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China's Geely buying majority stake in Lotus

Geely, the Hong Kong car company that owns Volvo, is acquiring control of British car company Lotus. Geely is purchasing a 51-percent stake in Lotus from struggling Malaysian car company Proton, and a 49.9 percent stake in Proton itself. Etika Automotive will gain the other 49 percent of Lotus. France's PSA Group and Japan's Suzuki had apparently also been interested in acquiring Proton. Geely says it plans to revive both Proton and Lotus. "The agreement lays the foundation for a wider framework for both Geely Holding, Proton and Lotus to explore joint synergies in areas such as research and development, manufacturing and market presence," Geely said in a news release. Those joint synergies will be highlighted by the lightweight chassis technology Lotus is known for, which could help Geely improve fuel efficiency. Geely CFO Daniel Donghui Li said the company aims to "unleash the full potential of Lotus Cars" by expanding and accelerating new products and technologies. Proton was nationally held but was privatized in 2007 to Malaysian conglomerate DRB-Hicom, which is owned by tycoon Syed Mokhtar Al-Bukhary. It was supposed to be the flagship for Malaysia's economic development.Though it owns two factories, Proton mainly rebadges foreign-made cars and sells them in Malaysia. What it has, what Geely presumably wants, is a distribution network in Southeast Asia to pit Chinese cars against Japanese automotive dominance in the region. Retaining a 50.1-percent stake in Proton is seen as a face-saving move. "Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysian finance official Johari Abdul Ghani said. "Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope." Related Video:

Volvo prices revamped 2014 lineup

Volvo has made quite a few changes to its US lineup for the 2014 model year. The C30 hatchback and C70 convertible are gone; the S60, S80, XC60 and XC70 have all been reschnozzed; and in a few months, Volvo will bring its V60 wagon across the pond for Stateside consumption. Only the range-topping XC90 carries on unchanged, though a brand new version is expected to launch sometime next year.
The S60 starts as low as $32,400 for the entry level T5 model, and reaches as high as $45,700 for the T6 R-Design Platinum trim. The larger S80 sedan starts at $39,900, with its range-topping T6 Platinum version commanding $48,150. XC70 pricing ranges anywhere from $34,500 for the 3.2 FWD to $45,650 for the T6 Platinum, XC60 numbers span from $34,850 to $49,800, and XC90 prices start as low as $39,700 and as high as $45,400. None of these prices include $895 for destination, and pricing for the swoopy V60 wagon has not been released just yet.
While the majority of Volvo's 2014 model year enhancements are visual, some neat updates have been made mechanically, as well. There's a new Advanced Quick Shift mode for the six-speed automatic transmission that's paired with the turbocharged six-cylinder engine, and Volvo says that the S60 R-Design will now scoot to 60 miles per hour two-tenths of a second quicker (5.3 versus 5.5). In the XC60 R-Design, AQS improves 0-60 acceleration by four-tenths of a second, down to 6.2 from 6.6 seconds.

Vehicles awarded IIHS Top Safety Pick awards skyrockets for 2015 [w/video]

By practically every measure, passenger vehicles in the US are continuing to get safer. With the year rapidly coming to an end, the Insurance Institute for Highway Safety is releasing its annual list tallying of the scores for the latest vehicles to see how they compare to last year. Judging by the agency's evaluations, the numbers look quite positive. According to the institute, 71 vehicles earned either the Top Safety Pick or Top Safety Pick+ rating so far in its testing for 2015. Among the latest winners, there have been 33 TSP+ awards and 38 TSP medalists. That's a healthy increase over the 22 TSP+ and 17 TSP grades in 2014. The figures appear even more impressive when you consider that it keeps getting harder to earn the + designation. In the latest round of testing, a vehicle must offer some form of front crash prevention automatic braking to get the mark. Previously, just a warning to drivers was necessary. This list also illustrates the ways that automakers adapt to new testing procedures. In 2013 there were 117 TSP ratings and 13 TSP+ awards. Then, the IIHS mandated that to be a safety pick, a model had to score Good in the institute's four crash tests, plus a Good or Acceptable in the small overlap front test. That brought a plunge in 2014 to just 17 TSP grades. With the numbers climbing again, companies apparently have deciphered how to perform better. Some brands especially stood out on this year's list. The IIHS praised Volvo, Mercedes-Benz and Acura for offering standard front crash prevention systems on some models. Subaru received at least one of the awards for all seven of its models. Toyota also had seven, and the Honda brand did too – though the institute counts the two- and four-door versions of the Civic and Accord separately. Check out the full announcement below and a video about this year's winners. The full list can be viewed, here. Safety gains ground: More vehicles earn top honors from IIHS The number of vehicles earning either of the Institute's two awards has jumped to 71 from 39 this time last year, giving consumers more choices for optimum protection in crashes. The number of winners in the top tier - TOP SAFETY PICK+ - has increased by 11 for 2015, despite a tougher standard for front crash prevention. "This is the third year in a row that we are giving automakers a tougher challenge to meet," says IIHS President Adrian Lund.