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Sergio Marchionne warns of strife ahead in Europe

Fiat chief exec Sergio Marchionne today warned of troubled waters ahead as Europe's car makers prepare for a radical restructuring. Marchionne, who's the current president of trade body ACEA, said factory closures were looming and repeated his call for a concerted EU-wide response to overcapacity. He warned that national interest was blocking action to strip out excess capacity, caused after European new car demand crashed by 3 million in the past five years.

Porsche Panamera UK prices announced

Porsche Panamera - UK prices announced [ad#ad-1] Finally, the long, drawn-out saga of the Porsche Panamera’s gestation from concept, to spy shot, to tease, to reveal is over, with Porsche releasing the UK prices for the Panamera today, and the first UK Cars being delivered in September. Prices start at £72,266 for the Panamera S (which gets the 4.8 V8), £77,269 for the Panamera 4S (which also gets the V8 but with 4WD) and £95,298 for the range-topping Panamera Turbo. Still to come, although not until next year, is the Diesel, and the year after the Hybrid.

Hyundai loses top U.S. designer

Hyundai's North American design chief, Joel Piaskowski, left the automaker on Dec. 31. Piaskowski is credited as the main designer for the Hyundai Genesis sedan and coupe.