"Gute Zeiten, Schlechte Zeiten" (Good Times, Bad Times) is perhaps Germany's most popular television soap opera, with the usual trashy blend of bust-ups and improbable romances. A corporate version is currently being played out at Volkswagen. The latest episode involves a fight between the main characters in the saga to see who controls VW. Porsche, the largest shareholder, clearly believes that with its 31 per cent stake in Europe's largest carmaker, it does.

Comments by its chief executive, Wendelin Wiedeking, that there were no "sacred cows" at VW, were deliberately designed to stir up things ahead of this week's Frankfurt motor show. But his remarks seemed essentially aimed at exasperating the IG Metall union, which views VW as its main German stronghold.