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.

In the meantime, Reuters reports that VW and Porsche are working “at arm’s length” even though they have the same CEO and CFO and develop cars together, a fact which is testing CEO Martin Winterkorn’s patience. Earlier this month, Winterkorn was quoted as saying he wants to bring the companies closer “without needing to have a lawyer stand next to a Porsche employee every time he screws something into a Volkswagen or vice-versa.”

CarBlog

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.

In the meantime, Reuters reports that VW and Porsche are working “at arm’s length” even though they have the same CEO and CFO and develop cars together, a fact which is testing CEO Martin Winterkorn’s patience. Earlier this month, Winterkorn was quoted as saying he wants to bring the companies closer “without needing to have a lawyer stand next to a Porsche employee every time he screws something into a Volkswagen or vice-versa.”

CarBlog

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.

CarBlog

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.

CarBlog

CAR Magazine has reported that Mini’s mini Mini also known as the Rocketman has been cancelled.

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.

View more images below:

CarBlog

CAR Magazine has reported that Mini’s mini Mini also known as the Rocketman has been cancelled.

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.

View more images below:

CarBlog

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.

CarBlog

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.

CarBlog

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 thestretched 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.

Watch the Audi R8 Limo promo video below:

CarBlog

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 thestretched 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.

Watch the Audi R8 Limo promo video below:

CarBlog

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).

CarBlog

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).

CarBlog

An exceptionally rare Jaguar, the XJ220S, that is headed for auction in Arizona is expected to be sold for between $225 000 and $300 000. The vehicle is chassis number 784 and has been with the owner for the past eight years.

The regular Jaguar XJ220 was a limited production run of 350 units but the rare model that is up for auction is one of only six units that were produced.

The XJ220S was built with the assistance of  Tom Walkinshaw Racing (TWR) who stripped most of the original XJ220′s aluminum body and replaced it with superlight carbon fibre. The model was also fitted with a front splitter, wider sills and an adjustable rear spoiler that resulted in an even more aggressive stance.

The Jag originally came with a V6 power unit that produced 680hp (689PS/507kW) and 712Nm (526 lb-ft) of torque, but a new titanium exhaust system by TWR and additional engine updates has raised it to approximately 700 hp (709PS/521kW).

CarBlog

An exceptionally rare Jaguar, the XJ220S, that is headed for auction in Arizona is expected to be sold for between $225 000 and $300 000. The vehicle is chassis number 784 and has been with the owner for the past eight years.

The regular Jaguar XJ220 was a limited production run of 350 units but the rare model that is up for auction is one of only six units that were produced.

The XJ220S was built with the assistance of  Tom Walkinshaw Racing (TWR) who stripped most of the original XJ220′s aluminum body and replaced it with superlight carbon fibre. The model was also fitted with a front splitter, wider sills and an adjustable rear spoiler that resulted in an even more aggressive stance.

The Jag originally came with a V6 power unit that produced 680hp (689PS/507kW) and 712Nm (526 lb-ft) of torque, but a new titanium exhaust system by TWR and additional engine updates has raised it to approximately 700 hp (709PS/521kW).

CarBlog

A Top Gear “India Special” episode that was broadcast twice over the Christmas period has angered the world’s second largest country who claim that the show had given a “disgusting” portrayal of their country.

During the episode host Jeremy Clarkson was filmed interviewing locals while operating a trouser press in his boxer shorts and with a Jaguar XJS with a lavatory fixed to the boot. The Telegraph has reported that now the Indian High Commission in London has formally complained to the BBC, accusing its producers of deceiving them over the nature of the programme, which was jokingly billed as a “trade mission” but instead presented a stereotypical and unfavourable image of the country.

In a letter sent to the Top Gear producer, officials at the High Commission condemned the latest broadcast as “tasteless” and accused the BBC of breaching undertakings about the filming. The letter copied to BBC’s director general, Mark Thompson stated that “I write this to convey our deep disappointment over the documentary for its content and the tone of the presentation. You are clearly in breach of the agreement that you had entered into, completely negating our constructive and proactive facilitation.”

Mr Vaz, the chairman of the Home Affairs select committee, said there was now a risk that damage could be done to important trade relations with India.

A BBC spokesperson said that the broadcaster would respond to the India High Commission “in due course”.

This is the latest in a string of controversial incidences by Top Gear presenters -last month the BBC had to apologise after Clarkson told viewers that striking workers should be shot with other apologies earlier last year to Mexico when co-presenter Richard Hammond insulted Mexicans by comparing them to a Mexican sports car. In the past few days Clarkson has also caused bewilderment in China for making tasteless comments in his newspaper column about the Morecambe Bay cockle picking tragedy in which 23 Chinese migrant workers died.

CarBlog

A Top Gear “India Special” episode that was broadcast twice over the Christmas period has angered the world’s second largest country who claim that the show had given a “disgusting” portrayal of their country.

During the episode host Jeremy Clarkson was filmed interviewing locals while operating a trouser press in his boxer shorts and with a Jaguar XJS with a lavatory fixed to the boot. The Telegraph has reported that now the Indian High Commission in London has formally complained to the BBC, accusing its producers of deceiving them over the nature of the programme, which was jokingly billed as a “trade mission” but instead presented a stereotypical and unfavourable image of the country.

