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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.

Porsche plans four-door Panamera convertible

A series of European and U.S. patent applications obtained by AutoWeek show that Porsche remains committed to building a four-door convertible version of its flagship Panamera, despite recent comments from Zuffenhausen insiders indicating the car had been canceled. The new car, depicted in official drawings that accompany the latest Porsche patent applications filed in February, eschews the two-door route taken by all of its upmarket rivals for a four-door body.

SEMA 2008 show report: Mercedes GLK

By Ben Whitworth First Official Pictures 04 November 2008 10:30 Mercedes set an all but impossible challenge for tuners at this year’s SEMA (Specialty Equipment Market Association) show in Las Vegas – to turn its gut-wrenchingly ugly GLK off-roader, which makes its formal American debut at the show, into something desirable and cool. The best four submissions – the Brabus Widestar, Urban Whip, Pikes Peak Rally Racer and Rock Crawler - were displayed at SEMA. And presumably scared a lot of showgoers senseless.