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Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

VW Design Vision Golf GTI (2013) 493bhp Golf revealed

As CAR reported in our scoop last week, VW will unveil a higher-performance Golf GTI hot hatch at the 2013 Wörthersee show, and here we have the first sketches of the super-Golf. Called the VW Design Vision Golf GTI, the concept packs close to 500bhp and can outrun a Porsche 911. It's by far the most extreme Golf hot hatch since the Bentley-engined GTI W12 concept of 2007.

Porsche 911 Carrera S Powerkit offers 424 bhp

Porsche is offering a Powerkit for the Carrera S with 424bhp and an Aerokit Cup bodykit for the faux GT3 look. The 2012 Porsche 911 Carrera has only been with us for five minutes but already Porsche are offering more power and some add-on aero bits for a bit of a faux GT3 experience for new 911 owners. On the power front, Porsche Exclusive is offering a Powerkit for the 911 Carrera S which ups its power to 430hp (424bhp) from the regular 400hp.