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Porsche to take majority stake in VW for £7bn

By Ben Whitworth Motor Industry 07 March 2008 11:26 Porsche is about to become the majority shareholder in Volkswagen. The sportscar maker has been given the green light to purchase further stock in VW, taking its share past the 50 percent mark to give it a controlling interest. As soon as various legal checks have been cleared, Porsche plans to purchase a further 20 percent of VW stock – it already owns 31 percent - at an estimated cost of around £7 billion.

2010 Chevrolet Equinox gets price cut from GM

The 2010 Chevrolet Equinox will carry a base price of $23,185, including its delivery fee, when the crossover goes on sale in June. The restyled, re-engineered Equinox will cost $1,800 less than the previous generation, Ed Peper, vice president of Chevrolet, said today in a statement. General Motors has said it hopes the Equinox will get 30 mpg highway, up from 24 mpg on the base model of the 2009 version.

Concept Car of the Week: Mazda RX500 (1970)

Developed by the Toyo Kogyo Company's advanced design and engineering team, the Mazda RX-500 was described as a ‘mobile test bed for high-speed safety'. Looking at its design, the team's childlike enthusiasm has shone through, resulting in a very cool concept.  From the rakish front to the wraparound windscreen and on to the bread van rear, everything communicates high-tech and ‘70's futurism while also channeling a little of the Star Wars X-Wing. Thanks to plastic body panels, the concept weighs only 850kg and is powered by a 491cc rotary engine delivering 247bhp fitted behind the cabin, in front of the rear axle.