Premium Plus Package 22" Wheels Panoramic Roof Umber Metallic on 2040-cars

Auto blog

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."

Gemballa reveals new Porsche 991-based GT convertible

Gemballa went through the ringer last year, but rebounded with products that signal a complete turnaround. The latest is the recently-released Porsche 911 Carrera S with a Gemballa GT aerodynamics and technology package. Aero-wise, it includes carbon fiber additions beginning with a front bumper wearing the classic Gemballa air intake design and a lower, angrier splitter. New side skirts run from wheel to wheel, the final piece being a rear bumper in three sculpted horizontal sections featuring a rear diffuser tucked between six rectangular exhaust tips.
No engine mods have been made, but the technology part of the tune - springs that are 30 millimeters shorter yet still able to work with the PASM system - is claimed to make the car faster. Bringing things to a halt is a new Brembo brake system hiding behind 21-inch GForged wheels that are lighter than Porsche's standard 20-inchers.
The Gemballa GT aero kit runs €19,860 ($26,070 U.S.), which includes paint and installation if you happen to be in Germany, and we're assuming that includes the suspension modification, brakes and sport exhaust. The GForged wheels are another €9,895 ($12,989 U.S.) depending on your choice of tire. Check out the press release below for more info, and the photo gallery above for all the angles.

These are the cars with the best and worst depreciation after 5 years

The average new vehicle sold in America loses nearly half of its initial value after five years of ownership. No surprise there; we all expect that shiny new car to start depreciating as soon as we drive it off the lot. But some vehicles lose value a lot faster than others. According to data provided by iSeeCars.com, trucks and truck-based sport utility vehicles generally hold their value better than other vehicle types, with the Jeep Wrangler — in both four-door Unlimited and standard two-door styles — and Toyota Tacoma sitting at the head of the pack. The Jeep Wrangler Unlimited's average five-year depreciation of 30.9% equals a loss in value of $12,168. That makes Jeep's four-door off-roader the best overall pick for buyers looking to minimize depreciation. The Toyota Tacoma's 32.4% loss in initial value means it loses just $10,496. The smaller dollar amount — the least amount of money lost after five years — indicates that Tacoma buyers pay less than Wrangler Unlimited buyers, on average, when they initially buy the vehicle. The standard two-door Jeep Wrangler is third on the list, depreciating 32.8% after five years and losing $10,824. Click here for a full list of the top 10 vehicles with the least depreciation over five years. On the other side of the depreciation coin, luxury sedans tend to plummet in value at a much faster rate than other vehicle types. The BMW 7 Series leads the losers with a 72.6% drop in value after five years, which equals an alarming $73,686. BMW's slightly smaller 5 Series is next, depreciating 70.1%, or $47,038, over the same period. Number three on the biggest losers list is the Nissan Leaf, the only electric vehicle to appear in the bottom 10. The electric hatchback matches the 5 Series with a 70.1% drop in value, but since it's a much cheaper vehicle, that percentage equals a much smaller $23,470 loss. Click here for a full list of the top 10 vehicles with the most depreciation over five years.