We are pleased that Chrysler, Fiat and Cerberus have reached agreement," say Chrysler CEO Bob Nardelli, "Chrysler has consistently said that the alliance with Fiat enhances its business model that expands its global competitiveness"

The US Treasury Department's auto task force confirmed today that striking a deal with Fiat represents Chrysler's last chance of survival although it believes that there is a huge amount of work to be done to turn this option a practical proposition

Photo Gallery: Stile Bertone - Inside Project M (I)

Off the record comments say that Chrysler will be given 30 days to strike a deal with Fiat otherwise no more aid will be forthcoming, although the Auto Task Force has dismissed the US carmaker's current viability plans as unrealistic

Video: Stile Bertone - Inside Project M #4

The Alfa Romeo Owners’ Clubs of Singapore and Malaysia kick started their annual calendar of activities with a holiday drive to the sun soaked Thai island of Phuket situated in the beautiful blue waters of the Andaman Sea

Photo Gallery: AROC Singapore & Malaysia - Tour de Phuket

With 27 drivers on the starting grid the two-race inaugural round of the Trofeo Abarth 500 in Monza on Sunday was marked by a great show and plenty of fierce competition and with Manuel Villa and Nicola Baldan taking a win each

Photo Gallery: Trofeo Abarth 500, Rd1 - Monza

No points for Ferrari at the end of the Australian Grand Prix with Kimi Raikkonen classified sixteenth, after retiring on lap 55 with a differential problem, while Felipe Massa stopped in the pits on lap 45, with a broken left front nose support

At Fiat Group's Annual General Meeting on Friday CEO Sergio Marchionne told assembled shareholders that the face of the industry will change significantly in coming years due to the current recession which has hit demand for new cars

The honour of claiming the first ever pole position in the Trofeo Abarth 500 has fallen to Venetian driver Nicola Baldan who went comfortably fastest in the wet conditions that faced the 27 drivers that turned out at Monza yesterday

Both the new Ferrari-powered Toro Rosso STR4 cars were classified in the points in Melbourne today with Swiss youngster Sebastien Buemi collecting seventh place on his GP debut just ahead of team mate Sebastien Bourdais

Video: Pagani Zonda R [official commercial trailer]

During a meeting of Fiat shareholders yesterday Group CEO Sergio Marchionne continued to emphasise the value of the proposed alliance with Chrysler LLC, saying that it could potentially bring 'great benefits' to the Italian carmaker

The Ferrari's of Felipe Massa and Kimi Raikkonen have been promoted to sixth and seventh on the grid for tomorrow's Australian Grand Prix after the two Toyotas were sent to the back of the grid following a rear wing infringement

Toro Rosso's rookie driver Sebastien Buemi did a very solid job in Melbourne today for Italy's 'other' grand prix team during his first ever F1 qualifying session posting the 16th fastest time in the Ferrari V8-powered single seater

With the established order continuing to be shaken up through the qualifying session Felipe Massa will start tomorrow's Australian Grand Prix in seventh place, with Ferrari team-mate Kimi Raikkonen two places further back in ninth spot

For its debut race this weekend at the Monza track in Italy the inaugural Trofeo Abarth 500 has attracted 27 drivers to the cockpit of its specially prepared 190 bhp racers including young factory Abarth rally star Umberto Scandola

Iveco has delivered a Eurocargo Diesel-electric parallel hybrid delivery truck to Coca-Cola Enterprises during the European Business Summit in Brussels, the first such vehicle to become operational in an urban environment in Europe

Ferrari has chosen Sunday March 29th to go live with its new www.ferrari.com website which will offer a completely new look and array of unprecedented content in celebration of the first race of the F1 World Championship season

The new F1 season got underway in Australia today with two free practice sessions in Melbourne and Felipe Massa was seventh fastest in the morning and tenth in the afternoon, while Kimi Raikkonen's positions were third and eleventh

The Ferrari Scuderia Spider 16M has been launched at Zagame Ferrari in Melbourne in the presence of two very special guests: Kimi Raikkonen and Felipe Massa; the pair also signing a Fiat 500 that will be auctioned this weekend for charity

Photo Gallery: Ferrari Scuderia Spider 16M - Zagame Ferrari [Australian première]

Perodua UK Limited the importer of Piaggio Commercial Vehicles has announced that they are now adding the popular Ape range of 3-wheel vehicles to their existing line up of light commercial vehicles in order to appeal to a wider market