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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.

Kia GT4 Stinger concept car due for Detroit Motor Show 2014

Kia It's the season for pre-Detroit Motor Show announcements - and today Kia issued this further teaser image of its new low-slung sports car: the 2014 Kia GT4 Stinger concept car. With overtones of the Audi R8 supercar about its visage, the GT4 Stinger is a rear-wheel drive coupe driven by a punchy 315hp turbocharged engine. Kia is a major player in the US, and this GT4 concept car is designed to worm its way into the affections of American enthusiasts.

Fiat dual-clutch transmissions are planned for North American products

During the next five years, Chrysler Group's powertrain lineup will be transformed from one dominated by larger-displacement engines to one dominated by Fiat-derived four-cylinder engines, V6s and, eventually, electric vehicles. Chrysler also said Wednesday that it will add Fiat-designed dual-clutch transmissions in its North American products. The company also will launch its new Pentastar V6 engine on the 2011 Jeep Grand Cherokee in the second quarter next year, said Paolo Ferrero, Chrysler's powertrain chief.