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How well is Ferrari really doing? Results analysed

Ferrari seems to be holding up well in the global recession, according to figures announced this week. Its market share is up, consolidated revenues fell just 7% in 2009 and overall operating profit stood at a juicy €245m. Not a bad performance in the biggest economic downturn for generations.Ferrari operates in the upper echelons of the premium sports car market: serious stuff with at least 450bhp and a minimum €140,000 price tag.

NHTSA to study power-steering complaints in the Toyota Corolla

U.S. highway safety officials will begin a formal investigation into electric power steering complaints in the Toyota Corolla, a person familiar with the plan said. The National Highway Traffic Safety Administration study will focus on vehicles from the 2009 and 2010 model years, said the person, an agency representative who didn't want to be identified before an announcement is made.

MINI Countryman to be built in India

MINI sells worldwide – even in the US – and, despite claims it was a step too far for the brand, the MINI Countryman has been a big hit for MINI, offering as it does most of MINI’s charm but in a bigger, more family friendly package and with the option of All4 4WD for a degree of off-road ability (well, certainly the ability to treat boot sale car parks with disdain). Now, for the first time, BMW is to build the MINI outside Europe with a new MINi assembly facility coming on stream in Chennai, India, where BMW already makes 3 and 5 Series models as well as the X1 and X3. The plan is part of BMW’s plan of ‘Production follows the market’ where BMW aim to make their cars where they’re sold, so with the MINI brand showing strong growth in India since its launch it makes sense to build them there.