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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.

Ford to sell two concepts at auction

Amongst the numerous one-off concept cars and rare historic vehicles set to be auctioned off at the forthcoming RM Auctions sale in Monterey, California, Ford has contributed two of its own unique concept cars to be sold. All proceeds of the sale will go to the Juvenile Diabetes Research Foundation (JDRF) charity. The race-inspired 2005 Ford Shelby GR-1 concept and the 2001 Thunderbird Sports Roadster concept will be presented by the world's largest collector car auction house on August 19th in California as part of its Monterey sale. It is believed that the 2001 Shelby will sell for between $150,000 and $200,000 while the 2001 Thunderbird concept will fetch between $125,000–$175,000. There will be no reserve on the cars.

VW Race Touareg 3 (2011) first pictures

You might usually associate the Volkswagen Touareg with school-run mums whose furthest foray off-road is up the kerb and onto a wet field – this is something different, this is the new VW Race Touareg 3. That there is, and it’s the Race Touareg 2 that’s taken the chequered flag at the last two Dakar rallies, becoming the first diesel-powered winner in 2009. And after 2010’s 1-2-3 finish, the VW board decided it was onto a good thing and commissioned Volkswagen Motorsport to update its Touareg racer for the January 2011 race.