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$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.

Hyundai, Porsche top J.D. Power APEAL study

Just as they did in the Initial Quality Study, Porsche and Hyundai have taken the premium and non-premium crown, respectively, for the 2014 J.D. Power APEAL study. This is the tenth consecutive year for that Porsche has been rated the best premium make in the APEAL study, which attempts to figure out how pleased owners are with their purchases. For 2014, it asked 86,000 owners of MY2014 cars to rate their vehicles in 77 different categories 90 days after their initial purchase. The resulting figures were plugged in deliver the APEAL score, which is rated on a 1,000-point scale.
The industry average sits at 794 points for 2014, although that's a one-percent decline over last year's rating. In this year's study, premium brands averaged 840 out of 1,000, while non-premium makes average 785. For their part, Porsche netted an impressive 882 points, while Hyundai earned an 804. Interestingly, only four non-premium brands (Hyundai, Ram, Volkswagen and Mini) finished above the industry average for 2014.
It's also interesting to see the clear delineation between premium and non-premium brands, with an eight-point gap between the non-premium champ, Hyundai, and the lowest-rated premium brand, Volvo.

2014 Porsche 911 Targa takes its crop-top off in Motor City

Back in 1965, Porsche invented the 911 Targa as a matter necessity. Believing that a finicky National Highway Traffic Safety Administration was prepared to outlaw convertibles, the innovative automaker created the half-open car as a way to keep wind rushing through owners' hair. Though far removed from those formative days, it seems as though the 2015 Porsche 911 Targa has come to the Detroit Auto Show with a new-school version of some old-school tech.
While the last Targa featured a trick sliding glass roof at the touch of the button, the new car dramatically swallows a traditional-looking panel via an exceptionally complex-looking mechanical operation. The net result is "the same fun factor and freedom" that can be had with a complete convertible, though with slightly more open-driving protection while underway.
And, as is the case with all of the current 911 range, getting underway can be done with reasonable rapidity. The entry-level Targa 4 rocks a 350-horsepower, 3.4-liter flat-six engine just behind the rear axle, making that car good for 175 miles per hour at the top end (with the seven-speed manual, 174 mph with PDK) and a 0-to-60 sprint of 4.6 seconds. The Targa 4S, meanwhile, offers 400 horsepower from 3.8-liters of boxer six, runs to 60 in 4.2 seconds and hits a top "track speed" of 183 mph.