2000 Porsche Boxster Convertible Boxer Sports 2 Door Low Miles on 2040-cars

Auto blog

$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.

Le Mans-winning Porsche 956 up for auction at Pebble Beach

Collectors looking to get their hands on a piece of racing history will want to be in Monterey this August. That's where Gooding & Company will be auctioning off the genuine Le Mans winner you see here. One of the finest examples of the Group C era, this 1982 Porsche 956 won the 24 Hours of Le Mans in 1983 – the eighth time the German marque won the legendary French endurance race, en route to the record seventeenth win it racked up at La Sarthe this year. This 956 was the third of only ten examples made, complete with Rothmans livery and unimpeachable history. It debuted at Le Mans in 1982, where it placed second behind another Rothmans-liveried 956, and went on to win the next four races it entered. The following year, the two Porsches switched places in the winner's circle at Le Mans, securing this car's place in the annals of racing history. Now set to cross the auction block at the Pebble Beach Concours d'Elegance, Gooding projects this most historically significant Porsche to fetch between $7,000,000 and $9,000,000 once the gavel drops. According to the Sports Car Market database, that would make this the most valuable Porsche ever sold at auction, eclipsing the 1972 Porsche 917/10 Can-Am racer that Mecum sold for $5.83 million in Monterey three years ago. It would also far exceed the ˆ2.35 million ($3.15m) paid at RM's auction in Paris last year for another Rothmans-liveried 956 that completed the 1-2-3 finish at Le Mans in '82. That is, assuming 956 #003 sells this time: the last time it crossed the auction block, it failed to sell after a high bid of $2 million. Le Mans-Winning Rothmans Porsche 956 Roars its Way to Gooding & Company's Pebble Beach Auctions SANTA MONICA, Calif. (June 19, 2015) – Gooding & Company, the official auction house of the Pebble Beach Concours d'Elegance®, is thrilled to announce the addition of one of the most important and desirable competition cars of all time to its Pebble Beach Auctions. The 1982 Porsche 956, chassis 003, was the outright winner of the 1983 24 Hours of Le Mans and the most successful example of this revolutionary and dominating series of Group C cars. The sale of this factory Porsche racing machine presents an incredible opportunity to own a significant piece of motorsport history and it is sure to be a highlight of Gooding & Company's internationally renowned auction, taking place on August 15 and 16, 2015 in Pebble Beach, California.

James May's 1984 Porsche 911 is priced to sell at Goodwood

James May needs money. He's out of work, has payments to make on his Ferrari, and has resorted to doing less than stellar work to make ends meet. He and his colleague Richard Hammond sold their motorcycles to raise some extra scratch, and now Captain Slow is selling his Porsche, too. Of course, with years of paychecks form Top Gear and other TV appearances, several books, and a weekly column in The Daily Telegraph, it's unlikely that May is worried about debtor's prison. Mostly because that doesn't exist in the UK anymore, but also because he's probably loaded. The vehicle in question is a 1984 Porsche 911 Carrera, complete with air-cooled 3.2-liter flat-six. He became acquainted with the car in 2007 when he borrowed it from specialist Paul Devyea to record a Radio 4 documentary, and evidently fell in love, so he bought it. He even had it on air for a couple of specials for Top Gear and James May's Toy Stories. He loaned it to his dad for a while, but with his time on Top Gear now at an end, he's consigned it to Bonhams (the same house that handled his bike sale) to auction off at the upcoming Goodwood Festival of Speed. Its pre-sale estimate is quoted at GBP28,000-34,000 ($44-53k), which would seem a bit low – especially considering its celebrity provenance and low 55,000 miles on the odometer. Bonhams specialist Sholto Gilbertson tells Autoblog that "the estimate placed on the car has been designed to attract interest and ultimately achieve a stronger price for Mr. May."