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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.

Driven: BMW X3

The BMW X3 had the premium CUV market to itself when launched in 2004. Skip forward to the launch of the second generation and not only does the new version have a whole host of competitors for company, it also has to fit around its X1, X5 and X6 siblings. We took the 2011 BMW X3 (known internally as F25) to the Austrian Tyrol and spoke to its exterior designer, Erik Goplen, to find out if it still has the segment covered.

Chevrolet to build the Beat

By Motor Industry 28 November 2007 17:25 Chevrolet has just announced that its tiny baby, the Beat, will go into production in 2010. It will be sold in the US - and across Europe. Chevrolet previewed three city car concepts at the New York Auto Show earlier this year.