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Luca Cordero di Montezemolo, who joined Ferrari in the 1970s, had refused to quit the company three days ago.
US automaker forecasts $2bn loss in European market as prolonged recession hits sales.
Italian firm bids for GM Europe merger, with aims to create second biggest car maker.
Italian car firm outlines plans to create world's second-biggest car manufacturer.
Fiat offers its latest technology in return for 20 per cent of the US company.
Automaker lays off 48,000 in Italy for a month as demand for cars falls.
Featured on Al Jazeera
Swathes of the British electorate continue to show discontent with all things European, including immigration.
Astronomers have captured images of primordial galaxies that helped light up the cosmos after the Big Bang.
Critics assail British photographer's portrayal of indigenous people, but he says he's highlighting their plight.
As Western stars re-release 1980s charity hit, many Africans say it's a demeaning relic that can do more harm than good.
 
 
 
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