AWESOM-O VIDEO! Techno Song Made With Sounds from Jeep Cherokee

Trust us when we say that, even if you're not a fan of techno music, this is one video clip that you'll want to watch / hear again and again. Created by filmmaker - musician Julian Smith, the video shows a crew of people using the doors, engine, switches, locks and numerous other parts of an old Jeep Cherokee to make a music clip called "Techno Jeep".

Julian said that the "automotive band" began rehearsing their parts 2 weeks before the video was shot, while it took the group "7 hours of filming to get a solid take." Enjoy the video after the break. Kudos to Sebastian R. for the tip!

Saab Enthusiast Launches "I Won't Buy From GM" Campaign to Deter GM from Shutting Down the Brand

While not large in absolute numbers, Saab followers are a truly feisty bunch that will do anything to see their beloved brand surviving to see another day. And even though some may not always agree with their positions, if anything else, they do deserve our respect for their tireless efforts to save Saab.

Today we discovered that Steve Wade, a fellow Aussie from Tasmania that runs the Saabsunited enthusiasts' website, has launched a new campaign to put some pressure on General Motors to sell the brand at any cost by keeping the Detroit automaker on the media spotlight.

The site is called "I won't buy from GM" and according to Steve, the purpose of the campaign is "for people to declare to GM that if Saab is closed down, rather than sold, then those people signed up will not consider the purchase of another GM vehicle in the future."

Steve rightfully -in our opinion- notes that, while GM couldn't care less about a few thousand Saab fanatics not buying its cars, the Detroit automaker may be concerned about the media backlash if the word spreads around.

Whether or not this move will actually have any effect on GM's decision, is another story.

Since the site was launched on Christmas eve, more than 2,130 people have answered to the call.

Link: iwontbuyfromgm

2011 Ford Mustang GT with 412HP 5.0-liter V8: First Photos Leaked

The 2011 Ford Mustang with its spanking new 5.0-liter V8 is proving to be the 2010 Detroit Show's worst-kept secret, as following an earlier leak on its powertain specs, we now have the first official shots of the car and its engine. From what 'dam crackers' told us, the new 5.0 will deliver an output of around 412 ponies at 6,500 rpm and 390 lb-ft of torque, up from the current 4.6-liter V8's 315HP and 325 lb-ft.

As previously reported, the V8 will be matched to your choice of a six-speed manual or automatic transmission, with the Mustang GT allegedly returning a fuel economy of 25mpg (9.4lt/100km), most likely on the highway.

Ford is expected to release initial details and pictures of the 2011 Mustang GT early next week.

Via: Jalopnik and

Toyota Reacts to L.A. Times Story on its Safety Recall Policies, Posts All Questions and Answers

On December 23, the Los Angeles Times published a story questioning Toyota's safety recall policy not only in the case with the floor mats and the sudden acceleration, but in general. The world's largest automaker responded to the article by publishing the L.A. Times' questions and the full text of its answers.

In addition, Irv Miller, Group Vice President, Environmental & Public Affairs of Toyota USA, accused the newspaper of asking questions that "were couched in accusatory terms" and that of the very few answers that appeared in the article, most were distorted. Hit the break to read Toyota's official statement and the Q&A with the Times.


Today the Los Angeles Times published an article that wrongly and unfairly attacks Toyota's integrity and reputation.

While outraged by the Times' attack, we were not totally surprised. The tone of the article was foreshadowed by the phrasing of a lengthy list of detailed questions that the Times emailed to us recently. The questions were couched in accusatory terms.

Despite the tone, we answered each of the many questions and sent them to the Times. Needless to say, we were disappointed by the article that appeared today, and in particular by the fact that so little of our response to the questions appeared in the article and much of what was used was distorted.

Toyota has a well-earned reputation for integrity and we will vigorously defend it.

Irv Miller

Group Vice President, Environmental & Public Affairs

Toyota Motor Sales, U.S.A., Inc.

Setting the Record Straight

Toyota has a long history of building safe, reliable and high quality vehicles, and we are committed to the highest levels of consumer safety and satisfaction with our products. Toyota vehicles are carefully and rigorously tested, and are all engineered to meet or exceed the high standards set by Federal regulators.

We cooperate fully with all investigating and regulatory agencies who request information and data about Toyota vehicles involved in accidents. Further, we always strive to provide complete and accurate information to our product safety regulators.

