2014 Panamera, 3.6l V6 Pdk, Premium Pkg, 20 Inch Turbo Ii Whls,108 Mil,1.49% Fin on 2040-cars

Auto blog

$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Porsche celebrates Le Mans return with Martini edition 911

If we've said it once, we've said it a hundred times - but we'll gladly say it again: there are few racing liveries as iconic as Martini. And while those stripes have adorned countless Lancia and Ford rally cars, grand prix racers (like the latest Williams) and even speedboats, they remain inexorably tied to Porsche. Fortunately that point is not lost on Porsche itself, which has lately put them on its own 918 Spyder, race-spec 911 and all manner of merchandise. And this is the latest.
To celebrate its return to Le Mans this year, Porsche Exclusive is offering this special Martini Racing Edition. It's based on the 911 Carrera S, which means the more potent 3.8-liter flat six with 400 horsepower, but upgrades, as you might have guessed, with a whole mess of Martini Racing stripes and logos, along with the Aerokit Cup front and rear spoilers. The badges and stripes abound inside as well, where you'll also find such optional extras as the Porsche Communication Management system, Bose audio and black leather electric sport seats.
Porsche is offering the 911 Carrera S Martini Racing Edition in either white or black, but unfortunately not in our market - just in Europe, China and Latin America. Those who miss out will (in certain markets anyway) be able to order the decal set separately though. Feel free to read more in the press release below.

Volkswagen reportedly to name Matthias Muller CEO

Porsche chief executive officer Matthias Muller is expected to be named CEO of Volkswagen AG, the Wall Street Journal and other sources reported Thursday morning. Muller, 62, has led Porsche since Oct. 1, 2010, and jumpstarted the sports-car brand's expansion around the world. He replaces Martin Winkerkorn, who stepped down Wednesday amid the company's worsening diesel scandal. At least three more executives are also expected to be fired, including Volkswagen's US chief and the heads of Audi and Porsche research and development. Both brands are divisions of VW. A US spokesman wouldn't confirm the reports. An official announcement is expected at VW's board meeting on Friday. Muller's ascension caps a stunning week of turmoil for Volkswagen, which manipulated software to make its diesel-powered vehicles appear cleaner during testing that they are in real-world driving. The charges were revealed last week by the EPA, which cited the work of researchers at West Virginia University. About 482,000 vehicles are affected in the United States, which will be subject to recall, and VW estimates about 11 million of its vehicles around the world have the rigged software. The well-regarded Muller was viewed as a front-runner for the job even before Winterkorn stepped down. Before helming Porsche, he oversaw all vehicle projects globally for VW from 2007-2010. Previously, he was in charge of the Audi and Lamborghini product lines, and earlier in his career was responsible for the Audi A3 program in the 1990s. He joined Audi in 1977. He's trained as a toolmaker and studied information technology in Munich. His last name is sometimes spelled Mueller in English. Muller faces immediate challenges as he takes over VW's sprawling 78-year-old industrial empire, including recalls and regulatory actions around the world. In the US alone, the company faces a fine of up to $18 billion. VW, an industrial symbol of Germany, is also far larger than any unit Muller has run in his career. While Porsche sold 189,849 vehicles in 2014 globally, it's one of many VW brands. Collectively they sold 5.04 million vehicles through the first six months of this year, making Volkswagen the world's largest automaker. Related Video: