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Toyoda says company is ‘grasping for salvation', fears big sales loss

Toyota Motor Corp. President Akio Toyoda said his money-losing automaker is “grasping for salvation” as it struggles to return to profit. The world's largest car company was once targeting annual sales of 10 million vehicles but now expects sales of 7.3 million this year, down from 8.97 million in 2008, Toyoda said today at a news conference.

Ferrari-designed Santa's sleigh (2010)

Ferrari is used to building high-speed sports cars, but now it's undertaken a far more difficult design study: building the Ferrari sleigh for Father Christmas. Penned by the design team in Maranello led by Flavio Manzoni, the Ferrari supercar sleigh is said to use many of the design principles which underpin its roadgoing supercars such as the 458 Italia and California. It’s a lightweight sledge with the iconic Prancing Horse depicted on its flanks and racing numerals on the door panels.

Porsche sees double with new Turbo Cabriolet models

THE NEW Porsche 911 Turbo Cabriolet has been revealed ahead of its launch at the Los Angeles Motor Show. The model takes a largely familiar format to modals that have gone before it, but this time the German firm is releasing two Turbo models at the same time. The 513bhp Turbo Cabriolet will be the entry point to the forced-induction 911 duo, starting at £126,766 before options.