Autoblog

Pininfarina in the black for first time since 2004

Jonathon Ramsey — Tue, 26 Mar 2013 10:59:00 EST

Filed under: Europe, Earnings/Financials, Design/Style

Italian design house Pininfarina predicted last May that it would face an operating loss for 2012 but still come out with a net profit. Both predictions have come true - the company is reporting an operating loss of 8.2 million euros and a net profit of 32.9 million euros ($42.5 million US).

According to Reuters, the good news came because of a debt restructuring arranged last year that gives the company three more years to repay its $182.6 million in debt, and a one-time gain of roughly 45 million euros ($57.6 million US). It is the company's first profit since 2004, and is a more robust sign of forward progress than the retrospective museum exhibits held in the company's honor last year. Perhaps the company's better financial condition will help it pull the trigger on a limited production run of the Sergio barchetta concept (shown above) as rumored.

Pininfarina in the black for first time since 2004 originally appeared on Autoblog on Tue, 26 Mar 2013 10:59:00 EST. Please see our terms for use of feeds.

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Pininfarina teases Sergio concept car for Geneva

Michael Harley — Tue, 05 Feb 2013 16:31:00 EST

Filed under: Concept Cars, Geneva Motor Show, Design/Style

Pininfarina has announced that it will debut an "innovative and exclusive" concept car at the upcoming Geneva Motor Show as a tribute to Life Senator Sergio Pininfarina, Honorary Chairman of the Pininfarina Group who passed away in July of 2012. Sergio took control of the company in 1966, after the death of his father, Gian Battista 'Pinin' Farina.

The concept, aptly named "Sergio," will celebrate the maestro of Italian style, who is credited with designing vehicles for countless automakers including Alfa Romeo, Bentley, Chevrolet, Volvo, Maserati and Ferrari - the 2002 Ferrari Enzo and 1984 Ferrari Testarossa were penned under his guidance, among others.

Continue reading Pininfarina teases Sergio concept car for Geneva

Pininfarina teases Sergio concept car for Geneva originally appeared on Autoblog on Tue, 05 Feb 2013 16:31:00 EST. Please see our terms for use of feeds.

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Legendary designer Sergio Pininfarina passes away

Chris Paukert — Tue, 03 Jul 2012 10:29:00 EST

Filed under: Classics, Ferrari, Celebrities, Design/Style

The world of automotive design has lost another great. Sergio Pininfarina - the honorary chairman of the Pininfarina Group that bears his family name - passed away last night at age 85.

Sergio took control of Pininfarina as chairman back in 1966 after his father, Gian Battista 'Pinin' Farina, passed away. He would hold this role until transitioning to honorary chairman in 2006.

Over his tenure, his Pininfarina firm worked on design projects for everyone from Alfa Romeo to Chevrolet to Bentley and Volvo, but he is perhaps most known for his work for Ferrari and Maserati. No stranger to edgy aesthetics, Pininfarina presided over designs like the 2002 Ferrari Enzo and the 1984 Ferrari Testarossa before it. Conversely, he was also responsible for some beautifully simple forms, including the lauded 1996 Peugeot 406 Coupe and 2003 Maserati Quattroporte.

Sergio Pininfarina is survived by his wife and two children. You can learn more about him by scrolling down to read the company's official statement.

Continue reading Legendary designer Sergio Pininfarina passes away

Legendary designer Sergio Pininfarina passes away originally appeared on Autoblog on Tue, 03 Jul 2012 10:29:00 EST. Please see our terms for use of feeds.

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Pininfarina turns first net profit since 2004

Zach Bowman — Wed, 16 May 2012 18:31:00 EST

Filed under: Etc., Europe, Earnings/Financials, Design/Style

Automotive News reports Pininfarina projects it will turn a profit for 2012, thanks in part to debt restructuring. The Italian design studio hasn't seen a profit in eight years, but signed a deal in April to restructure $182.6 million in debt. The move effectively stretched the studio's repayment deadline from 2015 to 2018. At the same time, Pininfarina announced it will likely see an operating loss this year, but a one-time gain of $57.6 million will result in the net profit. Last year, the company lost $8.3 million in the first quarter, though that figure has dropped to just under $4 million during Q1 2012.

Pininfarina also saw its net revenue increase by $2.9 million. The company designs vehicles for manufacturers the world over, including makes like Ferrari, Maserati, Rolls-Royce and Cadillac, though CEO Silvio Pietro Angori recently announced China is set to become the studio's largest market this year. That title was previously held by Germany.

Pininfarina turns first net profit since 2004 originally appeared on Autoblog on Wed, 16 May 2012 18:31:00 EST. Please see our terms for use of feeds.

