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French government vows Renault reform after meeting with Ghosn

The French government will see to it that the individuals responsible for the now debunked Renault SA espionage affair are dealt with, the Finance and Industry ministers said in a statement. "The ministers underscored that they will pay close attention to organizational reform and individual responsibility (at Renault) based on the result of the audit," Finance minister Christine Lagarde and Industry Minister Eric Besson said in a joint statement after meeting with Renault CEO Carlos Ghosn on Thursday. The French state, which owns 15 percent of Renault, has called for a thorough investigation into discredited claims that three Renault executives were spying on the carmaker, possibly for a foreign government.

Porsche mulls smaller SUV, sports car

Porsche may develop a small SUV and a sports car smaller than the Boxster as it aims to double worldwide sales in the next three years. Bernhard Maier, head of sales and marketing at Porsche AG, confirmed that the company is looking into smaller and less expensive models “but we have taken no decision so far.” The small SUV has been code-named “Cajun”--short for Cayenne Jr. The success of the Cayenne SUV has given Porsche confidence to “investigate if there are other opportunities,” Maier said.

Ferrari apologises for 458 burning rubber on Great Wall of China (video)

Ferrari 458 'damaging' the Great Wall of China Ferrari hired a section of the Great Wall of China for a publicity event, but an employee damaged the Great Wall by burning rubber in a 458 Italia. China is a very big deal for Ferrari, as evidenced not only by rising sales but by the special editions Ferrari sells in to the burgeoning luxury car market in China, like the 458 Italia China Special Edition. Sot it’s no surprise that Ferrari wanted to hire out a section of the Great Wall from local authorities in China for a bit of an ‘event’.