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Porsche gives GT3 owners extra year of warranty, new engines in production April 22

While the auto industry reels from massive recall after massive recall, Porsche has quietly been working on a fix for an issue that's forced owners of the new 911 GT3 to park their track-ready rockets for fear of an engine fire. Thanks to a leaked letter from Porsche to a GT3 owner (which has been certified as real), we now have an idea of just where the German brand is at with the fix.
On April 22, Porsche will begin production of a new batch of GT3 engines for the 785 affected models across the globe. As you'll recall, the original issue rested with a screw joint that could loosen the connecting rod. The new engines have an "optimized piston rod screw connection," that should keep the connecting rod in place. Once technical validations are completed, production will kick off and new powerplants will be shipped around the globe for owners of the troubled cars.
Porsche will hand out a certificate to owners of affected cars once repairs have been completed, as a means of documenting the work. To make up for the trouble, Porsche will be giving owners an extra year on their new-vehicle warranty, while the 911 GT3 concierge will be reaching out to compensate them for having to park their car for so long.

Porsche 911 Targa leaks out ahead of Detroit debut

With the doors of Cobo Center opening for the 2014 Detroit Auto Show this morning, Porsche is set to reveal its new 911 Targa in a matter of hours. But before it gets the chance, the first batch of images have already leaked out, courtesy of Chinese car site autohome.com.cn.
As expected, the new Targa appears to ditch the complex sliding glass roof panels that adorned recent versions of the semi-convertible 911 in favor of a more back-to-basics approach. An entirely removable roof panel opens up the sky, backed by a metallic B-pillar hoop in front of a large curved-glass rear window.
We'll have to wait just a little longer for the full scope of images and all the official details, but we're expecting the new Targa to carry most of the same technical specifications as the 991 on which it's based. Watch this space for more.

Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.