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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.

Mazda wins 2008 LA Design Challenge

The Mazda Kaan concept has won the fifth annual LA Design Challenge competition, part of the Design Los Angeles automobile designer's conference. The award was presented during the second press day of the 2008 Los Angeles Auto Show, following a designers' luncheon and keynote speech by Daniel Simon, visionary futurist and author of Cosmic Motors. As we reported last month, nine local Southern California design studios entered the competition to envisage how motor sport vehicles might be in the year 2025, answering the theme ‘Motorsports 2025'.

Maserati Classiche book series debuts

Maserati unveiled its new series of books known as Maserati Classiche on Wednesday. The new series is comprised of books dedicated to specific Maserati models. Each book includes the original parts catalog, owner's manual and a 1:43 scale model of the car.