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Pininfarina family to lose control of company

The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.

Company cars linked to speeding

COMPANY CAR drivers are far more likely to exceed the 70mph motorway speed limit than private motorists, according to an RAC survey. As many as 88% of those behind the wheel in firms' vehicles regularly exceed the limit compared with 67% of private motorists. Also, 62% of company of company car drivers said they reached speeds of 80mph on motorways, almost double that of regular motorists (32%).

More than 1,000 Porsche 911 to celebrate 50th anniversary at 2013 Silverstone Classic

Classic Porsche 911s will be at the Silverstone Classic Anniversary Parde Ferrari managed a record parade of 964 Ferraris at Ferrari’s 2012 Racing Days at Silverstone last year and now, with 2013 being the 50th anniversary of the launch of the Porsche 911, Silverstone are planning a parade of over 1,000 911s at this year’s Silverstone Classic. Mind you, with over 800,000 Porsche 911s produced since the first 911 arrived in 1963, it will have been a lot easier to find 911s than it was Ferraris. In fact, it’s been so easy the applications to take part by 911 owners has been oversubscribed.