2009 Porsche Carrera S Pdk Transmission on 2040-cars

Auto blog

Bugatti and Rimac joint venture profitable 'beyond expectations'

WARWICK, England — The joint venture between Croatian electric carmaker Rimac and Bugatti has been far more profitable than anticipated as the two brands work on developing vehicles together under one roof, Rimac's top executive said on Wednesday. "It's highly profitable and cash flow positive beyond anybody's expectations," Rimac CEO Mate Rimac told Reuters in an interview at the UK offices of the carmaker's Rimac Technology unit in Warwick. "It's such a win-win situation for everybody." Rimac added the joint venture has brought "lots of synergies going both ways." The Rimac Group comprises the Bugatti-Rimac JV, producing the electric sportscar Nevera and the Bugatti Chiron — which is owned 45% by Porsche AG — and a technology unit which supplies battery systems and powertrain components to other carmakers. Earlier this year the group raised 500 million euros ($519 million) in a new funding round. Rimac's CEO said the company has developed a "really close strategic relationship" with Porsche, which was listed by its parent Volkswagen in October. Porsche holds a 20% stake in the Rimac group. "We are really collaborating on many levels, developing and producing lots of key elements of their (Porsche's) future hybridization and electrification," he said. Rimac's CEO said the group must become more like Ferrari with a predictable, stable and profitable business before it can contemplate an initial public offering. "They (Ferrari) make projections and they always achieve," he said. "What I want to have is some kind of stability and certainty before we do an IPO because we don't want to make promises we can't keep." An IPO could happen anytime from three years to a decade from now, and could involve going public as a group or spinning off a unit, he said, but is definitely coming because "we obviously have financial investors that at some point want to exit." Related video: Earnings/Financials Green Bugatti Porsche Electric Luxury Performance Supercars Rimac

What's the deal with all these Porsches Seinfeld is selling?

In case you haven't been able to tell from watching Comedians In Cars Getting Coffee, Jerry Seinfeld is as fanatical about automobiles as he is about comedy. The man has one of the most enviable Porsche collections in the world. But now he's preparing to auction off a significant share of them, and Gooding & Company, the auction house handling the sale, has just released the full list. We got our first look at some of them a couple of weeks ago, including a 550 Spyder, a 356 Speedster, and a 911 IROC RSR – all of them valued in the millions. But that's only the tip of the proverbial iceberg. Other Porsches from the Seinfeld collection set to cross the auction block include a 917/30 Can-Am Spyder, a 718 RSK, a Carrera GT prototype and a 962C racer. There are old and new 911s aplenty, a handful of 356s, even a 597 Jagdwagen and a couple of 1960s VWs thrown in for good measure. You can scope out the full list in the press release below and view some of them in the gallery above. And if you have the funds and the inclination, Amelia Island will be the place to be next month. Here's hoping it all works out better for the proud new owners than that time George thought he had bought Jon Voight's Chrysler LeBaron. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Gooding & Company Reveals the Complete List of Collector Cars To Be Offered from Jerry Seinfeld's Collection at the Amelia Island Auction Porsche Highlights from Jerry Seinfeld's Collection Include the 1973 Porsche 917/30 Can-Am Spyder and the 1959 Porsche 718 RSK SANTA MONICA, Calif. (February 5, 2016) – Gooding & Company, the auction house acclaimed for selling the world's most significant and valuable collector cars, is honored to announce the full selection of consignments from The Jerry Seinfeld Collection to be sold at the Amelia Island Auction on March 11, 2016. Enthusiasts and collectors will not want to miss this historic event as these superb examples cross the auction block. "Mr. Seinfeld is recognized throughout the world as having acquired one of the finest Porsche collections ever assembled," said David Gooding, President and Founder of Gooding & Company. "He has become known as the definitive Porsche connoisseur based on his passion and devotion to the marque. We at Gooding & Company share his reverence for Porsche and are proud to offer these truly incredible examples.

Porsche drops factory FIA GTE Pro racing program for 2016

Porsche has a wide-ranging motorsports program in store for next season, but it won't defend its title in the GTE Pro class of the FIA World Endurance Championship. This according to the road-map it laid out over the weekend at its Night of Champions year-end gala in Weissach. The German automaker enjoyed a massively successful racing season this year. With the 919 Hybrid, it took top honors for both drivers and manufacturers, winning the 24 Hours of Le Mans outright along with five additional races on the eight-round calendar to take both the drivers' and manufacturers' titles. With the 911 RSR, it also won the World Endurance Cup for GT Drivers and for Manufacturers, locking out the bragging rights in the GTE Pro category. Rather than return to defend its two GTE Pro titles, Porsche's GT racing department is essentially taking the year off. Reigning champion Richard Lietz and teammate Michael Christensen will have the opportunity to defend his title, but instead of a GTE Pro ride, they will drive for the Proton Dempsey team in the GTE Am category. They'll be joined at Le Mans by Wolf Henzler and at select points by Patrick Dempsey. That'll still put them in contention for the World Endurance Cup for GT Drivers, but without a works entry from the factory, Porsche will be out of the running for the GT manufacturers' title. The reason behind the rearrangement of its WEC GT program, according to Autosport, is to allow Porsche to focus on development of the next generation of sports racers. It's been the better part of three years since Porsche introduced the current 911 RSR, and though its performance in this year's championship clearly shows that it remains competitive, the thorough trouncing it received at Le Mans from the likes of the Corvette C7.R, Ferrari 458 Italia GT2, and Aston Martin V8 Vantage GTE show that it's not invincible. The all-new model is expected to be based on the latest generation of turbocharged 911s, to replace the current RSR. Over on this side of the Atlantic, Porsche still intends to defend its title in the GT class of the IMSA SportsCar Championship, where the Porsche North America team will field two 911 RSRs. One will be driven by defending champion Patrick Pilet and reigning Le Mans winner Nick Tandy (joined in the longer races by former McLaren factory driver Kevin Estre).