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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.
Subaru XV concept preview
Fri, 15 Apr 2011The XV crossover os another new car from Subaru, this time set to debut at Shanghai auto show. As with the all-new Impreza, Subaru is being tight lipped on details of the car. However, from what little information is available, it appears that the XV is a small 'lifestyle' crossover, in the ilk of the Ford Kuga.
Bentley brings even faster Continental V8 S to Detroit
Mon, 13 Jan 2014Bentley first showed the Continental V8 S at the Frankfurt Motor Show a few months ago, but the slightly more powerful V8 Continental makes its North American debut in Detroit. More horsepower is always welcome, and the handsome new grand tourer delivers precisely 21 more. While Bentley has been concentrating on W12-powered Speed models -- even suggesting that it might be an entertaining drive on a racetrack -- the V8 range has been bolstered by its own modest performance enhancements: 21 more horsepower and 15 more lb-ft of torque bring the 4.0-liter engine's figures up to 521 and 502, respectively.