Auto News 5

The highly-anticipated Hennessey Venom GT supercar is finally revealed. At less than 2,400 lbs and with power ranging from 725 bhp to over 1,000 horsepower, the Venom GT boasts one of the most astounding power-to-weight ratios ever seen in a road-going vehicle. Full story...

Fiat CEO Sergio Marchionne believes new-car sales in western Europe will fall by 15 percent this year and will not return to pre-crisis levels until 2014. Marchionne said 2010 sales will be 25 percent less than the pre-crisis year of 2007 when 14. Full story...

Electric car maker Think, which has been rescued from collapse three times in its 19-year history, expects to be profitable by next year. Full story...

There is a moment of truth for every Think electric car that is reminiscent of when Dr. Frankenstein awakens his creation, but without all the negative side effects. Full story…

Land Rover Managing Director Phil Popham expects the British premium SUV maker to have a strong 2010 because of rising sales in Europe and the United States following a disastrous 2009. Full story...

U.S. supplier Gentex Corp. provides the new Land Rover Discovery with auto-dimming mirrors that can be fitted with optional Automatic High-Beam Assist functionality. Full story...

As predicted late last week, Ford has announced it has entered into a definitive agreement to sell Volvo Car Corporation and related assets to Zhejiang Geely Holding Group Company Limited. Full story...

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. Full story…

General Motors says its 2011 Chevrolet Cruze Eco, set to debut Wednesday at the New York auto show, gets 40 mpg on the highway due to a GM first: a lower front fascia with shutters. Full story…

From the circuits of Europe to the hearts and minds of enthusiasts the world over, Ferrari and Porsche have traditionally ranked 1-2. Full story...

General Motors Co. says its 2011 Chevrolet Cruze Eco gets 40 mpg on the highway and features a GM first: a lower front fascia with shutters that close automatically at highway speeds to improve aerodynamics and fuel economy. Full story...

Zhejiang Geely Holding Group, China's largest private-run carmaker, agreed on Sunday to buy Ford Motor Co.'s Volvo car unit for $1.8 billion, the country's biggest overseas auto purchase. Full story...

Shanghai Automotive Industry Corp. plans to build and sell a right-hand-drive version of its newly unveiled Roewe 350 hatchback in England, said Chen Zhixing, executive vice president of SAIC. Full story...

Saab is in talks with possible partners about exchanging technologies as it tries to return to profit by 2012, Spyker Cars CEO Victor Muller said last week. Full story...

Unions have expressed concern about jobs losses at Fiat's factories in Italy that will be partly caused by the automaker's plans to build Fiat, Alfa Romeo and Lancia cars for Europe in Chrysler's North American factories Full story...

Faurecia gained EU approval on March 24 to buy the German assets of rival Plastal in a deal that will boost its presence in Europe's auto market. Full story...

In the hunt for vital cost savings in the small car segment, Daimler AG is willing to blur a line in the sand it has drawn since its 2007 Chrysler divorce. The luxury producer is ready to acquire equity in a volume carmaker again. Full story...

HONG KONG (Reuters) -- Geely founder Li Shufu, China's "Henry Ford," rewrote the automotive history books this weekend with his agreement to buy Ford Motor Co.'s Volvo car unit. Full story...

Fiat expects to increase its holding in Chrysler to 35 percent within two years, CEO Sergio Marchionne said. Full story...

Fiat boss Sergio Marchionne said Italy remains pivotal for the group, despite the planned closure of a large plant in Sicily and expansion abroad to fight a global crisis that has crippled the car sector. Full story...