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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.

Honda plans plant for CVT builds

Honda Motor Co. plans to build a $470 million factory in Celaya, Mexico, to assemble continuously variable transmissions. The factory will operate alongside a plant under construction that's scheduled to build the next-generation Fit hatchback and a Fit-based crossover.

Audi delivers R8 V10 to originator of #wantanR8 hashtag

Audi R8 V10 - a gift for the day for a dose of Twitter love The Marketing world is changing fast, with online reporting and social media fast relegating traditional print media to the dustbin of history. And if you want a lesson on how to make social media work in the car world, you could do a lot worse than look at Audi’s recent efforts. Audi started using hashtags (that’s a little phrase preceded by the hashtag and used on Twitter) in its adverts for the Superbowl last year, which is a good way to get topics trending on the Twitter social media hub.