1991 Porsche 911 Convertible on 2040-cars

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Preserving automotive history costs big bucks

$1.8 million is spent each year to maintain GM's fleet of 600 production and concept cars.
When at least two of the Detroit Three were on the verge of death a few years back, one of the tough questions that was asked of Ford, General Motors and Chrysler execs - outside of why execs were still taking private planes to meetings - was why each company maintained huge archives of old production and concept vehicles. GM, for example, had an 1,100-vehicle collection when talk of a federal bailout began.

Porsche's former CEO Wiedeking to stand trial over VW-share manipulation

Former Porsche CEO Wendelin Wiedeking (left in the above photo) could potentially be facing some time in the slammer after all. The last we had heard, he and former Chief Financial Officer Holger Haerter (right) had avoided a trial in April due to a lack of evidence. However, an appeals court in Stuttgart has looked at the case again and overruled the earlier decision, finding that the executives should be tried for share manipulation during Porsche's failed attempt to take over Volkswagen in 2008, Bloomberg reports.
The judges in the appeal "list numerous indications that could suggest that there was a hidden decision to increase the stake as they could suggest the opposite evaluation by the lower court," said Stefan Schueler, a spokesperson for the court, in a statement cited by Bloomberg. Wiedeking and Haerter put out their own releases saying that there was no merit to the charges.
The prosecutors allege that Wiedeking and Haerter had a plan to buy up VW stock options in 2008 to take the automotive giant over but hid it from investors. The whole thing was a massive failure and eventually allowed VW the chance to acquire Porsche and forced the two execs to step down. In addition to the criminal investigation, hedge funds have attempted to sue the company multiple times in civil court for the same reason, but they have repeatedly failed.

Next Porsche Cayman and Boxster to be called 718?

Porsche has spent a few years sorting out its strategy away from the 911 and its crossovers, among the moving targets being the now-moribund Ferrari-fighting 960, the still-very-much-alive variant(s) coming with the next-generation Panamera, and what appears to be a puissant Cayman that could be called the GT4. Earlier this year there were rumors that a flat-four engine would join the Stuttgart maker's lineup, and that it could go into a roadster called the 718 that would undercut the current $51,400 price of the Boxster, and the Boxster would go upscale, leapfrogging the $52,600 price of the Cayman. Then Porsche turned out the lights on the 718 project, its R&D head telling Autocar, "We have a very good entry point to the range with the Boxster, and we see no reason to go below that." But Automobile reports that while the 718 roadster is dead, the 718 name will live: a la the 911, a new 718 range will encompass coupes and convertibles spanning a wide performance envelope. The suggestion is that the Boxster and Cayman names will be retired. According to Automobile, this will give Porsche a place to put its flat-four engine, into entry level models that – countering Porsche's earlier statement – "come in at a significantly lower price than" the present Boxster. Two displacements are expected, in three outputs: a 2.0-liter with 285 horsepower, a 2.5-liter with 360 hp and a turbocharged version with 400 hp. It's also been speculated that the engine could power an entry-level Macan. It's been reported before that Porsche wants to make use of the 718 name to promote its motorsport heritage, that model having carried Stirling Moss to victory among its many racing triumphs. If it happens, even though Automobile calls it part of "a slight perspective shift," we think it'll be a big shift for the two popular models, but it's not like we haven't had time to get ready. We're told the new moniker will be introduced in 2016 as a 2017 model. News Source: Automobile via World Car Fans Porsche Convertible Coupe porsche 718