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Ferrari looks at layoffs, cuts back production

We guess it's not all GTOs and 458 Italias. The word out of Italy is that Ferrari is looking at cutting production and eliminating 9 percent of its workers after sister company Maserati cut engine orders. Ferrari made only about 4,500 engines for Maserati last year, compared with nearly 9,000 in 2008.

McLaren lock out front row in Australian F1 Grand Prix qualifying

Lewis Hamilton is on pole with Jenson Button alongside for the 2012 Australian F1 Grand Prix Lewis Hamilton is on pole with Jenson Button alongside for the 2012 Australian F1 Grand Prix after qualifying in Melbourne. Most of the pit lane thought McLaren had got it wrong with their new nose – a sleek nose instead of the stepped one almost all the rest of the field have this year – but as far as the opening qualifying of the 2012 F1 circus they seem to have got it just right. Hamilton set a stunning lap to open final qualifying, with Jenson Button managing to almost match his team mate with a lap just 0.152 seconds behind to make the front row a McLaren lock-out.

Cash-for-clunkers clears 180,000 in sales, is poised for an extension

The cash-for-clunkers program has reached sales of more than 180,000--topped by the Toyota Corolla--as the Senate is poised to vote on an extension of the program on as soon as Thursday. The Ford Focus is the second-best-selling car under the program, and the Honda Civic, the Toyota Prius and the Camry complete the top five, according to Reuters. The top trade-ins were all domestics, including trucks from Ford and Dodge, as well as Jeep.