1987 Porsche 911 Carrera 911 G50 on 2040-cars

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Porsche Australia price cuts in excess of $36,000 irks customers

Have you ever gone to the store, only to become irked after learning that the new [*insert widget here*] that you bought just last week has gone through a price drop? If you're particularly thrifty, even if it's only a couple of bucks, you probably brought in your receipt to see if the store would issue you a credit for the difference. Now, imagine that the widget in question isn't a minor purchase, it's a Porsche - and the price drop isn't just a few bucks - it's thousands.
That's the unhappy scenario that recently faced a number of Australian luxury car buyers and the uncomfortable conversation awaiting the German automaker. According to GoAuto, Porsche Australia recently whacked up to $36,000 off the price of its models in order to jumpstart sales Down Under - the Panamera range itself saw cuts between $5,500 and more than $36,000. The aggressive price cut was a strategy designed to drive sales of more than 3,000 cars locally, a yearly goal originally set for 2018, but now hoped for as early as 2016.
Australia is known for its comparatively high car prices, so the dramatic price cuts were undoubtedly welcome news to potential Porsche shoppers. However, around 50 existing customers were understandably agitated by the reductions because they purchased their cars just before the adjustments took effect. Not only did they stand to lose out on the deals, they also had good reason to fear that their new cars' residual values would take a beating.

2017 Porsche 911 Carrera experienced from the passenger seat

Autoblog joins Porsche for Rennsport Reunion V at Mazda Raceway Laguna Seca, the fifth international gathering of all things Porsche. If you've ever had a picture of a Porsche on your wall or dreamed of owning a certain model, either that very car or one just like it is here. Watching three 917 racers blaze over the rise at the front straight and down into turn one can make a viewer think, "So this is how Steve McQueen felt..." It was a modern Porsche that delivered one of the highlights of the first day, though: we rode shotgun for three hot laps of the track in the new turbocharged 991.2-series 911 Carrera S, with Thomas Krickelberg, director of powertrain for the 911 model line, our pilot. We cornered him and August Achleitner, vice president of the 911 product line, for a few questions about the changes. What do you call the standard 911 now that it has turbocharged engines? Carrera. If you're wondering what to call the standard 911 now that they have turbocharged engines, the answer is: Carrera. Krickelberg said, "In-house we call them 'little turbo' and 'big turbo,'" but the Carrera is a model line within the 911 model line, the big boy 911 Turbo is a second model line within the 911 family. One will continue to be called Carrera, the other simply Turbo. The move to turbocharging came to serve the twin kings of performance and fuel economy, but engineers played around with numerous configurations. A non-turbo engine displacing about 4.0 liters – that's as big as the 9A1 engine block can go – was considered, but that setup couldn't deliver the desired fuel efficiency. Krickelberg said engineers considered a small-displacement block of around 2.0 liters, but that was abandoned because "takeoff behavior was worse" because the turbo was called upon to do too much of the heavy performance living. Krickelberg added, "Not only that, but there was a too big a gap between real-world fuel economy and homologation fuel economy." Base Carrera and the Carrera S models haven't used the same engine displacement since the 996 series departed at the end of 2004. Achleitner said, "We found 3.0 liters is the best solution to get the best mix of fuel and air in combustion chamber - it offered the best geometry, bore and stroke, and the size of the walls.

$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.