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Porsche to take majority stake in VW for £7bn

By Ben Whitworth Motor Industry 07 March 2008 11:26 Porsche is about to become the majority shareholder in Volkswagen. The sportscar maker has been given the green light to purchase further stock in VW, taking its share past the 50 percent mark to give it a controlling interest. As soon as various legal checks have been cleared, Porsche plans to purchase a further 20 percent of VW stock – it already owns 31 percent - at an estimated cost of around £7 billion.

Car Design of the Year 2008

As the year draws to a close, it's time once again for us to ask you, our readers, to vote for your favorite car designs of 2008. Your votes will decide which design teams will be presented an award by the CDN team at the Geneva auto show in March, with prizes being given to the best vehicle in the concept and production car categories. We've selected our picks of the production and concept vehicles unveiled since the 2008 Detroit Auto Show, and now it's up to you to decide which ones gain the accolade of Car Design of the Year.

Volkswagen to launch budget brand, priced from £4800

Volkswagen is planning to launch a new budget brand to challenge the likes of Dacia – and the bargain basement minis will be sold in Europe too. Prices for the yet-nameless new cheap VWs will start from just €6000, or £4800, according to paperwork seen by CAR. How can VW build city cars so cheaply?