2003 Porsche 911 on 2040-cars

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Robb Report chooses Porsche 911 as its Car of the Year

Robb Report has picked the seventh-generation Porsche 911 Carrera S as its 2013 Car of the Year, saying the two-door captivated its judges with "agility, driving dynamics and balance." The German coupe bested 12 others who were also in the running - the impressive list of nominees included the BMW M5, Audi S8, Ferrari FF, Mercedes-Benz SL63 AMG and the Bugatti Veyron 16.4 Grand Sport Vitesse.
Judging involved more than just throwing darts at pictures on the wall, as the publication enlisted a panel of automotive experts to test drive each vehicle for close evaluation. The panelists included 100 members of the Robb Report Club (comprised of top corporate executives and influential readers), Editor-in-Chief Brett Anderson and automotive consultant Robert Ross. Full results of the competition will be revealed in the luxury magazine's March issue, hitting newsstands in about a week. For more information, visit Robb Report online or check out the full press release from Porsche below.

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."

NHTSA closes probe into 2011 Porsche 911 coolant leaks

The National Highway Traffic Safety Administration has announced that it will end its investigation into rapid coolant loss in 24,635 Porsche 911s built between 2001 and 2011. The models affected included the standard 911, GT2, GT3 and Turbo, as well as their variants (GT2 RS, GT3 RS and Turbo S).
NHTSA was investigating for "rapid coolant loss caused by coolant pipe-fitting failure, allegedly resulting in vehicle disablement and/or loss of vehicle control due to reduced traction for the affected vehicle or following traffic," according to the regulators website. "Most of the leak complaints did not appear to involve complete separation of the fittings and many were detected when the vehicle was parked," said NHTSA's statement.
There were 63 complaints and 336 warranty claims, although the investigation was initiated after ten complaints from customers. There have been no reports of crashes or injuries attributed to rapid coolant loss.