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Lexus names its compact hatch CT200h

Lexus has named its new 1-series rival the CT200h. It’s the production version of the LF-Ch concept hatchback – and we’ll see the new CT range properly at the Geneva motor show 2010. This first official photo appears to be of the same car as our spy photos in January 2010 and shows those redesigned tail lights in full.

Mitsubishi is hoping that new models will spur sales in the United States

Mitsubishi aims to revive its ailing U.S. operations by introducing a new SUV and a small car by 2012 and by reviewing the dealership network to weed out weak players. "The revitalization of the American business is very important," Mitsubishi Motors Corp.

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.