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Caterham AeroSeven Concept [w/Video]

Caterham has unveiled its motorsport-inspired AeroSeven Concept road car at the Singapore Grand Prix. The two-seater concept previews the carmaker's future engineering and design direction for models including the sportscar being developed in collaboration with Renault for early 2016. The AeroSeven Concept is going into production next year and is the first model to be designed and developed with input from all three of Caterham's divisions: Caterham Technology and Innovation, Caterham F1 Team and Caterham Cars.

Crunch watch Mar 09: the auto industry in crisis

By Ben Pulman and Tim Pollard Motor Industry 31 March 2009 13:48 Tuesday 31 March 2009• Porsche said that its earnings before tax rose to €7.3 billion in the six months to the end of January – including a €6.8bn windfall from its VW share options (Financial Times)• Fritz Henderson, GM's president and chief operating officer, will step up to replace Rick Wagoner, who was ousted on Sunday as CEO of General Motors (Financial Times)• President Obama is essentially CEO-in-chief of GM – despite not owning a single cent of stock, says Detroit News commentator (Detroit News)• German chancellor Angela Merkel gives assurances that any would-be investors in GM's European arm will be given state support. Opel is asking for €3.3 billion in aid – and up to 25,000 jobs in Germany depend on it, with up to 300,000 jobs across Europe including Saab and Vauxhall (BBC News)Monday 30 March 2009• General Motors' chief executive Rick Wagoner has been ordered to resign by US president Barack Obama with immediate effect. It's part of Obama's administration's critique of GM and Chrysler's turnaround plans – he's understood to be unhappy with the plans submitted (BBC News)• New GM non-executive chairman Kent Kresa has admitted that at the company's next general meeting it will have 'a majority of new directors' (General Motors)• Chrysler will receive US government aid for the next 30 days, but the Obama administration has said that if the company cannot secure a tie-up with the Fiat Group within that time period it will not receive any more money from the taxpayers and could go into liquidation.

Ferrari 458 Italia recall?

Just 1 of at least 10 Ferrari 458 Italia Fires Update 1/9/2010: It took Ferrari a while to catch up with our story – well, a couple of days – but they got there. Ferrari say the fires on the 458 Italia are caused by the glue attaching a heat shield catching fire under high temperatures. Which sounds extremely odd, but that’s the explanation.