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Slump in new car sales is worst since February 2006

By Nigel Wonnacot Motor Industry 07 July 2008 12:42 It’s finally happened. The new car market has succumbed to the economic slowdown and punters are staying away from showrooms in droves. Latest figures from industry trade body SMMT showed an 11.9 per cent fall in private sales in June to 83,425 cars.

Crunch watch Mar 09: the auto industry in crisis

By Ben Pulman and Tim Pollard Motor Industry 31 March 2009 13:48 Tuesday 31 March 2009• Porsche said that its earnings before tax rose to €7.3 billion in the six months to the end of January – including a €6.8bn windfall from its VW share options (Financial Times)• Fritz Henderson, GM's president and chief operating officer, will step up to replace Rick Wagoner, who was ousted on Sunday as CEO of General Motors (Financial Times)• President Obama is essentially CEO-in-chief of GM – despite not owning a single cent of stock, says Detroit News commentator (Detroit News)• German chancellor Angela Merkel gives assurances that any would-be investors in GM's European arm will be given state support. Opel is asking for €3.3 billion in aid – and up to 25,000 jobs in Germany depend on it, with up to 300,000 jobs across Europe including Saab and Vauxhall (BBC News)Monday 30 March 2009• General Motors' chief executive Rick Wagoner has been ordered to resign by US president Barack Obama with immediate effect. It's part of Obama's administration's critique of GM and Chrysler's turnaround plans – he's understood to be unhappy with the plans submitted (BBC News)• New GM non-executive chairman Kent Kresa has admitted that at the company's next general meeting it will have 'a majority of new directors' (General Motors)• Chrysler will receive US government aid for the next 30 days, but the Obama administration has said that if the company cannot secure a tie-up with the Fiat Group within that time period it will not receive any more money from the taxpayers and could go into liquidation.

Ferrari 458 Italia (2010) – the official videos

By Tim Pollard First Official Pictures 29 July 2009 09:58 Yesterday we brought you the first official pictures of the new Ferrari 458 Italia. Today we bring you 458 Italia video footage inside the cabin of Ferrari’s new V8 and a short clip of it being driven on track. The new 4.5-litre V8 Italia will be launched in the UK in spring 2010 and is likely to wear a price tag somewhere between the outgoing F430 (£140k) and the Scuderia (£170k).