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Volkswagen to buy 42 percent of Porsche, full merger planned

Volkswagen will buy 42 percent of Porsche's sports-car business en route to a full merger by the end of 2011, the companies announced Thursday. VW will pay $4.7 billion for its initial stake in Porsche. It positions the new company to have 10 brands and global sales of 6.4 million, and Volkswagen CEO Martin Winterkorn is likely to lead the entity.

A Fine Time To Be A Motorist

ALREADY cash-strapped motorists are paying millions of pounds for minor infringements after a record number of fines were issued, according to claims made by a national newspaper. The Daily Mail said that drivers are paying out £135 million a year after being caught on camera blocking box junctions or straying into bus lanes. Some 1.32 million fines were issued for minor offences in 2011/12, the newspaper said, a record number and a rise of 16% on the previous year.

80% of drivers don't care about emissions

EIGHT OUT OF 10 drivers in the UK say they wouldn’t change their car to a lower emissions model to save on road tax. This stark admission from the nation’s drivers follows a survey that also found 65% of Britain’s motorists don’t know their VED (Vehicle Excise Duty), or road tax, is calculated on the carbon dioxide emissions of their car. Many drivers think their road tax is worked out based on the size of engine in their car.