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Toyota hands over small-car development to its European unit

Toyota Motor Corp.'s European division next month will take charge of global product planning for small cars as the Japanese automaker expands model research and development in the region. The change, announced Dec. 17, means that Toyota will count on Europe to develop future products in the minicar, subcompact and compact segments, something that Ford Motor Co.

News watch July 2012: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Tuesday 31 July 2012•Porsche SE recorded a first half profit of €1.15bn, in comparison with €149m for the same period in 2011. The enormous jump has come not from directly selling cars, but from the group's investments in Porsche Zwischenholding GmbH and Volkswagen AG (Porsche SE)•Reuters suggests Germany's car market is in recession, but few outside the industry would know it, thanks to a controversial sales practice that inflates official statistics and paints a flattering picture of demand.

There will NOT be a ‘Super’ LaFerrari after all

Ferrari has been on the phone this morning to explain that the man from Autocar who spoke to LaFerrari’s chief designer, Flavio Manzoni, got hold of entirely the wrong end of the stick when discussing the design elements Ferrari didn’t use on LaFerrari. It seems Manzoni was explaining that during the design process for LaFerrari there were many design elements that couldn’t be included on LaFerrari, but were so good they wanted to keep them for use on future Ferraris. That was seized upon as confirmation that Ferrari were planning a ‘Super’ LaFerrari to sit above the new supercar at an even more extreme price.