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Going, going, gone: Ford sells Volvo to Geely

Little more than a year ago, the name Geely would happily slip under the radar of most. Today, the Chinese company completed its purchase of Volvo from Ford. Geely stumped up a $1.3 billion in cash for the Swedish brand and issued a $200m note.

Subaru SHARC wins LA Design Challenge [w/video]

Subaru's SHARC (Subaru Highway Automated Response Concept) has been named the winner of the 2012 LA Design Challenge. The judges chose the futuristic drone as the best embodiment of the 'Highway Patrol Vehicle 2025' with the judges declaring that the studio captured "the vision of Design Challenge theme by combining functionality and problem-solving technology around a dynamic and plausible story" from a choice of designs from six other automotive design studios. Studios from BMW DesignWorksUSA, General Motors, Honda North America, Honda Japan, Mercedes-Benz submitted concepts that would create a highway patrol vehicle for 2025 that tackled the ‘protect and serve' aspect while considering emissions, population growth and transportation infrastructure.

Jets land on Rodeo Drive

Tail fins will be all over Rodeo Drive on Father's Day, June 16. The Rodeo Drive Committee has chosen “The Jet Age” as its theme for this year's street-closing concours, with tail-finned cars of the '50s and '60s lined up on the 300 block of the famous street. And to top it off, and perhaps because they made a nice contribution, parked on the 200 block will be a mock-up of the new Lear 85 business jet in all its carbon-fiber glory -- with the tail fin but minus the wings.