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Nissan Leaf is European Car of the Year 2011

The Nissan Leaf has won the 2011 European Car of the Year gong, it was announced today. It's the first electric car to win the award. The European Car of the Year whittled down 41 contenders to a shortlist of seven.

New Ferrari California T gets new twin turbo V8 with 49% more torque (+video)

The new California T (pictured) revealed ahead of a Geneva debut It’s been a long time since Ferrari gave one of its cars a turbo charged engine, not since the late ’80s and the Ferrari F40, but that all changes – and no doubt points the way to the future – as the Ferrari California T gets revealed ahead of a debut next month at the Geneva Motor Show. Based on the V8 Ferrari build for the Maserati Ghibli, the California T’s new engine is a 3.8 litre twin turbo with 552bhp and a mountain of torque, 557lb/ft, a massive 49 per cent more than the current California produces. That improves performance marginally – 0-62mph in 3.6 seconds and a top speed of 196mph – but has a big impact on economy; the new California T improves on the current California by 15 per cent, recording official figures of 27mpg and 250g/km.

Fiat's Montezemolo plans to quit as chairman, sources say

Fiat S.p.A. Chairman Luca Cordero di Montezemolo will quit as company chairman to go into politics, three sources close to the company said. Montezemolo is set to stay on Fiat group's board, as well as remain chairman of the company's Ferrari sports car subsidiary.