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Porsche to take majority stake in VW for £7bn

By Ben Whitworth Motor Industry 07 March 2008 11:26 Porsche is about to become the majority shareholder in Volkswagen. The sportscar maker has been given the green light to purchase further stock in VW, taking its share past the 50 percent mark to give it a controlling interest. As soon as various legal checks have been cleared, Porsche plans to purchase a further 20 percent of VW stock – it already owns 31 percent - at an estimated cost of around £7 billion.

New Peugeot 308 (2014) revealed ahead of debut at 2013 Frankfurt Motor Show

The new Peugeot 308 - revealed this morning ahead of a debut at Frankfurt in September and an on sale date in the UK of January 2014 – moves the 308 further towards the sector leaders with a new car – built on PSA’s new EMP2 platform – that’s a bit shorter and a bit lower than the old 308, and looks a lot slicker. The nose of the new 308 is lower than before and it sports Peugeot’s new, more refined, grill with slime LED headlights and manages to look like a convincing big brother to the new 208, with elements borrowed from the Onyx Concept too with the back end sporting LEDs that create three ‘Lion Claws’ in their graphic (like the Jaguar XJ). Inside, Peugeot have created what they call an ‘i-cockpit’ layout with a big centre console featuring a 9.7″ touchscreen that takes the place of most of the buttons you used to get, allowing Peugeot to create a dash with a sleek and uncluttered feel and heads-up instruments.

MAZDA5 RESIDUAL PERFORMANCE IS 'BEST KEPT SECRET'

A NEW diesel version of the Mazda5 MPV has stormed onto the market with the best residuals in its class. Used car valuation expert CAP has described the 1.6-litre diesel model as a "best kept secret" and has predicted that the Sport model will retain 32 per cent of its value after three-years and 60,000-miles. The TS2 model also performs extremely well, with a 31 per cent retained value predicted.