Communications with consumers about safety recalls are strictly regulated and Toyota adheres to these regulations. Toyota has absolutely not minimized public awareness of any defect or issue with respect to its vehicles. Any suggestion to the contrary is wrong and borders on irresponsibility.

We are confident that the measures we are taking address the root cause and will reduce the risk of pedal entrapment.

autoofcars2011.blogspottheless, Toyota will remain vigilant in thoroughly investigating and taking appropriate measures to address any defect trends that are identified.

With respect to the questions you have raised, here are some key facts that should set the record straight.


Q1: In 2003, Toyota engineers discovered a defect in Sienna minivans that could cause them to accelerate without driver input. The problem was corrected on the assembly line, but at least 26,000 vans had already been manufactured, according to NHTSA documents.

If this is correct, why did Toyota not move to correct the problem in those vehicles immediately, and why did it wait until 2008 to inform NHTSA of the defect and until this year to recall those vehicles?

Also, it appears that only around 1/6th of those 25,000 vehicles have been repaired in the recall. Why so few?

Toyota does not agree that its engineers discovered a defect in Sienna minivans that could cause them to accelerate without driver input. Here are the facts: in April 2003, during dynamometer testing inside the Toyota factory, a hard plastic trim panel attached to the center console trapped the accelerator pedal. The root cause was a missing attachment clip.

A safety recall was not deemed necessary because immediately following the incident, Toyota conducted an investigation, including checking more than 200 vehicles in the plant and the shipping yard. No vehicle was found with a missing clip. In addition, there were no warranty claims or reports of a missing clip at that time. Toyota determined that the missing clip was an isolated incident.

After evaluation and redesign, in June 2003, a hard plastic trim panel of a different shape was implemented as an additional safety measure. Based upon the trim panel's design, if the attachment clip were to be missing, the trim panel's increased resistance would make pedal entrapment very unlikely. The only way the clip will ever be missing is if the clip is not properly replaced after performing a repair operation which involves removal of the trim panel.

In 2006, a sole customer complained about a pre-June 2003 trim panel interfering with the accelerator pedal. The report to Federal regulators of the complaint indicated that the owner had repairs done that involved removing the trim panel to access HVAC components.

In August, 2008, Federal regulators opened an investigation. On January 14, 2009, Toyota advised regulators that "Toyota has not determined that the condition is a 'safety related defect'. Toyota agreed, however, to voluntarily undertake a campaign to provide owners of the older vehicles with newly designed trim panels. In response to Toyota's voluntary campaign, regulators closed the investigation.

As for the number of vehicles repaired, Toyota's activities to encourage customers to bring their vehicles in are consistent with industry practice and Federal regulations. Typically, the rate of recall completion is affected by the age of the vehicle.

Q2: Toyota has conducted numerous recalls related to sudden acceleration over the past decade in the U.S. and Canada, including two previous floor mat recalls. But the problem has continued.

Does this mean that the previous recalls were not successful in eliminating the problems and if so, why not? In particular, why wasn't the 2007 recall of Lexus ES and Camry floor mats effective in preventing catastrophic accidents such as the Saylor case?

Toyota has conducted two all-weather floor mat (AWFM) recalls after receiving reports that if the floor mat (either by itself, or if it is placed on top of an existing carpeted floor mat) is not secured by the retaining hooks, the mat can move forward and interfere with the accelerator pedal returning to the idle position. If the mat is properly secured, it will not interfere with the accelerator pedal.

As reported in the law enforcement investigation, the floor mat in the Saylor accident was not only improperly secured, it was incompatible and incorrect for the vehicle. The recall recently announced addresses the fact that incompatible floor mats, or multiple floor mats could be installed and that the remedy must address that possibility.

Q3: In October 2004, Toyota wrote NHTSA that that it would not conduct a recall of steering relay rods in 4Runners because, unlike in Japan, it had not received field information to indicate a problem in the U.S. market.

But documents entered into court evidence indicate that Toyota had received dozens, if not more, complaints of relevant problems prior to that date, and other court documents show that Toyota had performed numerous warranty repairs on those components prior to that date.

If these documents are correct, why did Toyota tell NHTSA that it had not received such information in the U.S.? And why didn't Toyota conduct a U.S. recall at that time?

Toyota has always been fully cooperative with Federal regulator's investigations and inquiries and has always submitted all information requested consistent with the rules and regulations applicable to regulators.

