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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.

Ford will fix software in Fusion, Milan hybrids

While not labeling it a recall, Ford Motor Co. said Thursday that it will update the software of the regenerative braking system on some already-delivered 2010 Ford Fusion Hybrids and Mercury Milan Hybrids. An Associated Press report said a total of 17,600 Fusion and Milan hybrids will be updated.

Superb wins Tow Car of the Year

THE SKODA SUPERB Estate has been crowned Tow Car of the Year by the Caravan Club, beating off competition from 40 other entrants including Range Rover and Jaguar. Commenting on the Superb’s ability, the judges remarked: ‘With a loading limit of 100kg on the roof, 80kg on the towball and a boot that scored maximum marks, it’s a very tough act to follow. You wouldn’t know you were towing a caravan.’ Skoda also won the £16,000-£20,000 category with the new Octavia 1.2 TSI, which was praised for its pulling power with such a small engine.