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Citroen to launch '3CV' plus DS3 cabrio, DS4 SUV, DS6

Citroen is working on a '3CV', a radical new entry-level model positioned between C1 and C3. Imagine the previous C2 pepped up by the glittery polish that's made the DS3 such a success, and you're not far off Citroen's new city car vision. Known inhouse as Citroen Trois Chevaux (3CV), it reportedly captures the spirit of the quirky Ami 6, draws on the space efficiency of the 2CV and mimics the ride comfort of the hydropneumatically sprung GS.

Is Ferrari for sale?

Reports out of Europe have Fiat considering selling a big chunk of Ferrari S.p.A. to raise cash so it can increase its stake in Chrysler Group to 51 percent. The Italian newspaper Il Corriere della Sera said it has gathered information at Fiat’s Turin headquarters and reported Fiat wants to raise cash to fund buying 51 percent of Chrysler, up from the 20 percent it owns now.

Crunch watch Dec 09: the auto industry in crisis

Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 30 December 2009• Saab's PR chief told AN that GM is extending the deadline for a sale to 7 January – and the Trollhattan factory will resume limited manufacturing in early January to build the new 9-5 and some 9-3 cabrios (Automotive News, subscription required)• Last night Bloomberg reported a Saab board member claiming that the 31 December deadline for a Saab sale or closure 'is not holy'. If GM receives a bid that is 'sufficiently interesting', it'll extend the deadline, said the Saab suit (Automotive News, subscription required)• GM is offering massive discounts on Pontiac and Saturn cars, as it seeks to get rid of the remaining stock from these terminated brands.