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Ferrari looks at layoffs, cuts back production

We guess it's not all GTOs and 458 Italias. The word out of Italy is that Ferrari is looking at cutting production and eliminating 9 percent of its workers after sister company Maserati cut engine orders. Ferrari made only about 4,500 engines for Maserati last year, compared with nearly 9,000 in 2008.

Lotus, Toyota celebrate engine deal

Lotus CEO Dany Bahar presented Toyota president Akio Toyoda with a Lotus Elise this week at the British Embassy in Tokyo, celebrating the companies' long partnership. The Elise was equipped with Toyota's last 2ZZ-GE VVTL-i engine, the same engine found in older versions of the Lotus Elise and Exige. “The presentation of Toyota's last 2ZZ engine in the Elise is a symbolic gesture of our continued respect and deep appreciation for our partner not only acknowledging our past, but also looking forward to our future together,” Bahar said in a statement.

Car insurance market condemned by MPs

CAR INSURANCE is a "highly dysfunctional market" in which firms' pursuit of profit has led to higher prices for consumers, a report by MPs has said. In some cases, business practices have not been in the consumer interest and have "inadvertently encouraged criminal activity", the report from the House of Commons Transport Committee said. There was no clearer example of this than "insurance firms' willingness to pay compensation for whiplash claims which they suspect are fraudulent without requiring the claimant to undergo a medical examination".