Volkswagen has announced that the current head of Bentley, Franz-Josef Paefgen, will also add the Bugatti brand to his duties. Paefgen, a former head of Audi, will replace Thomas Bscher, who resigned from Bugatti after an apparent fallout with VW boss Martin Winterkorn. Bscher’s departure was the latest in a string of high-ranking executives to […]

Thomas Bscher, head of Bugatti, has announced that he will resign from his position. Bscher had been vocal about his desire for a second Bugatti model and future expansion of the brand. When asked about Bscher’s plans for a second Bugatti model or whole product family, Volkswagen Group CEO, Dr. Martin Winterkorn, replied, “That is […]

Ford officially announced that it has sold Aston Martin, its luxury sports car brand, to an investment group lead by David Richards, Prodrive founder and chairman. Ford said the deal is valued at $925 million, and it will retain a $77 million stake in Aston Martin.
The new owner of Aston Martin is a consortium […]

Ford expects its luxury Premier Automotive Group to report a profit in 2007, according to Lewis Booth, the head of Ford’s European operations. The Premier Automotive Group is made up of the Volvo, Jaguar, Land Rover, and Aston Martin brands. Last year, Ford announced that it is looking to sell Aston Martin. Current reports say […]

In the saga that is the potential sale of the Chrysler Group, another automaker is said that it is not interested in acquiring the troubled American arm of DaimlerChrysler. Last week, China’s SAIC said it does not have any current plans for any overseas acquisitions. This announcement came in response to a Hong Kong newspaper […]

Ford is committed to its Volvo brand even while it is spinning off another brand in the Premier Automotive Group. “Ford is very supportive when it comes to the development of Volvo cars,” said Volvo CEO Fredrik Arp.
While Ford, which lost $12.7 billion in 2006, is currently only looking to sell its Aston Martin luxury […]

As we reported earlier today, Ford could announce the sale of Aston Martin as soon as this week. According to The Times, Ford is in exclusive talks with Prodrive for the sale of Aston Martin. Prodrive currently runs Aston Martin’s racing team and Subaru’s world rally team. It will enter Formula One with its own […]

Ford’s announcement on the sale of Aston Martin could come as soon as this week, according to a source familiar with the matter. The sale of Aston Martin should net Ford more than $865 million.
The current leader in the race for Aston Martin is the Formula One team Prodrive, although other bidders such as […]

DaimlerChrysler is considering holding on to the Chrysler Group’s Jeep brand in the possible sale of the American arm of the Anglo-German company, according to German newspaper Handelsblatt. According to inside sources, DaimlerChrysler is considering splitting the Jeep brand out Chrysler and keeping it independent. Experts believe that Jeep fits well with the Mercedes brand, […]

DaimlerChrysler and BMW have announced that they are expanding their hybrid system collaboration. The two German automakers have already worked with General Motors on the development of the two-mode full hybrid system, which will debut in early 2008 on the Chevrolet Tahoe/GMC Yukon and Dodge Durango.
DaimlerChrysler and BMW will work together to develop a mild […]