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Pininfarina family to lose control of company
Wed, 15 Feb 2012The 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.
Caterham off to China in 2012
Wed, 20 Jul 2011Caterham Cars - China Bound It’s quite an eventful time for car-making minnows Caterham – keepers of the Colin Chapman Flame- with a takeover at Caterham by Tony Fernades and Team Lotus only just complete, and now the news that Caterham are going to be selling cars in China from 2012. The takeover by Team Lotus has seen Caterham Cars’ profile on the international stage rise considerably as its logos appear on the Team Lotus F1 cars, which will do its prospects of selling Caterhams around the world no harm at all. Caterham has now signed an exclusive deal with Chinese importer Courtenay Trading International (CTI) who are aiming to appoint six retailers in key provinces of China over the next twelve months with a modest sales target of 50 cars in the first year.
Land Rover Range-e plug-in diesel hybrid grabs SMMT Award
Wed, 23 Nov 2011Land Rover Range-e wins SMMT Award Just like every other car maker in the world, Jaguar Land Rover are flirting with and developing hybrid powerplants to keep the government-targeted economy and CO2 levels in check, even though neither Jaguar or Land Rover are close to actually launching a hybrid. In fact, Jaguar recently said that 4WD was the next ambition for their cars – not hybrids – and we won’t see a hybrid from Land Rover until the next wave of Land Rover models start to hit the road in 2013. And even then, any hybrid powerplant is likely to be well after initial launch.