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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.

Citroën Cactus concept

Citroën has revealed its new Cactus concept, designed to preview the future of the carmaker's C-line. The Cactus concept is the result of a program that began with the debut of the C-Cactus concept at the 2007 Frankfurt motor show. The C-Cactus was designed to find out what motorists expect from cars and which equipment and features are considered the most important.

VW Up! Lite (2009) first official pictures

By Tim Pollard First Official Pictures 02 December 2009 18:30 Here's our best look yet at what a Euro-spec VW Up microcar could look like. This VW Up! Lite concept car was shown at today's 2009 LA auto show – to preview a productionised baby VW, with a diesel-electric powertrain for a stunning 116mpg economy figure.The Up Lite!