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VW Space Up concept

By Ben Pulman First Official Pictures 24 October 2007 10:30 Up, up, and away… Yes, the Volkswagen Up is back. The Tokyo Motor Show today saw VW unveil a second iteration of their new small family car – a third model will be shown at the LA Auto Show in November 2007. Called the Space Up!, the rear-engined car is a stretched version of the three-door we saw at the Frankfurt Motor Show earlier in the year.

GM considers CVTs for small cars

General Motors Co., aiming to give its small cars a sales edge, may introduce continuously variable transmissions to deliver better fuel economy, executives say. GM doesn't use CVTs now. But they could be used on models such as the Chevrolet Spark, Aveo and Cruze in the next three years, said Mike Arcamone, CEO of GM Daewoo Auto & Technology.

Pininfarina family to lose control of company

The 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.