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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.

Land Rover Raises Evoque’s Game

LAND ROVER is to launch a hot version of its popular Evoque. The Autobiography Dynamic variant will be powered by an uprated version of the firm’s 2.0-litre turbo petrol motor. In 281 horsepower trim, Land Rover claims this go-faster Evoque will hit 60mph from rest in 6.7 and go on to a top speed limited to 140mph.

Cadillac XTS aimed at luxury-import owners

It is a small niche, but an important one for Cadillac as it prepares to launch the XTS sedan. The industry calls it the "black car" business. The Cadillac XTS sedan will hit dealer showrooms next year in late spring or early summer.