1971 72 73 Ford Mustang Mach 1 Cougar Philco Am Radio With Dash Bezel For Parts 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.

New 2014 Citroen C1 priced from £8,245 in UK

Fresh from its debut at the 2014 Geneva Motor Show, Citroen has revealed that prices for its new C1 city car will start from £8,245 when it goes on sale in July. For that price, buyers will get the entry-level C1 Touch with the 1.0-litre VTi, 68hp engine. Touch is the lead-in trim level and includes remote central locking, electric front windows, six airbags, an MP3 compatible audio system, a USB socket and LED daytime running lights.

Tesla pays off its government loans

Tesla paid off the last of its $465 million government loans May 22, nine years ahead of schedule, thus outperforming most U.S. college graduates and the vast majority of American homeowners. Tesla used funds from a stock offering to finish the loan with a whopping bank transfer of $451.8 million Wednesday, pointing out that it was “…the only American car company to have fully repaid the government.” Apparently no one at Tesla was even born when Lee Iacocca paid off Chrysler's $1.2-billion government bailout ahead of schedule back in 1983.