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Porsche finally becomes a VW company

Volkswagen has announced it is to finalise its takeover of Porsche by buying the remaining 50.1 per cent of Porsche stock for €4.46 billion. The takeover of Porsche by VW has been a long and rocky road, but then family fallouts are always messy. It all started with Porsche attempting to consume VW, but some clever manoeuvring by Ferdinand Piech thwarted the efforts of his cousin, Wolfgang Porsche, to swallow up his business and the financial crisis saw Porsche rack up €10 billion in debt in the process.

Porsche opens new Weissach design studio

Porsche has officially opened its new design center. Located at its Weissach development center, the facility includes interior and exterior design departments, plus a dedicated area for concept car construction. According to Porsche chairman, Matthias Müller, the architecture of the new studio has been designed to allow the firm's "creative developers to work hand-in-hand even more methodically than before." The new design center is one of three new buildings opened at the site, which have been built as part of a $200million investment at Weissach.

Arizona auctions: Valley of the dollars

The next chapter in the battle for auction supremacy will commence this month, when the auction giants gather under the sun for the annual Arizona auction week. Leading the charge is perennial powerhouse Barrett-Jackson, which gathers lots of cars and automobilia under one massive tent. Cars start hitting the block for the six-day auction on Tuesday, Jan.