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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.

Ferrari F150: New Enzo to cost €1-1.1m, 499 cars, delivery starts October 2013

The new Enzo Ferrari – the F150 – will arrive at Geneva, cost €1-1.1m Euros, just 499 will be built and delivery starts in October. We know for sure that the new McLaren P1 will come with 903bhp courtesy of a ‘hybrid’ boost, and it seems likely the new Enzo – the Ferrari F150, until we get the proper name – will usurp that with somewhere between 920 and 950bhp from its V12 plus electric boost. But now we know a bit more.

Biggest E-Type Jaguar 50th Party…In the World!

E-Type Jaguar Silverstone Parade - the biggest in the world As you can’t have failed to notice, 2011 is the 50th Anniversary of the debut of the iconic Jaguar E-Type, dubbed the most beautiful car in the world by none other than Enzo Ferrari. Jaguar has taken every opportunity available to celebrate the half century of the car that transformed them in to a world force – for a while at least – from commemorative books to rallies to Motor Show appearances to…well, just about anywhere they could get a bit of PR. But it’s not just Jaguar who are using the E-Type’s birthday as a way of garnering a bit of press coverage and boosting their event.