These are tough times for design studios, with some of the biggest names in the business facing potential closure.

Pininfarina's fourth boss since its creation in 1930 by Battista 'Pinin' Farina has been announced - it's Paolo Pininfarina, the brother of former boss Andrea, who died recently.

These are tough times for design studios, with some of the biggest names in the business facing potential closure. The appointment of Paolo should help maintain stability during these uncertain times. Pininfarina's first new concept since the tragedy, the Rolls-Royce Hyperion is being unveiled at Pebble Beach.