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Porsche finally becomes a VW company
Thu, 05 Jul 2012Volkswagen 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.
CAFE standards set to rise to 54.5 mpg for 2025
Fri, 29 Jul 2011President Barack Obama on Friday revealed ambitious plans to raise the corporate average fuel economy standard for cars and light trucks to 54.5 mpg by the 2025 model year, a landmark move that will dramatically remake carmakers' product portfolios and consumers' buying habits. Unlike the first CAFE standards passed by Congress in 1975, the Detroit automakers now publicly support the high requirements and have begun retooling their fleets to adapt the changes. “[This] represents the single most important step we've ever taken as a nation to reduce our dependence on foreign oil,” Obama said in a morning press conference.
Top Gear in U.A.E. – with Supercars!
Tue, 12 May 2009The Top Gear Crew in UAE with an LP670-4 SV, Veyron, SLR 722 and McLaren F1 The whole Top Gear crew – including His Stigness the White Stig – have been spotted out playing in the United Arab Emirates with what looks like a mouth-watering selection of cars at their disposal. Which rather seems to suggest that the budget for the new series is not quite as small as we’d feared! So what’s on offer on this jaunt?
