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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.

VW Up! Lite Concept revealed in LA

The Volkswagen Up! Lite has been revealed at the LA Motor Show Volkswagen had promised a surprise at the LA Motor Show, and this is it, the VW Up! Lite Concept, another car in the quest by VW to produce the most efficient cars on the market.

Fiat future products: Look for more 500s

Next year two Fiat 500 models are scheduled to join the 500 and 500C convertible, which already are on sale as 2012 models. Cars arriving next year will be a sporty Abarth version and an electric. A fifth car will join the lineup in 2013: a four-door, five-seat, high-roof subcompact.