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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.
Skoda Rapid SE Connect and Rapid Sport Limited Editions announced
Wed, 15 Jan 2014Skoda Rapid SE Connect and Rapid Sport Limited Editions announced January isn’t the hottest sales month for car makers, so a limited edition or two to get footfall in car showrooms is a good idea. So Skoda has revealed a pair of Rapid special editions for the UK in the Rapid SE Connect and Rapid Sport to put a bit of extra fizz in sales. The Skoda Rapid SE Connect starts life as a a Rapid SE with the 85bhp 1.2 litre petrol engine and comes in either Brilliant Silver or Denim Blue with 16″ alloys, parking sensors, SatNav and DAB.
New Land Rover Defender – Project Icon
Sat, 26 Sep 2009Land Rover are planning a new Defender to launch in 2012 As always, the Defender is going to be the traditional Land Rover as – unlike the rest of the Land Rover Range which is moving over to aluminium platforms – the new Defender will be based on the existing – and very capable – current model Discovery platform. The use of the T5, twin rail steel chassis from the Discovery is vital if the Defender is to continue to offer the range of body styles currently available – including hard and soft tops – which make the Defender the versatile work horse it is. But the Defender will still be going on a diet and will be a lighter car than the current Model.