What will the luxury Lambo have to offer? Well here are some of the things to watch out. The luxury model will be equipped with an all wheel-drive transmission and a V10 engine. It will come in a four-door sedan based on the Estoque concept. On whether the rumor is for real or not, the idea is not far-fetched.

(Source) Auto Spies

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Many Ferrari lovers are eagerly awaiting the next release of the Italian car manufacturer and thanks to this site, we catch a glimpse of the latest Ferrari model, the F450. The Ferrari F450 is expected to replace the previous F430, promising more power and improved looks.

Official performance numbers have not been released as this car is still in the hush – hush mode but the car is rumored to have a new 4.5 liter Ferrari V8 engine that will sound like pure heaven to any motoring enthusiast.

New improved dynamics and a rear diffuser should also be fitted to the new Ferrari F450 giving it one very exotic shape.

(Source) Lux Velocity

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“During the dialogue [with the presidential task force], and in the additional data we have supplied in response to their requests, we have continued to emphasize that Chrysler is a viable business on a stand-alone basis and our future is further enhanced through the proposed global alliance with Fiat,” he wrote.

Nardelli also estimated that the deal with Fiat, which would give the Italian car maker a 35% stake in Chrysler, would bring the company between $8 billion and $10 billion.

“There is still considerable work and negotiations that must be completed to meet the government’s target date of March 31,” Nardelli added. “I can assure you that we are working tirelessly to continue our progress with the assistance of the U.S. auto task force to meet the requirements set for us by the government.”

(Source) Market Watch

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The funny thing is that this Italian car will not be available in the U.S. but it would never hurt to give car onlookers at the Geneva Auto Show a tempting glimpse of what they are missing.

The MiTo GTA Concept takes the swoopy little MiTo and cranks up the speed and style. Weight reduction was a priority with a carbon fiber rear hatch, roof, and mirrors with aluminum used throughout.

Should this little puppy ever make production we’ll have yet another car to put on the list of necessary gray market imports.

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Italy’s government has approved a $2.6bn stimulus package for its ailing car and domestic goods industries, in a bid to boost the country’s economy. The Italian car industry has been hit hard by the global economic downturn, with new vehicle registrations down by 32.6 per cent in January.

Under the government’s stimulus package, people trading in their cars will receive a payment of up to $1,930 to buy a new, more fuel efficient one.

Consumers will also receive a 20 per cent tax deduction on appliance and furniture purchases of over $12,890.

The plan is the latest attempt by Italy’s government to boost the economy amid the global financial crisis, after an economic stimulus plan announced in November was criticised for being ineffective.

(Source) Aljazeera

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