks being fined when travelling in Europe due to not carrying the correct travel kit. Laws in Europe vary between countries but most demand every car has a warning triangle in case of a breakdown. In a survey by the AA, it found a third (37%) of British drivers did not know they needed to carry a high visibility jacket to comply with French law.