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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.

Jaguar XK bites the dust – XK production to end this summer

The last Jaguar XK – the Jaguar XK Dynamic R The Jaguar XK is the oldest car in Jaguar’s model lineup and the last real remnant of ‘old’ Jaguar. And it’s about to cease production. Jaguar has announced the XK will end production this summer as sales fall away and the XK struggles to make sense against the new Jaguar F-Type, a situation that will only worsen when the F-Type Coupe starts to arrive in customer hands.

Mercedes prices SLS AMG Black Series and C63 Edition 507

Mercedes-Benz priced two of its hottest models last week, the 2014 SLS AMG Black Series and the C63 AMG Edition 507. The gullwing will come in at stratospheric $276,800. The more earthbound C63 sedan will sticker for $70,925, and the coupe is $73,452.