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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.

Mercedes S500 Plug-in Hybrid revealed – gets official 94.2mpg

The Mercedes S500 Plug-in Hybrid (pictured) has been revealed There will come a point when legislators wake up and realise that car makers are getting too clever at gaming their CO2 based taxation and change the goal posts. But until then, cars like the new Mercedes S500 Plug in Hybrid – revealed today – are the perfect company buy. That’s because the clever use of a plug-in electric motor coupled with a relatively frugal ICE engine – in the case of the S500 Plug-in a 329bhp 3.0 litre V6 and 80kW electric motor – produce official economy and emissions figures that are really only valid under test conditions but save a big chunk of tax for buyers.

Fiat wants a crossover to compete against the Volkswagen Golf

Fiat has decided it won't launch a new conventional hatchback to rival the Volkswagen Golf, Europe's best-selling car. Instead, Fiat CEO Sergio Marchionne wants the Italian automaker to replace its slow-selling Bravo compact hatchback with an all-new high-roof crossover inspired by the hot-selling Nissan Qashqai. Marchionne first hinted at Fiat's plan to make the bold product move at the Detroit auto show in January.