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Toyota GT 86 Convertible confirmed

Toyota GT 86 Convertible on the way With the Toyota GT 86 not yet out in the wild, we learn that Toyota are planning a GT 86 Convertible. In what is perhaps one of the least surprising revelations recently, Toyota’s chief engineer has conformed that they are working on a convertible version of the GT 86. Well, they want to take a piece of the MX-5′s market with their new ‘affordable’ sports car so they have little choice.

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.

New Lexus RC F to rival BMW M4

Lexus has confirmed the first details of a new RC F high performance model, which will debut at the Detroit Motor Show 2014 next week. Driven by what’s said to be the most powerful 5.0-litre V8 ever offered by Lexus, the RC F is set to top the new RC coupe range that was unveiled at the 2013 Tokyo Motor Show last November. A spiritual successor to the old Lexus IS F, the RC F will become the first rival to challenge the new BMW M4 later this year.