2002 Porsche Boxter S 54k Miles on 2040-cars

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Porsche 918 Spyder burns to ground in gas station conflagration

There's one fewer Porsche 918 Spyder zipping along the roads of Toronto, Canada, today. A fire at a gas station over the weekend claimed one of the hybrid supercars in a massive blaze, and a portion of the inferno was caught on video.
According to our partners to the North at Autoblog Canada, the cause of the fire hasn't been officially confirmed yet, but witnesses reportedly claimed gasoline somehow came into contact with the hot exhaust outlets that exit out of the top of the supercar's engine bay. This was just one of two 918s believed to be in the Toronto area.
Other than a possible broken heart from the owner, the fire reportedly caused no injuries, and only the Porsche and gas pump appeared to sustain serious damage. Warning, the video of the conflagration does contain some explicit language.

Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

Preserving automotive history costs big bucks

$1.8 million is spent each year to maintain GM's fleet of 600 production and concept cars.
When at least two of the Detroit Three were on the verge of death a few years back, one of the tough questions that was asked of Ford, General Motors and Chrysler execs - outside of why execs were still taking private planes to meetings - was why each company maintained huge archives of old production and concept vehicles. GM, for example, had an 1,100-vehicle collection when talk of a federal bailout began.