VW to take over Porsche

VW to take over Porsche


29th July 2009
In a shock reverse takeover bid Volkswagen has new plans to acquire Porsche, turning the tables on Porsche's recent plans to buy out VW. The world wide recession has had a serious impact on Porsche's financial status with unsustainable debts of around $14 billion, whilst VW has shown a much stronger foothold in the economic downturn.

The news comes as the chief executive and financial director of Porsche step down from their positions with rumours of handsome pay off's although details of this remain unconfirmed.

Porsche worker unions are upset by the intended move with concerns over job loses and talks of strike action on the factory floors is already surfacing. This maybe a premature concern considering the merger of the two companies is intended for summer 2011.
The New Volkswagen Golf R
The New Volkswagen Golf R
VW have taken the ever popular Golf to another level with the Golf R, the most powerful Golf to ever hit the streets. This thing r..
16th October 2009
New Astra on Sale
New Astra on Sale
Vauxhall dealers are now taking orders for the New Astra, the long awaited sixth generation of the model. This really is an all ne..
29th September 2009
The RCZ from Peugeot
The RCZ from Peugeot
RCZ was a stunning concept car from the French car maker Peugeot but they have just confirmed this superb 2 + 2 sports coupe will ..
16th September 2009
Vauxhall sold to Magna
Vauxhall sold to Magna
The recession wounded car manufacture General Motors has confirmed it will be selling Vauxhall to car parts producer Magna leaving..
13th September 2009
Petrol Prices Hike
Petrol Prices Hike
Motorist have yet again been delivered the bad news of potentially large increases to the cost of fuel. It has been suggested by t..
26th August 2009
Dealer Search
Search by county for dealers:
Marque:
 Dealers
County:
 
Other News
Toyota loses 483 million
6th August 2009
The Cost of Car Insurance
31st July 2009
The New BMW X1
30th July 2009