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Autoblog goes one-on-one with the Pininfarina Cambiano Concept [w/video]

Matt Davis — Fri, 02 Mar 2012 11:57:00 EST

Filed under: Concept Cars, Coupe, Sedan, Performance, Geneva Motor Show, Europe, Mini, Design/Style, Electric, Diesel, Luxury

Italian Turbine-Powered Calling Card For A New Era...And A New Maserati Quattroporte?

The global meltdown that boiled to the surface in 2008 was really hard on a lot of car companies, but it was categorically horrendous for the tradition of Italian car craftsmanship out of Turin.

Of the three big players left in the traditional Italian design mecca - Italdesign Giugiaro, Bertone and Pininfarina - only Giugiaro has managed to avoid administrative takeover of its debts and assets by working out a major deal with longtime allies Volkswagen to sell them 90.1 percent of the firm. Both Bertone and Pininfarina are currently trusted to oversee their own operations but are nonetheless bonded to pay off significant operational debts to Italian banks after having hammered out merciful sweetheart low-interest deals. Neither has succeeded in closing mutually agreeable VW-style takeover bids, but both would probably prefer not doing so anyway.

The Geneva Motor Show has been treated as Italy's (and my) hometown gig ever since the once wonderful Turin auto show fizzled away in 2002. One of the great spectacles of the Swiss salon is seeing the three major houses unveil their trinkets to the press, their stands traditionally placed side-by-side for maximum effect. This year, Italdesign Giugiaro will naturally show off some Volkswagen conceptual thinking, while Bertone has once again chosen a whimsical dream showcar approach with its 1970 Stratos-inspired Nuccio concept meant to commemorate Corrozzeria Bertone's centenary.

But the Pininfarina stand will most likely steal the attention of showgoers. How can you lose with a spanking new and hot Ferrari F12 Berlinetta and a concept that seems to hint at a future replacement for the Maserati Quattroporte?

Continue reading Autoblog goes one-on-one with the Pininfarina Cambiano Concept [w/video]

Autoblog goes one-on-one with the Pininfarina Cambiano Concept [w/video] originally appeared on Autoblog on Fri, 02 Mar 2012 11:57:00 EST. Please see our terms for use of feeds.

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Full Pininfarina Cambiano concept renderings leaked ahead of Geneva *UPDATE

Jonathon Ramsey — Mon, 27 Feb 2012 16:01:00 EST

Filed under: Concept Cars, Hybrid, Sedan, Specialty, Design/Style, MISC

Italian magazine Quattroruote has somehow procured a set of renders showing every angle of the plug-in Pininfarina Cambiano concept. The show car will arrive at the Geneva Motor Show and is heavyweight celebration of several Pininfarina milestones: the 10th anniversary of the company's Engineering Centre, the 30th birthday of its Styling Centre and it's named for the town of Cambiano where Pininfarina is located. What's more, it was inspired by the design house's Lancia Florida II from 1957, an example of which was reportedly owned and slept in by the company founder.

Are you ready for the word "coupe" to carry more baggage? The designers call the Cambiano a coupe, but it's got three doors: one on the left, two on the right. Other details are as novel: it's roughly 16 feet long, weighs 3,740 pounds and is gets its power from a diesel-fueled microturbine providing juice to four electric motors of 80 horsepower each. The stats are estimated to include a 4.2-second run from zero to 60 mph and an all-electric range of "better than 200 kilometers." That's 125 miles, which implies a big battery pack. When fully charged and filled with diesel, the car can go for a bladder-busting 800 km (497 miles).

There's a lot going on with the design so have a look at the photos in the gallery and judge for yourselves, but we find ourselves mesmerized by a Dodge Daytona Charger backlight that flows into an Intrepid rear end. Pininfarina designers spoke like there was more to this car than just a concept exercise, though, so we'll look forward to seeing it in Geneva.

*UPDATE: More information on the plug-in nature of this concept was added after publication.

Full Pininfarina Cambiano concept renderings leaked ahead of Geneva *UPDATE originally appeared on Autoblog on Mon, 27 Feb 2012 16:01:00 EST. Please see our terms for use of feeds.

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Pininfarina family poised to lose control of 82-year-old company

Jeremy Korzeniewski — Wed, 15 Feb 2012 08:00:00 EST

Filed under: Europe, Earnings/Financials, Design/Style

Pininfarina is on track in the quest to restructure its debt, according to a report from Reuters. The famed Italian styling house shuttered its manufacturing business in 2011, ending a joint venture with Volvo that had seen Pininfarina assemble the C70, in order to focus on its automotive design business.

