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.

BMW 4 Series: The new 3 Series Coupe arrives

The BMW Concept 4 Series Coupe – a two door version of the new 3 Series – has been revealed and will debut at the 2013 Detroit Auto Show. It may be a concept as far as the real extremes are concerned – the butch bumpers, big air intakes and extreme wheels – but in every other way the 4 Series Concept is the production 4 Series we’ll get later in 2014. And it looks good.

Mercedes-Benz hits 100,000 UK sales for first time

FOR THE first time in its history Mercedes-Benz UK has sold more than 100,000 cars in a year. The milestone car, an A 180 CDI Sport bought at Mercedes-Benz of Bristol, now belongs to Jamie Leigh Arndell, who works as Transport Manager at Bristol and Avon Group. “It was a lovely surprise to pick up my new car and be told I was the company’s 100,000th customer [this year],” she said at the handover of the car.