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Cash-for-clunkers deal to end Monday night, government says

The Obama administration plans to cut off dealer funding for the cash-for-clunkers program on Monday at 8 p.m. Eastern, after finding that the $3 billion fund is nearing depletion, Transportation Secretary Ray LaHood said. "The overriding objective was to be conservative and to provide an adequate window for a soft landing," a senior administration official said in a conference call with reporters Thursday.

Kia GT and Provo look to be heading in to production

The recent Kia Provo Concept and the impressive Kia GT look like they’re heading in to production as Kia move upmarket. Equally, the stunning Kia GT concept we saw at 2 years ago at Frankfurt  - a swoopy coupe Kia take on the Mercedes CLS – was equally convincing, although we’d begun to think Kia had gone cold on the idea of putting the Kia GT in to production. But Auto Express are reporting that both the Provo (with a change of name ) and the GT are close to being signed off for production after a conversation with Benny Oeyen, Kia’s marketing boss in Europe.

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.