FORD, GEELY AGREE ON SALE OF VOLVO

While General Motors is yet to complete the sale of one of its previously proposed sell-offs (Opel, HUMMER and SAAB), its neighbourhood rival Ford Motor Company has just announced the sale of its Volvo division. In 2008 the Blue Oval got rid of Jaguar and Land Rover to the delight of new owner Tata. Prior to that it sold off Aston Martin to a British consortium.

Volvo Cars will be taken over by Chinese automaker Geely for the estimated sum of US$1.8 billion (R13.6 billion). Ford does not plan on keeping any part of Volvo for itself, meaning Geely takes 100% ownership. However the two companies will cooperate on certain issues.

SUPER-FAST ASTON MARTIN ONE-77 TOPS 355KM/H

Aston Martin’s most extravagant car ever to be made is well on its way. The One-77 (so named because only 77 will be built) was testing at a high-speed track in Italy recently and attained a very high speed of 354.86 km/h (220.007mph). AM representatives say the conditions were dry and windy. I can’t say therefore there was no wind assistance, but even if there was, that’s still a good speed for any car. Mind you Astons are not merely speed machines.

Bucking the recent twin turbo trend, power comes from a naturally aspirated 7.3-litre V12 said to make over 520kW and 700Nm of torque. The 0 – 100km/h dash should be achieved under 4 seconds.

The two-door ultra-luxury sports car will place AM among the very elite supercar makers of our time when it goes on sale in 2010. Prices are anybody’s guess but it’s estimated that a cheque of just over €1 million will suffice.