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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.

UK Car Sales up again in November (2012)

The Society of Motor Manufacturers and Traders has revealed that new car sales grew again in the UK in November – up by 11.3 per cent. At some point, new car sales in the UK must surely start to ease as the economic pressure bite, but so far in 2012 we’ve had an inexorable rise in numbers. The latest figures for November show new car sales (well, to be precise, new car registrations – which include Pre-Reg cars) up by an impressive 11.3 per cent, following on from a rise of 12.1 per cent in October, with private buyers driving sales rather than fleet.

Official 2014 Porsche 911 Turbo photos and details

Updated: Scroll down for the official 911 Turbo video from Porsche Got a spare $150,000 sitting around doing nothing? Read on: You know that 2013 is the Porsche 911's 50th anniversary, right? Well, 2013 is also the 911 Turbo's 40th.