In a letter sent to the Top Gear producer, officials at the High Commission condemned the latest broadcast as “tasteless” and accused the BBC of breaching undertakings about the filming. The letter copied to BBC’s director general, Mark Thompson stated that “I write this to convey our deep disappointment over the documentary for its content and the tone of the presentation. You are clearly in breach of the agreement that you had entered into, completely negating our constructive and proactive facilitation.”

Mr Vaz, the chairman of the Home Affairs select committee, said there was now a risk that damage could be done to important trade relations with India.

A BBC spokesperson said that the broadcaster would respond to the India High Commission “in due course”.

This is the latest in a string of controversial incidences by Top Gear presenters -last month the BBC had to apologise after Clarkson told viewers that striking workers should be shot with other apologies earlier last year to Mexico when co-presenter Richard Hammond insulted Mexicans by comparing them to a Mexican sports car. In the past few days Clarkson has also caused bewilderment in China for making tasteless comments in his newspaper column about the Morecambe Bay cockle picking tragedy in which 23 Chinese migrant workers died.

CarBlog

BMW has recently announced plans to invest $900 million into their plant in Spartanburg, South Carolina for the production of the upcoming X4 crossover.

The investment will create 300 new jobs by the end of 2012, increasing production capacity to 350,000 units and became necessary in response to a growing global demand for BMW’s X-Model crossovers.

A smaller version of the X6, the X4 is being designed for the emerging compact crossover market. Although the company have not yet revealed full details about the model, it will be based on the X3, which was also built on the same plant. Expected to launch in 2014, to rival that of the Range Rover Evoque and the Porsche Cajun, the X4 will reportedly offer a variety of four- and six-cylinder engines.

BMW has recently announced plans to invest $900 million into their plant in Spartanburg, South Carolina for the production of the upcoming X4 crossover.

The investment will create 300 new jobs by the end of 2012, increasing production capacity to 350,000 units and became necessary in response to a growing global demand for BMW’s X-Model crossovers.

A smaller version of the X6, the X4 is being designed for the emerging compact crossover market. Although the company have not yet revealed full details about the model, it will be based on the X3, which was also built on the same plant. Expected to launch in 2014, to rival that of the Range Rover Evoque and the Porsche Cajun, the X4 will reportedly offer a variety of four- and six-cylinder engines.

After officially revealing the much anticipated 2012 911 Carrera Cabriolet at this year’s Detroit Auto Show, Porsche has wasted no time introducing the latest of its upcoming models, the 2013 Boxster. While the mid-engine roadster won’t make its official debut until the Geneva Motor Show in March, here are some preliminary details.

In terms of re-design this very attractive Porsche shows off revised headlamps and more svelte running lamp/air intake setup with a wider stance and longer wheelbase. The 2013 Boxster’s aluminum skin reduces weight in comparison to its predecessor that serves to make it more engaging on the roads while simultaneously improving fuel economy.

Behind the seats there are two flat-six engines with direct injection, thermal management and start/stop functionality. The base Boxster uses a 2.7-litre flat six, good for 265 horsepower while the Boxster S is powered by a 3.4-litre six that produces 315 hp. The standard Boxster will run to 60 miles per hour in 5.4 seconds with the seven-speed PDK dual-clutch transmission, while the Boxster S will do the same in just 4.7 seconds. A six-speed manual gearbox is also available with either engine.

The official press release describes the new Boxster as ”Lighter, more muscular, more distinctive and more fuel-efficient.”

The 2013 Boxster will be available in U.S. show rooms this summer in the Northern hemisphere at a price of $49,500 for the Boxster and $60,900 for the Boxster S.

CarBlog

After officially revealing the much anticipated 2012 911 Carrera Cabriolet at this year’s Detroit Auto Show, Porsche has wasted no time introducing the latest of its upcoming models, the 2013 Boxster. While the mid-engine roadster won’t make its official debut until the Geneva Motor Show in March, here are some preliminary details.

In terms of re-design this very attractive Porsche shows off revised headlamps and more svelte running lamp/air intake setup with a wider stance and longer wheelbase. The 2013 Boxster’s aluminum skin reduces weight in comparison to its predecessor that serves to make it more engaging on the roads while simultaneously improving fuel economy.

Behind the seats there are two flat-six engines with direct injection, thermal management and start/stop functionality. The base Boxster uses a 2.7-litre flat six, good for 265 horsepower while the Boxster S is powered by a 3.4-litre six that produces 315 hp. The standard Boxster will run to 60 miles per hour in 5.4 seconds with the seven-speed PDK dual-clutch transmission, while the Boxster S will do the same in just 4.7 seconds. A six-speed manual gearbox is also available with either engine.

The official press release describes the new Boxster as ”Lighter, more muscular, more distinctive and more fuel-efficient.”

The 2013 Boxster will be available in U.S. show rooms this summer in the Northern hemisphere at a price of $49,500 for the Boxster and $60,900 for the Boxster S.

CarBlog