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News watch March 2012: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Friday 30 March 2012• Fiat is suffering from its decision to suspend new product innovation during the recession, argues ANE. It is losing ground on account of delays to its Punto range, which won't be replaced until 2014, and the ageing Bravo, which was launched in 2007 and has no successor in sight (Automotive News Europe)• Mercedes plans to build the new four-door coupe spun off the A- and B-class architecture at its new Hungarian factory (Automotive News Europe)• Opel denies rumours it may sell the Eisenach factory in east Germany where it builds the Corsa supermini (Automotive News Europe)• Mercedes is cutting the time it takes to build a car from 43 hours in 2008 to nearer 30 hours by 2015, according to production boss Wolfgang Bernhard.

Twin-turbo Ferrari 458 Italia takes on the Lamborghini LP-700-4 Aventador: Video

Exotic-car tuner Underground Racing from North Carolina prepared a Ferrari 458 Italia with a “bolt-on” twin-turbo system, boosting engine output to 700 hp. For comparison, the tuner matched the blown Ferrari against a Lamborghini LP-700-4 Aventador and its naturally aspirated 6.5-liter V12, rated at 700 hp. “We were interested to see how they stacked up against each other after seeing a twin-turbo Gallardo almost get beat by an Aventador,” Underground Racing president Kevin Howeth said.

Toyota Prius recalled for two fixes

Toyota Motor Corp. will recall 2.77 million vehicles worldwide--including 670,000 Prius hybrids in the United States--to fix a possible water pump problem and steering defect. The electric water pump recall covers five models globally for a tally of 630,000 vehicles.