65 Chevy Chevelle, Elcamino Headlight Bezels. Needs Paint 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.

Celebrating Mitsubishi...mostly the Evo

Is Mitsubishi going to come back better than ever or has it overevved its corporate four-banger and sent a rod through its corporate head? Depends how you look at it. If you made your judgment solely by spending last Saturday at the Mitsubishi Owner's Day at company headquarters in Southern California, you'd think this carmaker was the greatest thing since overhead valves and forced induction.

Concours d'Elegance of America selects classes for 2012 event

The Concours d'Elegance of America has announced classes for its 2012 event in Plymouth, Mich., where more than 300 cars are expected to be on display. July is several months away, but here are some highlights you can look forward to through the impending winter: -- American classics from 1928 to 1934: While the Great Depression crippled automotive sales, it also motivated designers to work even harder to attract buyers' attention. Some beautifully crafted custom coaches sprung from this period.