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Pininfarina family to lose control of company
Wed, 15 Feb 2012The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.
Lotus secures more funding, but five-year plan is dead
Mon, 22 Jul 2013The five-car, five-year plan for Lotus developed under Dany Bahar is dead, according to an Autocar report. But rumor has it that the sexy Esprit concept could be revived at a low cost. Tan Sri Mohd Khamil Jamil, managing director of the company that owns Lotus parent company Proton, DRB, confirmed that the company sold 70 cars in the U.K.
New Lexus GS F Sport (2012) revealed
Tue, 25 Oct 2011Lexus GS F Sport (2012) revealed ahead of SEMA debut Is middle age taking over or are Lexus cars getting better looking? Because the new Lexus GS F Sport, just revealed ahead of its SEMA debut, is really rather appealing. Already much sharper looking in its latest iteration, the Lexus GS almost turns back in to the LF-Gh Concept - which heralded the arrival of the 2012 Lexus GS – with the F Sport bits tagged on.