~1~classic~ 1960's 1970's Ford Mustang/mercury Cougar/gm Chevy Side View Mirror~ on 2040-parts.com

Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

Chrysler Bankrupt – Fiat the great hope

Chrysler go bankrupt - Fiat to the rescue [ad#ad-1] So the inevitable has happened. The first of the big three to go bust is Chrysler, now officially in Chapter 11 Bankruptcy. But it’s not all doom and gloom.

2014 Chevrolet Cruze Turbo Diesel to deliver 46 mpg on highway

General Motors said the 2014 Chevrolet Cruze Turbo Diesel will deliver an estimated 46 miles per gallon on the highway, besting the company's initial target by four mpg. The estimate is also good enough to top the rival 2013 Volkswagen Jetta diesel, which achieves 42 mpg on the highway. The Cruze's 2-liter turbo diesel engine produces 148 horsepower, compared with 140 hp for the Jetta diesel.