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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.

Two of Detroit Three bail on Tokyo show, Ford wavering

Two of Detroit's three automakers are confirmed no-shows for this year's Tokyo Motor Show, with the third uncommitted as the deadline nears. General Motors Co. and Chrysler Group LLC will sit out the December event, skipping the show for a second straight time.

One pothole for every mile of road in Britain

There is now one pothole for every mile of road in Great Britain, according to official data sourced by car breakdown and recovery company Britannia Rescue following a Freedom of Information Act request. And just like everything else in the UK, it would seem we can blame the weather, with experts suggesting that the combination of a harsh winter and a dry summer has exacerbated the problem. On Bing: see pictures of potholes Find out how much a used car is worth on Auto Trader The result is a 79% increase in compensation claims, with UK councils receiving 32,000 reimbursement requests in the past financial year.