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Porsche Australia price cuts in excess of $36,000 irks customers

Have you ever gone to the store, only to become irked after learning that the new [*insert widget here*] that you bought just last week has gone through a price drop? If you're particularly thrifty, even if it's only a couple of bucks, you probably brought in your receipt to see if the store would issue you a credit for the difference. Now, imagine that the widget in question isn't a minor purchase, it's a Porsche - and the price drop isn't just a few bucks - it's thousands.
That's the unhappy scenario that recently faced a number of Australian luxury car buyers and the uncomfortable conversation awaiting the German automaker. According to GoAuto, Porsche Australia recently whacked up to $36,000 off the price of its models in order to jumpstart sales Down Under - the Panamera range itself saw cuts between $5,500 and more than $36,000. The aggressive price cut was a strategy designed to drive sales of more than 3,000 cars locally, a yearly goal originally set for 2018, but now hoped for as early as 2016.
Australia is known for its comparatively high car prices, so the dramatic price cuts were undoubtedly welcome news to potential Porsche shoppers. However, around 50 existing customers were understandably agitated by the reductions because they purchased their cars just before the adjustments took effect. Not only did they stand to lose out on the deals, they also had good reason to fear that their new cars' residual values would take a beating.

McLaren P1 vs Porsche 918 vs Ducati 1199 Superleggera in epic standing-mile drag race

We live in a high-tech supercar renaissance, with the Porsche 918 Spyder, McLaren P1 and Ferrari LaFerrari all duking it out for performance supremacy. All three members of this power trio place the engine behind the driver and use some kind of hybrid assist. However, each one finds a slightly different way to make that setup work. While all of the tech is insanely cool, let's just admit that we are all really wondering which one is the quickest and which is the fastest. Autocar aims to find out in a new video pitting two of them against a surprise challenger in the standing mile.
Unfortunately, the race is missing the Ferrari, despite Autocar's best efforts. So instead, it has another limited-edition, high-performance vehicle from Italy in the form of the Ducati 1199 Superleggera. The bike has just two cylinders, but at 1.2-liters of displacement, it makes over 200 horsepower, and all that gumption is packaged into a magnesium monocoque body with carbon fiber bodywork to keep weight low. Granted, the cycle is going up against the 875-hp Porsche and 903-hp McLaren, but traction, aerodynamics and gearing all play a part in this fascinating video.
There's no sense in ruining the winner before watching, but Autocar teases that the finish is one of its closest drag races ever. Check out the video to find out just what that means.

Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.