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Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.

Porsche 718 Cayman gets new turbocharged engines

When Porsche revealed the new 718 Boxster, it appeared a matter of time before the Cayman would receive the same treatment. That time has come. The Cayman is like the 718 Boxster, but with a fixed roof, and both models are now aligned under the same number plate. The biggest change over the outgoing Cayman is the arrival of turbocharged power. In place of the 2.7- and 3.4-liter atmospheric boxer sixes in the previous model, the new 718 Cayman offers a choice of turbo fours: a 2.0-liter unit in the base model good for 300 horsepower, and a 2.5 in the S version with 350 hp on tap – just like in the latest Boxster. Smaller, both the new turbo engines bring increases of 25 hp over the naturally aspirated engines they replace. Torque goes up along with it – by 67 pound-feet in the base model to 280, and by 37 lb-ft in the Cayman S to 309. The extra muscle translates to a 0-to-60 time as low as 4.5 seconds for the 718 Cayman, or 4.0 flat for the 718 Cayman S, with top speeds clocked at 170 and 177 miles per hour, respectively. Of course, there's more to the new 718 coupe than what can be found under the engine bay. Porsche has retuned the suspension, tightened the steering rack, widened the rear wheels, and enlarged the brakes. It's all wrapped in new bodywork and operated from a refreshed interior. US deliveries are set to commence in November, with prices starting at $54,950 (including the destination fee) for the base model and $67,350 for the S model. Those are just starting points, with key options like the Sport Chrono pack, torque vectoring, and active suspension promising to inflate those figures as rapidly as the new Cayman will cover ground. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Poised for precision: The new 2017 Porsche 718 Cayman Mid-engine sports coupe with new turbocharged flat-four cylinder engines and enhanced suspension Atlanta, Georgia. Today Porsche announces the new 718 Cayman models. Following the debut of the new 718 Boxster, the new 718 Cayman complements the roadster in the mid-engine model line-up. This third generation of the mid-engine sports coupe has a more striking and athletic appearance, and for the first time, the coupe is priced below the roadster. The new turbocharged flat-four cylinder engines from the 718 Boxster power the 718 Cayman, making the power output identical for both models.

Porsche reveals new 911 GT3 R at the Nurburgring

On any given weekend, you're bound to find gaggles of Porsche 911s zipping around most any race track. Now Porsche has revealed its latest competition model at no less fitting a location than the Nurburgring. The new 911 GT3 R replaces the existing version, slotting in below the 911 RSR. It's based closely on the road-going 911 GT3 RS, and retains the same 4.0-liter naturally aspirated flat-six with direct injection and variable valve timing, but tuned to deliver over 500 horsepower, transmitted to the rear wheels through a six-speed sequential paddle-shift gearbox and mechanical limited slip differential. The wheelbase has been stretched over three inches for better weight balance compared to the outgoing GT3 R, further optimized by more lightweight components and a central radiator to lower the center of gravity. The lightweight bodywork is made of aluminum, steel, and carbon fiber, and for the first time all of the glass (including the windscreen) has been replaced by plexi. Stopping power is provided by six-piston aluminum monoblock calipers gripping 380-millimeter steel discs up front, with four-piston calipers and 372-mm discs at the back. The safety fuel cell can now hold 120 liters of fuel with a cut-off safety valve, the doors and windows can be removed, and the escape hatch is bigger, too. All of this adds up to the promise of a more competitive GT3 R ready to take on the competition, available to privateer racing teams from December for 429,000 euros before tax – working out to about $487k at current exchange rates. World premiere at the Nurburgring Lighter, more economical, faster: the new 911 GT3 R Stuttgart. Based on the 911 GT3 RS production sports car, Porsche has designed a customer sport race car for GT3 series around the world: The 911 GT3 R. In developing the more than 368 kW (500 hp) racing nine-eleven, special attention was paid to lightweight design, better aerodynamic efficiency, reducing consumption, improved handling, further optimised safety as well as lowering service and spare parts costs. Adopted from its production sibling, the 911 GT3 R features the distinctive double-bubble roof, and the wheelbase which had been lengthened by 8.3 centimetres compared to the previous generation. This ensures a more balanced weight distribution and more predictable handling particularly in fast corners corners in comparison to the previous GT3 R.