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Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

Volkswagen Iroc concept

The Iroc is a show car preview of a production coupe to be launched next year that will fill a gap in the Volkswagen model line up left by the demise of the Corrado 11 years ago. Volkswagen describe the Iroc as "transferring the globally successful Scirocco idea into the future" - the Scirocco Mk1 by Giugiaro being produced from 1974-1982, the Mk2 from 1982-1992. Like the Scirocco, the Iroc is a front wheel drive coupe with four seats - as opposed to the 2+2 seating arrangement of the only other sports coupe from Volkswagen Group: the Audi TT.

New design chiefs for Peugeot and Citroen

PSA Peugeot Citroen is under new design leadership this week. As of 4 January 2010, Gilles Vidal has taken over as design director for Peugeot and Thierry Metroz is the new pencil wielder-in-chief at Citroen. Both will report to Jean-Pierre Ploué, who remains design director for the PSA group.