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Porsche sells final 918 Spyder amidst excellent year of sales

2014 has been a banner year for Porsche, as the company has moved over 169,000 units through November, an increase of around 12,000 units over the same period in 2013. During last month alone, the company's sales saw a year-over-year jump of 25 percent. The European market, meanwhile, saw an 18-percent jump in sales, while its North American efforts have jumped 13 percent. "This strong November is evidence that our strategy is working extremely well," Porsche board member Bernhard Maier said in the accompanying statement. "It also confirms our commitment to taking advantage of every opportunity presented in the global markets." Those notable sales gains aside, this latest sales report comes with some bad news for the overwhelming majority of Porsche fans – the last 918 Spyder has been sold. All 297 cars have been spoken for, with US deliveries set to begin soon. According to Porsche, there are currently around 100 Spyder owners spread across Germany and China. Porsche exceeds previous year's sales by November Last unit of the 918 Spyder sold Atlanta. Porsche AG increased global deliveries to customers from January to November this year to more than 169,000 vehicles, already exceeding the overall total for 2013 of 162,145 new vehicles. This represented a growth of 15 percent over the same period last year (January to November 2013: 147,290 vehicles). In the month of November, Porsche delivered 17,700 vehicles – an increase of one quarter over the same month last year. "This strong November is evidence that our strategy is working extremely well," said Bernhard Maier, Member of the Executive Board – Sales and Marketing of Dr. Ing. h.c. F. Porsche AG. "It also confirms our commitment to taking advantage of every opportunity presented in the global markets." In Europe, Porsche delivered 54,500 vehicles from January to November 2014 – an increase of 18 percent over the previous year, with the domestic German market accounting for 22,200 of the sales. The American region also showed a significant 13 percent increase over last year with a total of 51,600 deliveries. In addition, November announced the finality of sales for the 918 Spyder hybrid super sports car. With a limited run of 918 units, the majority of the cars – 297 – will be shipped from the Zuffenhausen manufactory to buyers in the USA. In both Germany and China there are already around 100 proud new owners who have taken delivery of the super sports car.

German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit

Chevy Corvette Stingray defeating rivals where it matters most

Everything is coming up roses for the award-winning Chevrolet Corvette Stingray, as new data from the North American Dealers Association dissected by GM Authority reveals that America's sports car is handily outselling two of its more expensive rivals.
Through June of 2014, the NADA notes that the Corvette has rung up 17,744 sales, handily besting the Porsche 911 and positively spanking the SRT Viper. Of course, you're sitting there thinking, "Corvette is outselling the much more expensive Porsche and Viper. Sky blue, water wet." But what's impressive here is just how thoroughly the Chevrolet is beating its two rivals, with this data serving as a testament to just how popular the seventh-generation sports car has become.
So far this year, Porsche has managed to move 5,169 911s, according to NADA. Considering that the base model starts at nearly $15,000 more than the most heavily optioned Stingray, and that Porsche owners have a vast, expensive options catalogue to select from, Stuttgart's sales are still plenty impressive in relation to the nearly 18,000 Corvettes sold.