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Ferrari apologizes for employee filmed doing donuts in China

Ferrari issued an apology on Wednesday after one of its employees was filmed doing donuts in a 458 Italia 20th Anniversary Special Edition on the 600-year-old Ming Dynasty wall in the city of Nanjing. The online community has been up in arms, with users of Wiebo, China's version of Twitter, being allowed to complain the loudest. Much of the anger was directed at the Chinese government, which rented the wall for the occasion at a cost of $12,000.

Is Ferrari for sale?

Reports out of Europe have Fiat considering selling a big chunk of Ferrari S.p.A. to raise cash so it can increase its stake in Chrysler Group to 51 percent. The Italian newspaper Il Corriere della Sera said it has gathered information at Fiat’s Turin headquarters and reported Fiat wants to raise cash to fund buying 51 percent of Chrysler, up from the 20 percent it owns now.

Chevrolet six-month global sales highest in a century

Chevrolet saw 2.35 million global sales in the first six months of 2011--its best first-half mark in 100 years. The automaker credits the success of new small-car models for much of the growth, namely the Cruze compact, the Spark minicar, the Aveo/Sonic small car and the Orlando MPV. Chevrolet sales increased 14 percent in the United States from the same half-year period in 2010, with 286,499 more units sold.