While good news for the long-term financial health of the company, the deal will hand the Pininfarina family's 77-percent controlling share over to creditor banks that include Intesa Sanpaolo, UniCredit, Mediobanca and Banca Monte dei Paschi di Siena.

Previous plans called for a sale of the company, but Reuters reports that no serious offers were ever made - apparently, because any potential suitors can contract with Pininfarina whenever necessary, outright ownership of the company was deemed unnecessary.

In any case, it sounds as if Pininfarina's design consultancy will continue to pump out beautiful Italian shapes for the foreseeable future, the only change being that it won't be controlled by the descendants of Battista "Pinin" Farina as it has since its founding in 1930.

Pininfarina family poised to lose control of 82-year-old company originally appeared on Autoblog on Wed, 15 Feb 2012 08:00:00 EST. Please see our terms for use of feeds.

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Pininfarina to cease contract manufacturing, transfer ownership to banks

Noah Joseph — Fri, 02 Jan 2009 07:58:00 EST

Filed under: Trends, Europe, Plants/Manufacturing, Earnings/Financials

Click above to view the Pininfarina Sintesi in our high-resolution image gallery

It's been a rough few years for Italy's coachbuilders, and times aren't getting any easier. Bertone almost went under before a rescue plan was approved by the courts at the eleventh hour, and now Pininfarina is poised to follow them down the same path. Drowning in nearly €600 million in debt, Pininfarina is set to shut down its contract manufacturing operations and concentrate on its own electric vehicle initiative while the family loses control of its company to the banks.

Although contract manufacturing once constituted the lion's share of business for outfits like Pininfarina, those times are long gone. Pininfarina still makes the Focus Coupe-Cabriolet for Ford and the Brera and Spider for Alfa Romeo, but at levels hovering around a quarter of anticipated output. Instead, the design house will refocus on its joint production of the Bzero electric vehicle with Bollore, targeted to hit the market in 2010-11. Meanwhile, the grandchildren of Battista "Pinin" Farina - recently lead by Andrea Pininfarina (until his death in a tragic accident in August) and now led by his brother Paolo - will transfer 50.4 percent ownership to its creditors in exchange for a €180 million reduction of its debt, to be followed by a further reduction of €70 million in exchange for rights to the name. The family, meanwhile, will retain only 4.5 percent stake in the namesake company, with the remaining shares publicly traded (including some held by Enzo's son Piero Ferrari and some by Tata). The banks, however, will seek no management changes or board seats in exchange for the controlling interest.

Gallery: Pininfarina B0

[Source: Automotive News Europe - Sub. Req.]

Pininfarina to cease contract manufacturing, transfer ownership to banks originally appeared on Autoblog on Fri, 02 Jan 2009 07:58:00 EST. Please see our terms for use of feeds.

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Geneva '08 Preview: Pininfarina releases sketch of Sintesi Concept

Noah Joseph — Tue, 29 Jan 2008 13:28:00 EST

Filed under: Concept Cars, Geneva Motor Show, Europe

As we promised last month, Pininfarina has hit us with a teaser sketch of the upcoming Sintesi concept car. The show car, which will be unveiled at the Geneva Motor Show this coming March, is the first concept the famous Italian design house will have shown in three years.

Sintesi is Italian for "summary", and the concept ties together themes from its last two design studies: the Maserati Birdcage 75th that stopped the Geneva show in 2005, and the Nido city-car from Paris '04. The design for the new Sintesi was directed by Lowie Vermeersch, head of the company's design department. We'll look forward to bringing you more as Pininfarina doles it out, but you can check out their nifty cyber-mag in the meantime by following the link below.

[Source: Pininfarina via AutoWeek]

Gallery: 2005 Pininfarina Maserati Birdcage Concept

Gallery: 2004 Pininfarina Nido Concept

Geneva '08 Preview: Pininfarina releases sketch of Sintesi Concept originally appeared on Autoblog on Tue, 29 Jan 2008 13:28:00 EST. Please see our terms for use of feeds.

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Pininfarina reaches cell phone deal with Motorola

Erin Mays — Tue, 28 Feb 2006 14:00:00 EST

Filed under: Gadgets

Pininfarina has signed a deal with Motorla to design cellular phones for the company over the next three years. The design house, famous for penning Ferraris and Maseratis, will put ten designers on the job of making mobiles as sleek and sexy as their automotive counterparts. The design house had been dealing with the phonemaker via a short-term agreement under which it tendered two designs per month. Interestingly, cell phones design now makes up 30-percent of Pininfarina's non-automotive business, a medium in which the company only began working in two years ago.

[Source: Reuters UK]

Pininfarina reaches cell phone deal with Motorola originally appeared on Autoblog on Tue, 28 Feb 2006 14:00:00 EST. Please see our terms for use of feeds.

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