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Porsche finally becomes a VW company

Volkswagen has announced it is to finalise its takeover of Porsche by buying the remaining 50.1 per cent of Porsche stock for €4.46 billion. The takeover of Porsche by VW has been a long and rocky road, but then family fallouts are always messy. It all started with Porsche attempting to consume VW, but some clever manoeuvring by Ferdinand Piech thwarted the efforts of his cousin, Wolfgang Porsche, to swallow up his business and the financial crisis saw Porsche rack up €10 billion in debt in the process.

News watch October 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Friday 29 October 2010• Spyker has announced third-quarter losses have increased since its takeover of Saab. Spyker lost £35 million in 2010, compared to £3.6 million last year (BBC News)• GM will repay $2.1 billion of the Obama government's preferred stocks.

Londoners 'most likely to fail' driving test

LEARNERS gearing up to take their first driving test are twice as likely to pass in Scotland as those in London, according to analysis of driving test results by a car insurance company. Its analysis reveals that London has the test centres with the four lowest pass rates in the country for first time test-takers. Only 31% of learner drivers in Belvedere passing the first time, while Wanstead (32%), Barking (32%) and Wood Green (33%) were the other lowest scoring centres in the capital, all with first time pass rates significantly below the national average (48%), the study by Privilege Car Insurance found.