Hot on the heals of the Bertone auction, another Italian design house appears likely to change hands shortly, with Indian manufacturer Mahindra said to be close to acquiring Pininfarina:

The takeover of Turin-based Pininfarina, the creator of the Ferrari 458 Spider roadster, marks a move by Mahindra to add flair following its acquisitions of South Korean carmaker Ssangyong and the scooter unit of French auto manufacturer PSA Peugeot Citroen. The designer already cooperates with Mumbai- based Mahindra on SUV development and worked with it on the TUV300 compact SUV, which the company introduce later this week.

Pininfarina has been unprofitable for 10 of the past 11 years while struggling with debt. It shut a floundering division that built cars for other manufacturers three years ago. Chairman Paolo Pininfarina, a grandson of the company’s founder, said on April 22 that a new investor will provide “financial solidity and bolster growth in coming years.”

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