Regarding unspecified "documents entered into court evidence", any party in a court litigation can submit documents to the court and assert that those documents support one proposition or another. In most cases, the ultimate decider of what those documents truly prove is the jury, which makes its decision after being instructed by the judge as to what evidence to properly consider and after hearing arguments about the evidence from both sides.

Toyota will not comment upon documents "entered into court evidence" or otherwise submitted in litigation outside of that fact-finding process.

Q4: Toyota has moved on numerous occasions to settle lawsuits alleging sudden acceleration or unintended acceleration. According to attorneys and other knowledgeable sources, dozens of these cases have been settled and plaintiffs have been held to strict confidentiality agreements.

Is this true and can you tell us specifically how many settlements you have reached?

If Toyota's position is that the problem is caused by floor mat and pedal interaction when the floor mat is improperly installed by the driver or another third party, why would the company have settled those cases?

Like many parties in civil litigation, Toyota at times has resolved and will continue to resolve matters with litigants through confidential settlement when it is in both parties' interests to do so. Such settlements must be agreed to by both parties and cannot be imposed by Toyota alone. Apart from this general principle, Toyota does not comment on confidentially resolved matters.

Q5: A number of consumers have told us that Toyota bought back their vehicles under Lemon laws following complaints of unintended or sudden acceleration.

Is this true and could you say how many vehicles you have bought back because customers complained about unintended acceleration?

If Toyota's position is that the acceleration problem is caused by floor mat and pedal interaction when the floor mat is improperly installed by the driver or another third party, why would it buy those vehicles back as lemons.

As a corollary question: what has Toyota done with any vehicles it bought back as Lemons that allegedly suffered from unintended acceleration? Were they destroyed? Were they resold?

Toyota has no policy to buy back vehicles under the Lemon Law or any other buyback program for customers complaining of unintended or sudden acceleration. Toyota Motor Sales, USA, Inc. is not aware of it buying back any vehicles under The Lemon Law for such complaints.

The customers to whom you refer may have interacted with Toyota dealers who on their own have always been able to deal with dissatisfied customers to preserve goodwill.

Q6: Toyota maintains that it cannot share information on its Event Data Recorders with vehicle owners because there is only one diagnostic tool capable of reading the information. Is that still accurate, that there is only one such tool in the entire country?

Toyota does not yet have a commercially available Event Data Recorders (EDR) readout tool and its tool is currently a prototype. There is only one prototype readout tool in the U.S. Toyota performs EDR readouts for law enforcement under certain circumstances.

We are also occasionally ordered by various courts to perform EDR readouts. A readout for law enforcement is a community service that Toyota performs. Toyota does not have the capacity to perform readouts using its one prototype tool in all cases.

Federal regulators have required that by September 1, 2012, Toyota and all other manufacturers which have EDRs in their vehicles will be required to make a data retrieval tool commercially available. Toyota will, of course, comply with this requirement.

The vehicle in the Padilla case that you referenced did not have an EDR. It had a G-Force Data Recorder (GDR), which is a primitive deceleration-force measuring device that only assists with airbag deployment. The GDR was never designed nor intended to be used for accident reconstruction purposes.

Q7: Under California state law and laws in a number of other states, EDR data belongs to the vehicle owner, yet Toyota has repeatedly told customers that the data is proprietary.

Who does the data belong to? Did the 2005 federal court ruling in Padilla vs. Toyota change the way that Toyota shares EDR data?

As to EDR data ownership, such ownership varies state by state. As explained previously, the prototype software used by Toyota to perform EDR readouts is proprietary, as is the case with all auto manufacturers. Toyota does not contend that the EDR readout data is proprietary. When a data retrieval tool is commercially available, any data retrieved will then as now be subject to applicable state law.

Q8: In the course of NHTSA's drafting the rule on EDRs, Toyota raised numerous objections to both the proposed rule and the original version of the final rule, including limiting the number and time range of data points captured. Why would Toyota oppose such requirements?

The assertion that Toyota opposed the EDR rule is flatly wrong. As a careful and fair review of the rule-making record will reflect, Toyota in fact supported the establishment of the EDR rule and urged that the EDR rule be simplified to prevent other electronic components unrelated to the EDR to be unintentionally affected by the rule.

While Toyota and other members of the auto industry raised concerns with some details of the proposed EDR rule, many of those concerns were resolved in the final rule with which Toyota is fully preparing to comply.

