VW poised for Porsche buy-out

By -


The Volkswagen supervisory board is due to discuss completing the buy-out of Porsche AG on February 14, according to reports from Germany.

VW already owns 49.9 percent of Porsche and, according to the reports, it is preparing to purchase the other 50.1 percent. German magazine Der Spiegel says VW will pay £3.2billion (Rs 250 crore) ‘plus taxes’ for the stake, the same price it paid in December 2009
.
VW first stepped in when Porsche’s parent company was close to collapse in the wake of the credit crunch and Porsche’s attempt to takeover VW itself.

Under the ambitious leadership of Wendelin Wiedeking, Porsche had tried a reverse takeover of VW, building up a 50 percent stake in the giant carmaker before the slump took hold, leaving Porsche AG with massive debts.

Comments

Post a Comment

Popular posts from this blog

All new Ambassador makeover by Hindustan Motors in 2012 .

By -
Image
Sixty years back, the word ‘car’ in India literally meant the Ambassador for most Indians. A lot has changed since then, with horde of automobile manufacturers active in the Indian market, sales figures for Hindustan Motors have hit an all time low 5,510 units in the first 10 months of the current fiscal year. Over the years, it has been the Indian political class that has been keeping Hindustan Motors rolling. The latest blow to Hindustan motors came from the Govt. of India itself, which replaced the Ambassador with cars like the  Maruti SX4  and the  Tata Indigo CS considering safety and performance issues. The next-gen Ambassador will feature structural, aerodynamic and aesthetical chages. Changes on board the 2012 Ambassador include new engine calibrations, an anti-lock brake system and aluminium alloy wheels. For comfort, there will be new leather seats coupled with wood grain interiors. For the first time, there will also be an integrated music system and redesigned instrument c
Read more

NEW CR-V

By -
Image
These are the first official images of Honda’s all-new CR-V. Honda had released the first official picture of the CR-V concept last summer, and was due to unveil the production car at next month's Los Angeles motor show. However, the latest images appeared without explanation on the Honda’s Japanese website at the weekend. The CR-V is based on an all-new platform. The most prominent changes are at the front, where the CR-V features a wraparound lower front bumper that is better integrated into the rest of the front fascia than on the current car. The three-bar horizontal front grille is also much more dominant than the current CR-V’s, with slimmed-down headlights flanking it on either side. Honda claims the front-end styling changes result in much improved aerodynamics over the current car. Sculpted bodywork features on the sides, which also get more pronounced side sills. The large alloy wheels featured on the concept have been exchanged for more practical-looking variants.
Read more

Maruti S-cross facelift: What to expect

By -
Image
Maruti revealed a facelift for the S-cross at the Paris motor show earlier this year. The automaker’s premium crossover now gets a more distinctive front end with a new larger upright grille, new headlamps and a new bumper. The rear gets minor cosmetic tweaks as does the cabin with revised upholstery and new trim options. Maruti is planning to bring the refreshed S-cross to India late next year, and expects that the more crossover-like design of the facelift may boost sales of the slow seller. Engines While the international model received two new turbocharged Boosterjet petrol engines, for India, the facelift will continue to offer the current line-up of 1.3 and 1.6-litre diesel engines. Maruti is also working on a petrol variant for the S-Cross which could be launched with the facelifted model. Features In terms of equipment, we can expect features such as the parking camera, Maruti’s Smartplay infotainment system, automatic headlamps, rain sensing wipers, auto climat
Read more