1999 Winnebago Rialto Qd on 2040-cars

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$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.

Recharge Wrap-up: BYD sales surge, new Mazda MX-5, plug-in VW Passat

BYD has enjoyed a tremendous leap in sales since last year, according to Want China Times. Sales from January to April were ten times that of the same period last year, with much of the credit going to government subsidies for clean cars. BYD claims, though, that battery production is limiting the number of vehicles it sells, and that by increasing that production capacity, it will see even more success. BYD's Qin plug-in hybrid, introduced in December, has already sold 4,500 units with another 8,000 orders already placed. Read more here. Mazda will reveal the fourth generation of its MX-5 roadster in September. To celebrate the car's 25th anniversary, the all-new two-seat convertible will debut during simultaneous private events in Spain, Japan and the US on September 3 and 4. Furthermore, the new Miata will be the center of a more public event in Barcelona on September 6. For fans in the US, Mazda will hold a Miatas at Mazda Raceway event from September 5 to 7. The 2016 MX-5 promises to continue to offer a lightweight, balanced design for fun and efficiency. The new Volkswagen Passat will feature a plug-in hybrid version. Volkswagen confirmed the Passat PHEV for Europe at the model's unveiling at the Volkswagen Design Centre in Potsdam, Germany. The plug-in Passat uses a 154-horsepower TSI engine and an 80-kilowatt electric motor for a total output of 208 horsepower. With a full charge, it can travel up to 31 miles on electricity alone. All versions of the eighth-generation Passat use stop-start and regenerative braking. Read more at Green Car Congress. BBC warns that the costs of charging an electric vehicle in the UK could surpass those of fueling a gasoline engine. Not so fast, says The Green Car Website. While the BBC cites charging services like Charge Master introducing fees for rapid charging making it cost about as much per mile to drive as traditional internal combustion engines. The Green Car Website points out that most people usually charge at home for much less, that paying for rapid charging is still not that expensive and that the BBC article misses the point about EVs, anyway. See the BBC article here or click here to read the rebuttal. News Source: Want China Times, Mazda, Volkswagen, BBC News, The Green Car Website via Charged, Green Car Congress Green Mazda Volkswagen Green Automakers Electric PHEV recharge wrapup qin

A car writer's year in new vehicles [w/video]

Christmas is only a week away. The New Year is just around the corner. As 2014 draws to a close, I'm not the only one taking stock of the year that's we're almost shut of. Depending on who you are or what you do, the end of the year can bring to mind tax bills, school semesters or scheduling dental appointments. For me, for the last eight or nine years, at least a small part of this transitory time is occupied with recalling the cars I've driven over the preceding 12 months. Since I started writing about and reviewing cars in 2006, I've done an uneven job of tracking every vehicle I've been in, each year. Last year I made a resolution to be better about it, and the result is a spreadsheet with model names, dates, notes and some basic facts and figures. Armed with this basic data and a yen for year-end stories, I figured it would be interesting to parse the figures and quantify my year in cars in a way I'd never done before. The results are, well, they're a little bizarre, honestly. And I think they'll affect how I approach this gig in 2015. {C} My tally for the year is 68 cars, as of this writing. Before the calendar flips to 2015 it'll be as high as 73. Let me give you a tiny bit of background about how automotive journalists typically get cars to test. There are basically two pools of vehicles I drive on a regular basis: media fleet vehicles and those available on "first drive" programs. The latter group is pretty self-explanatory. Journalists are gathered in one location (sometimes local, sometimes far-flung) with a new model(s), there's usually a day of driving, then we report back to you with our impressions. Media fleet vehicles are different. These are distributed to publications and individual journalists far and wide, and the test period goes from a few days to a week or more. Whereas first drives almost always result in a piece of review content, fleet loans only sometimes do. Other times they serve to give context about brands, segments, technology and the like, to editors and writers. So, adding up the loans I've had out of the press fleet and things I've driven at events, my tally for the year is 68 cars, as of this writing. Before the calendar flips to 2015, it'll be as high as 73. At one of the buff books like Car and Driver or Motor Trend, reviewers might rotate through five cars a week, or more. I know that number sounds high, but as best I can tell, it's pretty average for the full-time professionals in this business.