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Pininfarina family to lose control of company

The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.

Chrysler and Nissan cancel vehicle-swapping deal

Chrysler and Nissan are canceling their 2008 deals to build vehicles for each other, the automakers announced Wednesday afternoon. Chrysler was to provide Nissan with a full-sized truck, based on the Dodge Ram, starting in 2011. It would have been a replacement for the Nissan Titan.

Ferrari 599XX unveiled at Geneva motor show 2009

By Ben Pulman First Official Pictures 03 March 2009 13:02 This is Ferrari's 690bhp 599XX, a stunning €1.1million showpiece for the Prancing Horse’s future technologies. Let’s start with the engine. It’s basically the V12 from the awesome Enzo, so a little extra power is easily achievable.