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Volkswagen to buy 42 percent of Porsche, full merger planned
Thu, 13 Aug 2009Volkswagen will buy 42 percent of Porsche's sports-car business en route to a full merger by the end of 2011, the companies announced Thursday. VW will pay $4.7 billion for its initial stake in Porsche. It positions the new company to have 10 brands and global sales of 6.4 million, and Volkswagen CEO Martin Winterkorn is likely to lead the entity.
Flashback: Pontiac killed on April 27, 2009
Wed, 27 Apr 2011It was precisely two years ago today--April 27, 2009--that Pontiac met its demise. In hindsight, the decision made a lot of sense for General Motors, which six weeks later would file for bankruptcy. But at the time, many enthusiasts were more than a bit upset that 80 years of Pontiac--once the third-best-selling brand in the United States--was set for the scrap yard.
Vauxhall's 2012 Astra cab to be standalone convertible
Fri, 07 Oct 2011Vauxhall's new convertible will not be the Astra cabriolet, CAR has learned. Instead the new Astra-based convertible will be positioned as a separate, standalone model like Volkswagen's Eos. The new mid-sized Vauxhall/Opel convertible will be launched in 2012.