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McLaren managing director on leave, not expected in Geneva

McLaren Automotive's U.S.-born managing director, Antony Sheriff, is expected to be absent from the launch of the P1 hypercar at Geneva next week because he is on extended leave from the company. No reason for Sheriff's absence has been given, although McLaren is at pains to point out that he is “still employed as McLaren Automotive's managing director.” Rumors were circulating about Sheriff's absence from Woking in January, but company spokesmen back then stressed that he was still employed by McLaren and would unveil the P1 at Geneva. Despite those assurances, sources had reported earlier in the year that Sheriff “hadn't been seen in his office” for some days.

Lamborghini reports drop in profits

Lamborghini has announced a pre-tax loss of £32m for 2009 as the world recession led to a slump in supercar sales. Lambo delivered 1515 supercars last year, down 38% from 2008's 2430.  Turnover dropped 41% to £215m. It's a far cry from the dizzy heights of the boom years.

Ferrari auction raises funds for Japan relief

Car lovers came together for a good cause at the Italian Embassy in Tokyo on Monday. More than 200 people participated in a Ferrari charity auction, which raised more than 500,000 euros, or about $723,000 at current exchange rates. Proceeds will benefit the city of Ishinomaki, which was severely hit by the earthquake in Japan in March.