Ferrari CEO Made €8.7 Million in 2010 or Twice as Much as Fiat Group CEO Sergio Marchionne

It's no secret that top car executives make big money, but the situation at the Fiat Group is particularly interesting. How else could one describe the fact that in 2010, Ferrari's chairman, Luca Cordero di Montezemolo, was paid more than twice the amount of money than the CEO of the entire Fiat Group, Sergio Marchionne?

The Ferrari boss pocketed €8.7 million in 2010 (US$12 million), while Marchionne received a paycheck of €3.5 million ($4.8 million). For his role at Ferrari, di Montezemolo received €7.549 million, with the rest of the amount being awarded for his contribution as Fiat CEO between 2004 and 2010. Marchionne's compensation was €3.05 million as head of Fiat and €423,300 for his role at Fiat's Swiss branch.

Let's face it, running a business like Ferrari can't be twice as difficult as running the entire Fiat Group. But it sure pays a whole lot better. The third best paid executive in the group last year was Angelli heir and Fiat Group chairman, John Elkann, who earned €589,000, while all other board members made between €65,000 and €95,000 each.

By Dan Mihalascu

Source: AutonewsEurope

De Tomaso Shows More of its New SLS Crossover, Confirms Production for 2011

One of the surprises at this year's edition of the Geneva Motor Show is the resurrection of the De Tomaso brand, which will re-launch with a production ready concept model, set to go on sale in late 2011. The Italian company filed for bankruptcy in 2004, but was brought back to life after Rossignolo former Fiat executive, Gianmario Rossignolo, acquired the brand from a Modena bankruptcy court in November 2009.

The Italian brand's first vehicle was initially codenamed SLC for Sport Luxury Crossover, but in the latest press release, De Tomaso is calling it the SLS, which stands for Sport Luxury Sedan. We know what you're thinking in regards to Mercedes-Benz's Gullwing-door supercar, but De Tomaso was quick to state the vehicle will not be sold as the SLS, with the final production name to be revealed during the Geneve press conference on March 1.

The four-wheel-drive SLS is a BMW 5-Series GT-like high-riding saloon / crossover that will be offered at launch with a choice of two gasoline engines, a 300HP V6 and a 550HP V8, with a diesel said to be in the works.

De Tomaso said the Pininfarina-designed SLS is built on an aluminum chassis using "an innovative construction technology called Univis", details of which are to be released in Geneva.

The crossover model's architecture will form the base for two more models, including a sports sedan and a coupe, with De Tomaso planning to invest €116 million (US$160 million) in the project.

The Italian firm's new owner said the company plans to build 3,000 units of the SLS annually, along with another 3,000 limousines and 2,000 coupes.

The SLS will be produced at the De Tomaso Automobili S.p.A. plant, a former Pininfarina S.p.A. factory near Turin and in the Livorno factory by ex-Delphi workers.

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Opel to Launch New Astra-Based Convertible Model in 2013

Opel today revealed its plans to introduce a new convertible in 2013. The new model is part of the company's EUR11 billion investment plan which was announced last year and also includes the new Zafira and the Ampera EV. The droptop will be based on General Motor's compact vehicle architecture, which forms the basis for the current Astra hatchback, Astra SportsTourer and the upcoming Astra GTC, as well as Chevrolet's Cruze and Orlando.

Although Opel doesn't specify the name of the model, it will most likely be the next-generation Astra Convertible, currently produced as a coupe-cabriolet under the name of Astra TwinTop. The vehicle will enter production in 2013 at Opel's Gliwice plant in Poland, where other Astra models are also built.

“The new Convertible will be a great addition to our product lineup. It follows the long-standing tradition of highly emotional and legendary Opel/Vauxhall Cabrios that provided important halo effects on our brand. With its sleek and elegant design, our new Convertible will fully deliver on that same promise,” said Opel/Vauxhall CEO Nick Reilly.

It is not clear if the Astra Convertible will retain the retractable hardtop or switch to a soft top to rival the new VW Golf Cabriolet. This, along with other details, will be revealed closer to the launch date.

By Dan Mihalascu

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Toyota Patents Designs of Sport Version of New Yaris in Europe

Toyota introduced a new generation of the Yaris supermini in Japan (named Vitz for the local market) in December, 2010, and is also planning to showcase a thinly disguised concept of an upcoming hybrid version of the supermini at the Geneva Motor Show, which will be held for the public from March 3 to 13. But as these trademark fillings from Europe prove, the company is also working on a sport variant, most likely as a replacement to the Yaris TS.

The model seen in these patent designs features a full body kit with a new front bumper that replaces the standard Yaris' front grille with openings next to the headlamps while also boasting daytime LED strips, side skirts and profile graphics, a redesigned rear bumper housing a prominent diffuser, and bespoke tail lamps. The new roof spoiler and the multispoke alloy wheels sum up the differences over the regular Yaris.

It only makes sense that if this is the new Yaris TS, it will get a more powerful engine, hopefully something with a bit more oomph than the current model's lackluster 133HP 1.8-liter gasoline engine. Toyota will also upgrade the car's suspension and brake systems to improve handling.

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Ferrari Enzo

EDS Creates a 360HP Monster out of the Opel Astra Turbo

With the OPC version of the new Astra still in the works, German tuners are doing their best to offer Opel buyers several alternatives to quench their thirst for power. EDS, a relatively unknown tuner from Marl, Germany, has launched an impressive package for the most powerful version of the Astra with the 180HP 1.6-liter turbocharged engine.

The comprehensive engine tune includes a variety of modifications such as a new Garret GT28 turbocharger, ECU optimization, sports exhaust system, a new manifold, and other goodies that double the 1.6-liter unit's output to a whopping 360-horses and 480 Nm or 354 lb-ft of peak torque.

The tuning house also adds a Quaife differential lock, a new sports clutch kit, high performance perforated brake discs with 8 calipers and a sports suspension together with 20-inch wheels that are shod in Pirelli P Zero 235/35ZR20 tires up front and 275/30ZR20 at the back.

The exterior modifications are kept to a minimum and include new upper and lower grilles finished in black, side sills and a rear apron that houses a diffuser and the quad tail pipes.

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Infiniti Dealer in Germany Presents Tuning Package for M30d

Given that Infiniti is making its first steps in Europe, very few tuners in the market have touched the Japanese brand's products. Having said that, it shouldn't come as a surprise that an Infiniti dealer has stepped in to fill the void. In particular, Infiniti Centre Hamburg in Germany has released two tuning packages for the recently launched diesel-powered M30d.

The "Stage 1 Package" for the M30d includes painted door handles (€600), red brake calipers with Infiniti lettering (€1,200 €), a lowered sports suspension (€1,495), a black radiator grille (€550) and a black-foil-covered roof (€400). The package is completed by an performance kit (€1,250) for the 3.0-liter V6 turbo diesel boosting output from 238HP to 280HP.

The "Stage 2 Package" rounds off the tune with a set of 22-inch alloy wheels from Schmidt wrapped around 265/30 R22 Pirelli tires up front and 295/25 R22 tires at the back for a total cost of €6,800.

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