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Ferrari SP Arya – a one-off Ferrari 599 GTO for Cheerag Arya

Indian-born and Dubai-based Cheerag Arya has commissioned a special one-off Ferrari 599 GTO – the Ferrari SP Arya. When your pockets are very deep and your love of all things Maranello runs in your blood, Ferrari Special Projects will bend over backwards to give you what you want. Just as they did with Eric Clapton and the  Ferrari SP12 EC Indian born businessman Cheerag Arya (know as CA), still only 32, spent many years working in the US but now lives in Dubai where he runs his family’s petrochemical business and indulges in his passion for Ferrari, particularly Ferrari’s big GT cars.

Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

Mitsubishi to recall i-MiEV to fix airbag sensor

Mitsubishi will recall 261 of the company's 2012 i-MiEV electric vehicle for a potential faulty airbag sensor. According to Mitsubishi, the front airbags could deploy late or not at all during a crash, due to a software compatibility issue. Mitsubishi will notify owners to replace the sensors if their vehicles are affected.