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Ferrari’s prancing horse in a spin-off

October 31, 2014

Fiat Chrysler Automobiles (FCA) has announced that it is going to do what Chief Executive Sergio Marchionne has been trying to resist, and that is to spin off its Ferrari sports car brand as part of a scheme for the company to raise a whopping US$2.5 billion to help fund its very ambitious business plan. Marchionne had been resisting a listing of Ferrari for many years, but in an interview early this month, he signaled a change of heart when he described Ferrari as a “phenomenal carrot” for US investors.

Tech startup offers valet on demand

October 27, 2014

We’ve wrote about having virtual valets that could electronically control and park our cars for us, and while that technology is still under development, we have a mobile app solution (is there any other kind nowadays?) in the interim.

Honda CEO takes pay cut

October 27, 2014

If employees get bonuses and pay rises for good performance, should they get pay cuts for bad performance? Apparently, Japanese automaker, Honda, thinks that they should. As the company is being hit with the growing exploding airbag crisis that has dented its reputation for quality, its CEO Takanobu Ito will take a 20% cut for three months starting from November. Chairman Fumihiko Ike and 11 other directors will also be taking a pay cut of 10%.

Philippines eye Auto-manufacturing Growth

October 21, 2014

Back in the sixties, the Philippines was somewhat of an automotive manufacturing hub for the region; then, for various reasons, the hub shifted to neighbouring countries, and the Philippines has been trudging behind Thailand, Indonesia and Malaysia in auto production and sales. But the country has been revving up to revitalise the industry, eager to capitalise on its increasing disposable income and large available workforce.

Toyota’s 2015 NASCAR Camry

October 17, 2014

Toyota has lifted the veil off the 2015 Toyota Camry NASCAR race car, which is revving up to compete in the next season of the NASCAR Sprint Cup Series, and will also compete in the 2015 NASCAR Xfinity Series.