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Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Pontiac Aztek enjoys rebirth thanks to Millennials

Apparently, Millennials – those between 18 and 34 – aren't afraid to look different on the road, and they like performance, too. A new study by Edmunds is discovering some surprising vehicle choices by this group. Among them, the long-derided Pontiac Aztek is getting a new day in the sun with 25.5 percent its buyers coming from this generation in the first half of 2015. For comparison, Millennials represent an average of 16.8 percent of used car purchases. The Aztek is slowly shaking its reputation as a styling abomination, which seems tied to its appearance on Breaking Bad. The show premiered in 2008, and the Pontiac has been on this list for four of the past five years, according to Edmunds. It even led the pack in 2010. A recent Retro Review from MotorWeek also showed that the crossover wasn't always so hated. While it's still a shock to see the Aztek on any popularity list, the awkward-looking crossover only ranks sixth among Millennials. The vehicle with the biggest portion of buyers from the generation is the Dodge Magnum with 27.6 percent. According to Edmunds, the bluntly styled wagon is especially popular in Detroit and Chicago. The Chrysler Pacifica comes in a close second at 27.3 percent. When it comes to used cars, value and utility appear to trump just about anything else for many Millennial buyers," Edmunds analyst Jeremy Acevedo said in the report. Young buyers aren't afraid of sporty rides, either. The Subaru WRX has 26.4 percent Millennial buyers to rank third place on the list, and the Volkswagen R32 takes fifth at 25.7 percent. Just a few points lower in seventh place is the Nissan GT-R at 25.4 percent, and the final performance machine in 10th place is the Lexus IS-F with 24.7 percent. Related Video:

2021 Mazda3 Turbo vs. VW GTI | How the hot(ish) hatches compare

For the first time since 2013, Mazda is offering a hopped-up version of its compact hatchback and sedan, the Mazda3. But instead of the rip-snorting “wild child” of yore, this new 2021 Mazda3 Turbo is designed to provide impressive performance while being mature and livable. That sounds rather like the philosophy behind the ur-hot hatch, the 2021 Volkswagen GTI. Not only that, but they have similar performance at similar prices. And having driven both fairly recently, we figured there was no better time to have a look at their specs, talk about our impressions, and show you how they compare. Performance and Driving Impressions Both the Mazda and the VW come packing turbocharged four-cylinder engines, but going deeper reveals quite a few differences. The Mazda, with an extra 500 cc of displacement, makes the most power, and far and away the most torque. Its engine has a very different character to the VWÂ’s, though. The Mazda builds boost and power in an incredibly smooth and linear manner, so much so that it almost feels like a naturally aspirated engine. ItÂ’s precise and predictable, though it does lack a certain exhilaration. The GTI has that missing exhilaration thanks to a more noticeable rush of boost once the turbo is spooled up. ItÂ’s a stronger-feeling engine than the numbers suggest, too. If you donÂ’t keep the revs up, though, youÂ’ll find the GTI feeling a little slow at first until you have full boost. Both cars have very different drivetrains. The Volkswagen has the transmission advantage with your choice of either a six-speed manual or seven-speed dual-clutch automatic. The manual is one of the better VW units with solid, snickety gates and reasonably short throws. The dual-clutch transmission offers incredibly smooth and wickedly quick shifts, but there's obviously less driver involvement. Both are a step up from the MazdaÂ’s more conventional six-speed automatic, the only option available. While it has decent shift logic, itÂ’s sluggish, particularly compared with the VW automatic. The advantage shifts when getting to the drive wheels. The Mazda features all-wheel drive, and it actively changes its torque split. It makes it easy for all that torque to get to the ground, mitigates torque steer, and helps give the car a neutral balance even under hard throttle. The GTI is only available with front-wheel drive.