Indeed, Toyota proposed and Federal regulators generally accepted the notion that EDR retrieval tools should be made available through mandatory license to licensees outside of the manufacturer's control. Toyota's purpose in its proposal was to make EDR retrieval more widely available while protecting proprietary information.

Q9: According to your web site, Toyota's EDRs are capable of recording data including brake pedal application and degree of application of accelerator pedal, among other things.

That data would appear to be useful in determining possible causes in the Saylor case, as well as in other similar cases.

But according to the Sheriff's report, that data has not been accessed in that case. Does Toyota intend to access that data to help it make a determination, and does it plan to release that data?

The EDR is capable of recording only the previous several seconds of activity before and/or a fraction of a second after a crash or near-crash situation. At the Sheriff's request and with the agreement of all interested parties, Toyota agreed to perform a readout of the EDR in the Saylor vehicle.

In the presence of representatives of all interested parties and the Sheriff's department, Toyota attempted to perform the readout as agreed. However, due to the extensive damage to the EDR unit from the crash, it was impossible to perform a readout.

We suggest you confirm this fact with the San Diego Sheriff's Department which retains custody of the EDR to this day.

Q10: Has Toyota used EDR data to aid investigation of any other alleged unintended or sudden acceleration cases? If so, what did the data show? Has Toyota shared EDR data with NHTSA for its investigations?

If so, in what cases? Has Toyota extracted any data from EDRs that shed any light on SA or UA cases?

Given the fact that the readout tool is a prototype and has not been validated, it is Toyota's policy not to use EDR data in its investigations. However, Toyota has used the readout tool under certain circumstances.

One such circumstance is the Saylor matter described in the answer above. In another circumstance, a court ordered Toyota to use the readout tool in a litigation. The readout data was consistent in that case with Toyota's position that the unintended acceleration was caused by the driver's foot on the accelerator pedal.

Finally, Federal regulators at times requested EDR readouts and Toyota has in each instance complied with these requests in order to assist the agency.

Toyota will continue to comply with requests from regulators to perform readouts.

Q11: Has Toyota, through its handling of recalls, defect investigations, settlements, lemon buybacks and litigation minimized public awareness of the potential risk for sudden acceleration events in its vehicles? If not, how do you explain the impact of those actions?

A11: [answered in the preamble to the Q&A]

Merry Christmas and Happy "Vroom-Vroom" Holidays to all from Carscoop!

We want to wish all of you, our readers, associates, fellow bloggers and journalists etc., etc. that celebrate the day, a very Merry Christmas, and to those that don't, a happy and healthy holiday season. You may have noticed that we've been taking it a bit easy these past couple of days, and we'll probably do the same towards the end of next week, but fear not as the Detroit Show is around the corner. It's like the calm before the storm....

SPY SHOTS: 2011 BMW M5 with Twin-Turbocharged V8

Having already introduced the next generation 5-Series sedan, BMW and in particular, its M division, is now concentrating on the development of the flagship version of the series, the M5 that was caught here testing at the Nordschleife. The hotly anticipated M5 will debut about a year after the standard 5-Series that is due to make its first public appearance at the 2010 Geneva Show next March.

Until recently, it wasn't clear if the new M5 would continue to use the current model's exotic V10 powerplant or if the Bavarian's would go for the new 4.4-liter bi-turbo V8 that debuted in the X5M and X6M. However, BMW officials have now confirmed that the new M5 will indeed be equipped with the turbocharged V8.

In the X5M and X6M, the bi-turbocharged unit produces an output of 555 horsepower at 6,000 rpm and 680Nm or 501-lbs/ft of peak torque, available between 1,500 and 5,650 rpm. In comparison, the current M5's naturally aspirated V10 makes 507HP and 520Nm or 383-lbs/ft of peak torque.

Details on the new M5's engine specs remain scarce, though it has been suggested that the direct-injection V8 may be further honed, boosting output closer to the 600HP mark.

The new V8 will not only be more powerful than the V10, but also more compact in size, lighter in weight and more fuel efficient with lower CO2 emissions.

Along with the new powerplant, the 2011 M5 will get a re-engineered version of the BWM M3's seven-speed twin-clutch transmission (DCT), and hopefully for purists, a classic manual gearbox.

As with every other product bearing the M badge, the 5-Series-based model will benefit from suspension, brake and steering system upgrades to further improve handling and driver's feedback.

Even though the prototype model seen in these spy pictures features the standard roof, it is rumored that BMW is working on a carbon fiber top similar to that of the current M3 and M6. Other cosmetic differences will include engorged wheel arches housing larger rims and of course, a full body kit.

If BMW keeps its usual time schedule, we should see the new M5 breaking cover at a major auto show in 2011, with sales starting in Europe towards the end of the same year, and the rest of the world including the U.S., in 2012.

TRD Releases First Upgrades for Toyota Sai Hybrid

Toyota's budget version of the Lexus HS 250h, the new Sai Hybrid, just went on sale in Japan in the beginning of the month, but the automaker's TRD division has already lined up some subtle visual and performance upgrades for the sedan. In addition to the selection of aero bits, TRD has also released a new grille insert, a sport suspension kit, specific oil and fuel caps as well as a choice of 16-, 17- and 18-inch alloy wheels available in various designs.

The Japan-only Sai sedan, which made its debut at the Tokyo Motor Show this past October, features the same gasoline-electric hybrid system as the Lexus HS 250h.

The 2.4-liter Atkinson-cycle VVTi four-cylinder is linked to an electric motor and a battery pack achieving a total system output of 190HP. A continuously variable transmission and front-wheel drive round out the drivetrain.

Honda HSV-010 GT: NSX's Racing Replacement Caught on Video During Testing

Earlier this week, Honda released the first official details and a photo of its new HSV-010 GT, which stands for Honda Sports Velocity, and has been developed to replace the racing variant of the NSX in the GT500 class of the 2010 Super GT Series. Now we have the first videos of the blacked out racer that's the closest we'll get to the next generation NSX supercar.

You see, the HSV-010 GT is based on the NSX's replacement that Honda canceled at the end of 2008 due to the economic recession. The Japanese company had previewed the supercar which featured a front-mounted V10 engine in concept form through the Acura Advance Sports Car Concept at the 2007 Detroit Auto Show.

According to company sources, the V10 supercar would have been the Japanese automaker's most powerful production model ever.

The HSV-010 GT carries the production-ready supercar's shape and underpinnings though Honda's engineers swapped the V10 engine for a 3.4-liter V8 churning out some 500HP and replaced the rear-biased all-wheel drive system for a simpler rear-wheel drive layout to conform to the 2010 GT500 Regulations.

Honda's new GT is slated to make its official racing debut at the Super GT season opener at the Suzuka Circuit, held on March 20–21, 2010.

L.A. Times Investigation Claims Toyota Has Been Keeping a Lid on Potential Safety Problems

In the wake of Toyota's recent recall of a record 4.26 million vehicles in the United States because the gas pedal can get stuck in the floor mats and cause sudden acceleration, the Los Angeles Times has posted an article that portrays the Japanese automaker as a company that has habitually delayed or even covered up safety recalls and tried to put the blame on human error in cases where owners claimed vehicle defects.

The lengthy LA Times story investigates several cases going back almost a decade and examines how Toyota has dealt with recalls that concern safety issues in recent years.

Among the cases reported is a "dangerous steering defect in vehicles including the 4Runner" that was allegedly known by Toyota for years before a recall was issued in Japan in 2004, while it took the company another year or so to address the problem in the States, despite "having received dozens of complaints from drivers."

The newspaper notes that Toyota tried to avoid problems by paying cash settlements to people who claimed "their vehicles went out of control, sometimes causing serious accidents", according to consumers and their lawyers.

The LA Times report also finds that the sudden acceleration issue is not a new one and that it has been around for nearly a decade as a computerized search of NHTSA records found that Toyota has issued a total of eight recalls in relation to this problem since the beginning of 2000.

To its defense, Toyota sent a written statement to the newspaper saying that it has done its best to keep government officials and consumers informed about any potential safety problems with its vehicles.

"Toyota has absolutely not minimized public awareness of any defect or issue with respect to its vehicles," the company told the LA Times.

You can check out the complete LA Times story by clicking the link below.

Source: LA Times - Thanks for the tip Obsidian!

2010 Kia Sorento SUV Geared up by Cobra Technology & Lifestyle

The new generation Kia Sorento that made its debut earlier this year is the latest object of Cobra Technology & Lifestyle's tuning affections. Not that most Sorento buyers will actually ever need bull bars - that is, unless your parking skills are worse 16-year-old that just got his license, but Cobra offers a variety of front, rear and rocker panel guards including a lower front bar with integrated LED daytime running lights.

Once you're done with the body armor, you can also choose from numerous alloy wheel designs with diameters of 19 and 20 inches. The largest alloy wheels can be fitted with tires in size 265/45 R 20.

Fiat Group's Revised 2010-2011 Product Plan, Includes Chrysler-Based Sedans, Convertible and MPV for Lancia, 8C GTA for Alfa

During a Tuesday meeting in Rome with representatives of the government and trade unions, Fiat CEO Sergio Marchionne revealed the Italian group's product plan that has been revised after the alliance with the Chrysler Group earlier this year. We already told you about the introduction of Fiat's new twin-cylinder turbocharged petrol engine on the 500 mini next year, but let's see what else the group has in store for the European market.

Bypassing the new Alfa Romeo Giulietta and Fiat Doblo van that we already know about, Fiat's product plan concentrates on Lancia, a brand that up until now, was clearly neglected by the Italian firm. That's going to change now that Fiat has linked Lancia's portfolio with Chrysler's lineup.

First of all, 2010 will see a minor facelift for the Ypsilon mini and Musa mini MPV as well as a model year update on the Delta that is rumored to be revealed with a Chrysler badge at next month's Detroit auto show.

2011, however, promises to be a significant year for Lancia as Fiat plans to introduced four new vehicles -all of which will be derived from Chrysler models- to the brand's European lineup.

These include a mid-size family sedan and convertible (a Lybra successor most likely based on the Sebring), a new flagship luxury sedan (Thesis replacement that's rumored to be based on the 300) and a large MPV (probably the Town and Country).

In 2011, Fiat will also gain a Chrysler Group-derived crossover model while the most important introduction for the brand will be the next-generation Panda that will be offered with the firm's new twin-cylinder turbocharged engines.

Other than the new compact-sized Giulietta, Alfa Romeo's plans include a model year update for the 159 sedan, the presentation of the more hardcore 8C Competizione GTA and a light facelift for the MiTo supermini.

As you can see, Marchionne's plans for Alfa do not include the long awaited SUV / Crossover model nor a replacement for the 169. Apparently, the focus on the Lancia brand comes at the cost of Alfa's future...

All in all, over the next two years, the Fiat Group is planning the launch of 17 new models and upgrades of 13 existing models.

PS: The opening photo is a Carscoop photoshop

VIDEO: Chevy Volt Fast Laps the Parking Lot in Dodger Stadium

In this latest promotional video from GM, Andrew Farah, vehicle chief engineer for the Volt, took the EV for a quick lap around the parking lot in Dodger Stadium. And by 'quick lap' we don't mean any tire smoking (or at least not the kind you may get excited about), opposite steering antics - don't forget, this is the Chevrolet Volt electric-vehicle we're talking about... Hit the jump to watch the video.

2011 Saab 9-5 SportCombi: Estate Version Pictured Undisguised?

The boffins over at the Swedish news site 'Aftonbladet' have posted this photo of the estate version of the new Saab 9-5 without any camouflage whatsoever. We're not entirely sure if it's the real deal or not as while the shades and lights on the body suggest it's a static picture, the alloy wheels appear to have been shot on the move. We don't know.

But with Saab's future on hold for now, it may not matter as unless GM closes a deal with a potential buyer for its Swedish unit, chances are that neither the new 9-5 sedan nor its estate sibling will ever see the light of production.

Source: Aftonbladet

Ford Confirms Deal with China's Geely on Volvo Sale

While General Motors is still trying to figure out what it's going to do with its Saab division, Ford Motor Company announced today that it has settled all substantive commercial terms with China's Geely Holding Group Company Limited on the prospected sale of its Volvo unit.

Ford added that while some work still needs to be done before the deal is sealed such as final documentation, financing and government approvals, the company anticipates that a definitive sale agreement will be signed in the first quarter of 2010, with closing of the sale likely to occur in the second quarter of the same year.

"The prospective sale would ensure Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement its core ONE Ford strategy," Ford said in a statement,

The Detroit automaker added that it would continue to cooperate with Volvo Cars in several areas after the sale, but it does not plan to retain any shares in the business.

It is said that Geely is offering the U.S. automaker somewhere around $2 billion dollars for Volvo Cars which is less than a third of what Ford paid for the Swedish brand a decade ago.

With the prospected sale of Volvo, Ford will offload the last brand in the Premier Automotive Group that also included Jaguar, Land Rover and Aston Martin.