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VW to announce Italdesign takeover on Tuesday

Volkswagen will announce Tuesday that it will take a 90 percent stake in Italdesign Giugiaro S.p.A, people familiar with the matter told Automotive News Europe. The Giugiaro family will retain 10 percent in the Italian design house that is famous for styling cars such as the first-generation VW Golf. VW plans to acquire control of Italdesign to help reach its goal of becoming the world's largest automaker by 2018 with sales of 10 million vehicles a year.

Silverstone: the defining moments from 50 British grand prixs

By Tom Clarkson Motoring Issues 03 July 2014 11:00 1948 Silverstone’s transformation from a World War II bomber station into a race circuit began in August 1948, when the Royal Automobile Club took out a one-year lease on RAF Silverstone. Under the stewardship of local farmer James Wilson Brown, the RAC International Grand Prix was staged on 2 October, using similar regulations to those that shaped pre-war grand prix racing. The track layout comprised the airbase’s perimeter roads, with straw bales and ropes protecting the piggery and the crops in the middle of the circuit.

Ford puts Volvo up for sale

Having spent most of the last twenty years carefully building up a portfolio of Prestige European car makers, including Jaguar, Land Rover, Aston Martin and Volvo, the last of these, Volvo, has now been put up for sale by Ford. This hardly comes as a surprise when you see the precarious state of Ford. It’s busy going cap-in-hand to the US government looking for a bail out, and selling off Volvo could add several hundred million pounds to its decimated balance sheet.