Andrea Pininfarina, chief executive officer of Pininfarina SpA, a famed designer firm of sports cars, including Ferrari and Fiat, died in an accident today.

He was 51.

Andrea is survived by his wife Cristina Pellion di Persano and three children.

Though details weren't immediately available it is given to understand that Andrea may have died instantly after his Vespa scooter collided with a Ford Fiesta in Trofarello near the northern Italian city of Turin.

''I'm deeply saddened,'' said Italian prime minister, Silvio Berlusconi, through a statement. According to Berlusconi, Italy ''loses a leading personality of the country's industrial life and the representative of a dynasty that did so much for the made-in Italy brand around the world.''

Pininfarina was appointed CEO of the Turin-based company in 2001.

Pininfarina was one of the two sons of Sergio Pininfarina, who is also honorary chairman of the company. Andrea's younger brother Paolo is the company's vice chairman and his sister Lorenza a member of the board.

The automobile design company was founded in 1930 by Andrea's grandfather Battista Pinin Farina. Over the last 50 years it has developed cars for Fiat-owned Ferrari. Currently it is working on five vehicles, including Ford Motor Co.'s Focus Coupe Cabriolet and Fiat's Alfa Brera.

The company, which is 55 per cent owned by the Pininfarina family, had announced an electric-car joint venture with France's Groupe Bollore last December. It posted losses over the last four years, and currently, Andrea was leading the company's restructuring efforts.

As part of a turnaround strategy, Andrea was planning to issue 100 million euros ($155 million) of new shares to existing investors, French billionaire Vincent Bollore and India's Tata Motors Ltd. Pininfarina stock had lost 72 per cent value over the past 12 months.

Andrea was also a board member at Finmeccanica SpA's Alenia Aeoronautica SpA unit and furniture-maker Poltrona Frau SpA.