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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.

Next-generation Ford Transit dubbed taxi of the future

Ford introduced its redesigned 2014 Transit Taxi, which features increased passenger and cargo space, claimed “livery-duty durability,” and lower operating costs. The 2014 Transit comes with a new 2.5-liter four-cylinder gas engine and a six-speed automatic transmission. The transmission is expected to deliver best-in-class highway fuel economy.

And the European Car of the Year 2010 is...

Newsflash: VW's Polo has won the European Car of the Year gong, it was announced today in Madrid. It beat 33 contenders, including six other finalists to the top motoring prize in Europe.The Polo narrowly won with 347 points, putting to rights its trophy-free record in Car of the Year. The runner-up was the innovative Toyota iQ, 10 points behind with 337 points.