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Porsche to take majority stake in VW for £7bn
Fri, 07 Mar 2008By Ben Whitworth Motor Industry 07 March 2008 11:26 Porsche is about to become the majority shareholder in Volkswagen. The sportscar maker has been given the green light to purchase further stock in VW, taking its share past the 50 percent mark to give it a controlling interest. As soon as various legal checks have been cleared, Porsche plans to purchase a further 20 percent of VW stock – it already owns 31 percent - at an estimated cost of around £7 billion.
Steve Saleen still planning supercar
Tue, 03 Apr 2012Auto-tuning entrepreneur Steve Saleen says he has legally regained use of his name on all his products after a lengthy court battle. On Tuesday, he detailed some of the plans for the company. Remember the S5S Raptor concept car revealed at the New York auto show in 2008?
Toyota Tundra: Toyota recalls 110,000 pickups on rusted-frame concern
Tue, 24 Nov 2009Toyota Motor Corp. is recalling 110,000 Toyota Tundra pickups for the 2000 to 2003 model years after reports that rusted frames in cold weather may cause spare tires under the truck bed to break loose and fall onto the road. Corrosion of the rear cross-member, which supports the spare tire, also eventually may affect the rear brake line and lengthen vehicle stopping distances, increasing the risk of a crash, Toyota said in a statement Tuesday.