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Despite reports that investors filed a $2.6 billion suit against Porsche over the Stuttgart maker’s attempt to gobble up VW and an arbitration application against Volkswagen, according to Der Spiegel, a VW executive has said that its ownership of Porsche could finally be concluded this year.
VW had initially predicted that the deal would be concluded by last year but then released a statement in September stating that too many hurdles and unknowns remained concerning investigations and economic consequences for the deal to get done any time in 2011. These hurdles involved previous lawsuits, including one brought by American investors in 2010, and the fact that VW couldn’t evaluate Porsche adequately until they were settled.
However, these latest reports mention nothing of lawsuits and instead, the resolution of the issues include a one-billion-euro tax payment that VW can avoid by creating a holding company by 2014 to control the Porsche stake and VW agreeing to contractually assure Porsche retains control over its models and where it spends its money. According to the above mentioned executive, this opens the door for VW to absorb the final 50.1 percent of Porsche it doesn’t currently own, for a price of €3.9 billion.
The Rolls-Royce Ghost is a huge sales success and the company has revealed that 56% of buyers choose to customize their vehicles in an exclusive fashion.
While customization and Rolls-Royce are virtually synonymous, the take rate for bespoke Ghosts is slightly lower than the Phantom’s impressive 80% rate. Despite this, customers have still been ordering everything from custom paint jobs to luxurious interiors with champagne sets, humidors and picnic cabinets.
Rolls-Royce CEO Torsten Müller-Ötvös said in a recent statement that “It is always our goal to exceed our clients’ highest expectations and fulfill their innermost desires. With highly bespoke Phantom and Ghost models, we are able to achieve this.”
Source: World Car Fans
Car Magazine has scooped some pics of the early prototype of the third generation Audi TT for 2014 on test in Europe as Audi prepares its new coupe for development.
The car’s mean looking front, boasts a hectagonal singleframe grille, a pair of large low-mounted air intakes as well as wraparound combined headlamp-and-indicator units. To increase the downforce at the rear it houses an active air dam which is supported by a neatly integrated high-mounted roof spoiler.
The interior will showcase a variation of the fully animated single screen instrument panel devised for the next Audi R8 Supercar.
As for the driving performance, based on the same flexible MQB architecture as the next 2012 VW Golf Mk7 and Audi A3, the new TT relies once more heavily on four-cylinder engines. The two petrol-fed four-cylinders deliver 180 and 220bhp, the diesel develops 178hp and the racier TTS will be equipped with a 276bhp turbocharged 2.0 litre. Quattro is standard on this model and on the next TT RS, which borrows the 385bhp kraftwerk upgrade from the 2012 limited-edition.
CAR Magazine has reported that Mini’s mini Mini also known as the Rocketman has been cancelled.
Some features of this futuristic city car include double hinged doors, carbon fibre spats, suede leather and paper material used in the interior, emphasised tail-lights and pull-out drawer at the trunk for loading and holding personal items.
Among the many new Minis that BMW have recently signed off on, the Rocketman, with its extremely short wheel-base, is unfortunately not one of them. The Rocketman concept was originally revealed as part of a design study showing what a shrunken Mini could look like in the twenty first century, that was true to the brand’s core values.
The reasons for the cancellation of its production are not due to marketing or costs but rather a variety of problems that included the considerable investment that Munich would have to make to make the city car meet current regulations and the stability, handling and crash performance of the small vehicle. In addition, The Rocketman concept was just 3419mm long (versus 3723mm for a current three-door Mini hatch) and 1907mm wide.
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Two students from Lawrence Technology University in Michigan, U.S.A Colin Bonathan and Jeeho Cha have presented renderings of their proposal for an all-electric Lincoln Continental for production in 2025. The project is fully endorsed by Lincoln’s parent company, Ford who were very impressed by the futuristic and innovative vehicle.
The idea started in the summer of last year when the design students began to work on the concept. It was presented to officials of the American automotive giant and it had the desired effect with the agreement of an endorsement deal. At the time, The Ford officials liked it so much that they commissioned to have a quarter-scale model displayed at the recent Detroit Auto Show.
Carbonyte UK will be collaborating with Limo Broker out in the UK to create the world’s first, super-stretched Audi R8 V10. Limo Broker is already known for their development of the stretched Ferrari 360 Modena limousine. The project has already received so much attention that it has reportedly been fast-tracked for completion in the next few months.
The fastest car that Audi has ever built will retain the 5.2l V10 engine that would normally propel it to more than 190mph but will lose its great handling and maybe even its dignity too. Despite the enthusiasm for such a vehicle, it is likely that it will generate some controversy by car fans everywhere. The modified supercar will seat eight passengers in bucket seats and getting in and out will be facilitated by the addition of four gullwing doors on both sides.
Limo Broker has announced that work on the eight seater Audi R8 conversion has already started and they estimate that it’ll be completed by the summer of 2012.
For the last several years, Ford has been teaming up with Barrett-Jackson to auction off some specially developed vehicles for charity. Those past vehicles have included the first production examples of the Shelby GT500KR and Shelby GT as well as special one-offs like last year’s Grabber Blue Mustang Boss 302 Laguna Seca. The charity for which all of these cars have raised hundreds of thousands of dollars for is the Juvenile Diabetes Research Foundation (JDRF).
Once again, Ford will be auctioning off one of its special vehicles for charity but this time, it will be different from the others. Up for auction in 2012 will be a 2013 Shelby GT500 development car used by SVT to hone the production ‘Stang. This prototype was run extensively at Sebring and the high speed oval at Ford’s Arizona proving grounds. It was even driven by Carroll Shelby himself during the development process.
Carroll Shelby commented that ”I raced on the Sebring International racetrack for many years, but my ambition was always to build my own car. So it was exciting to be back to collaborate on this GT500 durability car with the SVT guys. I’m really proud to have my name on this car. They took my dreams of what a car should be and made it a reality.”
Sportec has introduced a new tuning package for the Audi RS3 Sportback.
The Audi RS has a stainless steel sports exhaust system, an adjustable coilover suspension, that reduces the ride height by 20-40mm, and 20-inch alloy wheels that cover high-performance Movit brakes.
A revised ECU results in the 2.5-litre five-cylinder engine producing 408 PS (300 kW / 402 hp) and 550 Nm (406 lb-ft) of torque – an increase of 68 PS (50 kW / 67 hp) and 100 Nm (74 lb-ft). Non-Swiss versions can be tuned to deliver 500 PS (368 kW / 493 hp).
Source: World Car Fans
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