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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.

Citroen DS 5LS (2014) first official pictures

By Damion Smy First Official Pictures 19 December 2013 17:30 The Citroen DS 5LS has been shown in Paris to a group of Chinese media, as the brand pushes its ‘Frenchness’ with a C-segment saloon for the world’s biggest market. The 5LS is the result of Citroen’s splitting of its model line-up into two channels: it’s ‘C’ badged cars for more everyday, price-driven offerings and its more premium, design-centric DS models, which have formed a ‘fully fledged brand’ in China. The 5LS is worth a look for UK enthusiasts as ‘a major driver of the DS’s ongoing international development’.

Mercedes-Benz sells 1000,000 cars in a year in the UK for the first time

Mercedes Bristol hands over the 100,000th Mercedes old in the UK in 2013 It looks like Mercedes move in to a more convincing compact car with the new A-Class is already paying dividends, with Mercedes announcing it has already broken the 100,000 car sales in the UK for this year with a full month still to go. The 100,000th car is, appropriately, a white Mercedes  A 180 CDI Sport – perhaps the best-selling A-Class – which has been collected by its new owner from Mercedes-Benz of Bristol. This is the first full year the new A-Class has been on sale (although the first customer cars didn’t start arriving until well in to the new year) and augers well for sales numbers in 2014.