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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.

Lexus at the London motor show 2008

By Ben Whitworth and CAR reader reporter Carcare Motor Shows 23 July 2008 16:40 There was a performance bent on the Lexus stand, proving that Toyota's upmarket premium brand is keen to shed its image as a purveyor of steady-Eddy, high-luxury but low-on-thrills cars. What’s new on Lexus’s London motor show stand?The seen-it-before LF-A and the on-sale-now hotshoe IS-F – as well as its full line-up of hybrid models. We’re getting rather accustomed to seeing the LF-A – the Lexus supercar has been knocking around in one form or another since it was unveiled at the Detroit motor show in 2005.

Mercedes try to 'bring the noise' back to F1

MERCEDES trialled a device aimed at amplifying and improving the much-maligned sound made by the 2014 marque Formula One cars on the second day of testing in Barcelona. With new V6 engines forming part of an overhaul in F1 regulations, widespread criticism of the dulcet tones has continued from the opening race of the season in Australia. With F1 chief Bernie Ecclestone amongst those to question the enjoyment of listening to the new engines, the teams decided to look into ways of making it a more pleasurable experience.