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20 special-edition copies of the Ferrari 458 Italia sent to China

The first factory car from Maranello to hit the shores of China was a 1992 Ferrari 348 TS. Twenty years later, Ferrari is celebrating its anniversary in the country by producing 20 special-edition copies of the 458 Italia inspired by the market. In addition to the car, Ferrari will open its first permanent brand exhibition outside of Maranello at the Italian Center of Shanghai's World Expo Park.

Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

Lamborghini Gallardo LP560-4 Spyder revealed

The Lamborghini LP560 has been with us for a few months now, so bang on cue Lamborghini has announced the convertible version – The Lamborghini Gallardo LP560-4 Spyder (what a mouthful – I think we’ll just stick with ‘LP560′). The Spyder version of the original Gallardo was always one of our favourites. It gave away so little to the hard-top version it really made sense to have the convertible – a rare thing with a performance car.