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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.
Volkswagen's de'Silva aims for positive influence on Porsche styling
Mon, 11 Oct 2010Volkswagen Group design director Walter de'Silva hopes to add "something positive" to the design of Porsche's new models, beginning with the Cajun SUV. Porsche AG is set to become Volkswagen AG's 10th brand and Porsche design director Michael Mauer now reports to de'Silva, along with the heads of the styling centers of the other VW group brands such as Skoda, Seat, Bentley and Lamborghini. De'Silva said he has just started working with Mauer and their relationship is off to a good start.
Drivers fail car insurance test
Mon, 11 Mar 2013On a 10-question, multiple-choice test asking respondents to choose correct definitions for basic auto insurance terms, the average score was 32 percent out of a possible 100 percent, according to insurance.com. The test group included 500 drivers of all ages and from various regions of the United States, but apparently no matter what the details, nobody really knows much about car insurance. When broken down into demographic segments, women outscored men by about 8 percentage points on average, and drivers in the south beat out those in the northeast by 10 percentage points.