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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.

Alfa Romeo 159 – upgrades for 2010

Alfa Romeo has updated the 159 for 201 with new trim levels and two new engines The Alfa 159 is arguably the best looking compact executive saloon on the market. We know, it doesn’t sell as well as the German competition, but it is a fine looking car and has a great deal of ‘Alfa-ness’ about it. But Alfa has decided a few tweaks are needed, so it’s throwing a couple of new engines at the 159 and having a play with the trim options.

Volvo plans diesel and electric cars for U.S., will aim S60 at enthusiasts

Volvo will add diesel and electric cars to its U.S. product lineup as it tries to meet stricter U.S. fuel-mileage standards that will begin phasing in for the 2012 model year.