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Porsche hybrids come up short at Le Mans

Two cars, one finish, zero victories. That's a brief synopsis of Porsche's hybrid-vehicle performance in the 24 Hours of Le Mans race in France. There's always next year. Porsche entered two 919 Hybrid vehicles in the race. The No. 14 car essentially limped to the finish line after encountering drivetrain problems. The other Porsche hybrid, No. 20, was driven by Germany's Timo Bernhard, New Zealand's Brendon Hartley and Australia's Mark Webber. That car ran for more than 22 hours before its own powertrain issues did that racing team in for good. Both vehicles ran towards the front of the pack at times during the race, and the No. 20 car actually led the race after about 20 hours. Still, both teams said they were disappointed in the results. Porsche sister company Audi came up big for the 13th time in the race's long and storied history. One Audi R18 E-Tron Quattro won the race, while another finished second. The Toyota that had pole-position and was winning much of the race shut down after 15 hours of racing because of electrical issues and Nissan had trouble with is ZEOD RC. Check out Porsche's press release below, and read here for a more general race recap. STRONG PERFORMANCE BY PORSCHE 919 HYBRIDS BUT NO DREAM ENDING IN PROTOTYPE RETURN TO LE MANS Le Mans. After a strong performance by both Porsche 919 Hybrids, the Porsche Team was left empty-handed after a dramatic final stage of the race. Following more than 22 hours, car No. 20 driven by Timo Bernhard (Germany), Brendon Hartley (New Zealand) and Mark Webber (Australia) suffered a powertrain problem at the world's most famous endurance race, the 24 Hours of Le Mans. Earlier in the race the LMP1 class car was leading overall for a significant period of time. The second innovative and highly complex prototype – in the hands of Romain Dumas (France), Neel Jani (Switzerland) and Marc Lieb (Germany) – likewise proved to be very competitive, but was hampered by a drivetrain problem. However, their No. 14 car crossed the finish line under its own power. After a thrilling start to the race with changing weather conditions, numerous accidents and a relatively calm night, Bernhard took the overall lead in the No. 20. The longtime Porsche factory driver returned to the top spot after 20 of the 24 hours. At 12:36 (CET) on Sunday, he handed the leading car over to Webber. Less than 20 minutes later the Australian was forced to slow down and drove solely on electric power back to pit lane.

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

Le Mans-winning Porsche 956 up for auction at Pebble Beach

Collectors looking to get their hands on a piece of racing history will want to be in Monterey this August. That's where Gooding & Company will be auctioning off the genuine Le Mans winner you see here. One of the finest examples of the Group C era, this 1982 Porsche 956 won the 24 Hours of Le Mans in 1983 – the eighth time the German marque won the legendary French endurance race, en route to the record seventeenth win it racked up at La Sarthe this year. This 956 was the third of only ten examples made, complete with Rothmans livery and unimpeachable history. It debuted at Le Mans in 1982, where it placed second behind another Rothmans-liveried 956, and went on to win the next four races it entered. The following year, the two Porsches switched places in the winner's circle at Le Mans, securing this car's place in the annals of racing history. Now set to cross the auction block at the Pebble Beach Concours d'Elegance, Gooding projects this most historically significant Porsche to fetch between $7,000,000 and $9,000,000 once the gavel drops. According to the Sports Car Market database, that would make this the most valuable Porsche ever sold at auction, eclipsing the 1972 Porsche 917/10 Can-Am racer that Mecum sold for $5.83 million in Monterey three years ago. It would also far exceed the ˆ2.35 million ($3.15m) paid at RM's auction in Paris last year for another Rothmans-liveried 956 that completed the 1-2-3 finish at Le Mans in '82. That is, assuming 956 #003 sells this time: the last time it crossed the auction block, it failed to sell after a high bid of $2 million. Le Mans-Winning Rothmans Porsche 956 Roars its Way to Gooding & Company's Pebble Beach Auctions SANTA MONICA, Calif. (June 19, 2015) – Gooding & Company, the official auction house of the Pebble Beach Concours d'Elegance®, is thrilled to announce the addition of one of the most important and desirable competition cars of all time to its Pebble Beach Auctions. The 1982 Porsche 956, chassis 003, was the outright winner of the 1983 24 Hours of Le Mans and the most successful example of this revolutionary and dominating series of Group C cars. The sale of this factory Porsche racing machine presents an incredible opportunity to own a significant piece of motorsport history and it is sure to be a highlight of Gooding & Company's internationally renowned auction, taking place on August 15 and 16, 2015 in Pebble Beach, California.