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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.

Ferrari reveals Enzo replacement teaser shot

Ferrari has revealed the first teaser shot of the Enzo replacement, expected to be unveiled early next year. The Italian carmaker printed the photo in the latest edition of the official Ferrari Magazine, and just from the teaser we can tell that it continues with the brand's latest design direction. The Enzo's replacement also appears to feature the ‘double-bubble' design.

New Jaguar XJ – First Pictures!

The first leaked image of Jaguar's new XJ - launches tonight These leaked images dropped in to our inbox overnight. Not from Jaguar, nor from anyone at Jaguar, but we know they are real. They are also out on the Interweb, so anyone looking can find them.