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2017 Porsche Panamera leaked looking sporty and sleek

The Internet isn't very good at keeping secrets. Someone got hold of some images of the 2017 Porsche Panamera ahead of its official debut next week and leaked them online. While that's bad news for Porsche, it's good news for the auto-loving masses, because the next Panamera is pretty darn... pretty. While the overall shape of the next-gen Panamera doesn't stray far from the car it replaces, the details make for a more cohesive overall package than before. It's clearly a Porsche, and obviously a Panamera (look, four doors and a hatchback!), but it's no longer bulbous or ungainly. Lighting front and rear is inspired by the latest 718 models, and the sleek bulging hood is apparently hiding a twin-turbo 4.0-liter V8 engine. We expect a range of six- and eight-cylinder engines for production, along with a plug-in hybrid. Inside, the only analog gauge we see is a tachometer, helpfully placed directly in front of the driver. A quartet of digital dials flank the throwback tach, but we can't see much past that. There does appear to be a good amount of space for the rear-seat passengers, along with what looks to be a touch-sensitive control surface at the rear of the center console. We expect similar capacitive buttons for the front occupants, along with a large LCD infotainment screen. Take a look at the images above for an early glimpse at the 2017 Porsche Panamera. And stay tuned for all the details on June 28. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Porsche Panamera leaked images News Source: Motor1.com Design/Style Porsche Hatchback Luxury Performance Sedan

Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

Felicity Ace sinks with thousands of VWs, Porsches, Lamborghinis

The stricken ship Felicity Ace sank overnight after a week of salvage efforts ultimately proved unsuccessful. The ship, which was carrying up to 4,000 VW Group cars, went to the bottom unexpectedly while a salvage team was attempting to tow it to shore, Bloomberg reports.  "Initial reports from the local salvage team state that the vessel had sunk at around 9AM local time having suffered a list to starboard," Mitsui O.S.K. Lines transportation company (MOL), which owns the Felicity Ace, said in a statement released early Tuesday.    "The last vessel position was around 220nm off the Azores," MOL said. "The salvage crafts will remain around the area to monitor the situation. Further information will be provided as it becomes available." The ship sank after being battered by waves and listing 45 degrees to starboard, the ship’s operator said. “The weather was pretty rough out there,” Pat Adamson, a spokesperson for MOL Ship Management (Singapore), a unit of Mitsui OSK Lines Ltd., said by phone. “And then she sank, which was a surprise.” VW, Porsche, Audi, Bentley and Lamborghini-branded models were aboard the ship, which was headed to Rhode Island from GermanyÂ’s Emden port when the fire broke out on Feb. 16.  Rough seas and ongoing fires fueled by the lithium-ion batteries of EVs onboard delayed the ship's salvage and recovery operations for the better part of a week. While the likelihood of salvaging the smoke and potentially fire- and water-damaged vehicles from Felicity Ace's hold was slim to none, some had held out hope that their special-ordered vehicles might survive the mishap.  The Panama-flagged Felicity Ace was safely evacuated of its 22 crew members by the Portuguese navy after a fire started in its hold more than a week ago. The ship can carry up to 4,000 cars. European carmakers declined to discuss how many vehicles and what models were on board, but it appears to have been transporting approximately 2,500 cars, including roughly 1,100 Porsches and an undetermined number of Volkswagens.  The cars aboard were on order. Porsche customers in the United States were being contacted by their dealers, the company said. “We are already working to replace every car affected by this incident and the first new cars will be built soon,” Angus Fitton, vice president of PR at Porsche Cars North America, Inc., told The Associated Press in an email. The ship sank in water nearly 10,000 feet deep, the Portuguese Navy said.