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German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit

Porsche planning something track-focused for Geneva [w/poll]

At the 2015 Geneva Motor Show next month, Porsche has confirmed that it will be showcasing two potentially exciting new models: One is the new Cayman GT4 we've already seen, but we don't know what the other will be just yet. All the German automaker is saying at the moment is that, "the second new model is another exceptional Porsche that sets new standards on the racetrack" and that "this vehicle confirms the sports car manufacturer's commitment to high performance sports cars that manage a very special link between everyday driving and motorsports." Given those two statements, we can probably rule out a crossover or sedan at one end of the spectrum or a purely competition-spec racer at the other. The likelihood is, then, that Porsche's surprise for Geneva will be the new 911 GT3 RS. But then it could be the Boxster-based convertible counterpart to the Cayman GT4 (whether dubbed Boxster GT4, Boxster Spyder or something else), or even a track-tuned version of the 918 Spyder to take on the McLaren P1 GTR and Ferrari FXX K. We'll just have to sit tight to find out, but you're welcome to read the press release below and tell us what you think Zuffenhausen has in store for us at the Swiss expo this year. Double world premiere at the Geneva International Motor Show 2015 Porsche shows two new high-performance cars for the first time Stuttgart. Dr. Ing. h.c. F. Porsche AG is celebrating the world premiere of two extreme sports cars at this year's Geneva International Motor Show. The new Cayman GT4 is the first high-performance sports car belonging to the GT family that is based on the mid-engine coupes. Clocking a lap time of seven minutes and 40 seconds on the North Loop of the Nurburgring, the new entry-level model makes a great debut. The second new model is another exceptional Porsche that sets new standards on the racetrack. The world premiere will take place during the Porsche press conference at the Palexpo Arena in Geneva at 11:30 (CET) on March 3, 2015. A live webcast will be available in German and English on: http://porsche.gomexlive.com/. This vehicle confirms the sports car manufacturer's commitment to high performance sports cars that manage to make a very special link between everyday driving and motorsports. These two premieres continue Porsche's tradition of presenting motorsport highlights at the spring car show on the shores of Lake Geneva. The 911 GT3, 918 Spyder and 919 Hybrid all celebrated their debuts in Geneva in recent years.

Porsche bringing Macan S Diesel to US instead of 4-cylinder [w/poll]

When Porsche unveiled the new Macan at the LA Auto Show, it announced two powerplants for the US market, both of them twin-turbo V6s: the Macan S equipped with 340 horsepower from its 3.0-liter engine, and the Macan Turbo with 400 horses from 3.6 liters. But those aren't the only engines Porsche will offer in its new compact crossover. Porsche is also offering the Macan S Diesel overseas with 258 hp, and reports have since indicated that a pair of four-cylinder models on their way: a 2.0-liter turbo four with 280 hp and four-pot turbodiesel of the same capacity with an as-yet undisclosed output.
Now Car and Driver is reporting that while those four-cylinder engines won't be making the transatlantic voyage to our shores, Porsche will offer the aforementioned Macan S Diesel in North America beginning in early 2015, nearly a year after the gas V6 versions arrive.
The 3.0-liter turbodiesel V6 is based on the same engine found in the Cayenne Diesel and the Audi Q5 TDI on which the Macan is based. Of course, its 248 hp is substantially less than the 340 ponies in the Macan S, but its 413 pound-feet of torque outshines not only the 339 lb-ft in the Macan S but also the 406 lb-ft in the Macan Turbo. Acceleration times, however, suggest the Macan S Diesel is still slower, with a 6.3-second run to 62 mph than neither the Macan S (5.4 sec) or Macan Turbo (4.8). The good news is that the Macan S Diesel is tipped to undercut the price of both, dropping the oil-burning crossover's MSRP below that of the $49,900 starting price for the Macan S and the $49,600 for the base Cayenne. If that C/D prediction comes to pass, that will make it the Macan S Diesel most affordable Porsche sold.