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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.

Volvo debuts S60L for the Chinese market

If you've tried the Volvo S60, did you get the feeling that it might benefit from a little more legroom in the back? The first-generation S60 and the second-generation S60 are fine automobiles, but if there's one gripe we've heard from owners about their cars, it's that rear-seat legroom could be a tad more generous (on that one day of the year when they have more than two people in the car). For the 2014 model year, Volvo is introducing a long-wheelbase version of the sedan, dubbed the S60L, but it will be available only in the Chinese market where long-wheelbase sedans are "a thing." The S60L will have a wheelbase that is 3.1 inches longer than the standard model, for a total of 112.4 inches, all benefiting rear-seat passengers.

Cadillac CTS gets limited-edition colors ahead of redesign

Cadillac added a pair of limited-edition CTS vehicles to its lineup on Friday. Silver Frost and Stealth blue will join the car’s color palette. Only 100 Silver Frost Cadillac CTS-V coupe will be produced with the low-gloss matte finish while the new blue will appear on all body styles.