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Volkswagen hits back, weighs making a bid for Porsche
Thu, 23 Apr 2009Volkswagen 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.
Audi A5 (2007): first official pictures
Sat, 24 Feb 2007By Tim Pollard First Official Pictures 24 February 2007 08:09 Audi A5: this time it's official Stung by the leak of A5 photos, Audi has brought forward the first official pictures of its new A5 mid-sized coupe. It's the car designed to bridge the gap between the TT sports coupe and the R8 supercar - Audi's calling it a modern grand tourer. CAR Online brought you theleaked photos of the sporty S5 earlier this week; today we can publish all the official details of the regular A5, which goes on sale in June.
2012 Mercedes SLK55 WILL get 5.5 litre V8
Wed, 20 Jul 20112012 Mercedes SLK55 to get naturally aspirated 5.5 litre V8 (2011 SLK photo) You never really know until it’s officially announced, but we did expect the 2012 Mercedes SLK55 to get the new 5.5 litre V8. When Mercedes revealed the new SLK back in January, we knew there were still two more versions to come for 2012 – the SLK55 and the Diesel SLK – and that we’d get the official details later. Well, now it’s later – at least for the SLK55.