2012 Cayenne S V8,premium Pkg.pasm,panorama,bose,chrono,1.99% Finance on 2040-cars

Auto blog

Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

There's a Porsche Cayman under here somewhere

What we have here is the work of Dubai tuner Royal Customs that is controversial even beyond its styling. The Middle East aftermarket house says it spent fourteen months developing a bodykit for the Porsche Cayman, and the results seem to be aimed at those who wish their coupe were a 918 Spyder - the nose, strake-filled and widened rear fender, carbon fiber wing and massive diffuser all cribbing some from Stuttgart's new hybrid supercar.
Even without a buyer, the Alpha One Concept is already controversial. When WorldCarFans posted on the Royal Customs car recently, German tuner Alpha-N Performance wrote in alleging that the Dubai package copies their design from two years ago, which was also called the Alpha One, a design with which it's clear the Dubai Alpha One shares numerous cues. We asked Royal Customs about its relationship to the Alpha One car, we were told, "Yes, there is a lot we can say about the remarkable similarities all of which will be explained by our press release by Mr. Emil from Autogespot. Please wait for the official release and you will have the full exciting story. It's an 'actual success story' and not a 'replication' story."
The response is referring to an "extensive report" on the car coming out of Autogespot. Royal Customs doesn't have the Alpha One Concept on its site yet, so we're still missing quite a few details on it, such as whether the Porsche engine has been given a similarly 918-ish workover. We do know that the company says each car takes 30 days to build and it will only build three of them, which is a number that should satisfy any haters and, even more so, its buyers. You can decide which side of the fence you're on by having a close look at it in the gallery above.

2013 Porsche 911 RSR makes official debut

Porsche is ready to go racing in 2013, showing off a new 911 RSR today that is scheduled to compete in several endurance events this year. Based on the current 991 911, the new RSR will compete in the 2013 season of the World Endurance Championship and the 24 Hours of Le Mans. It will not, however, make an appearance in a North American racing series this year.
The 2013 version of the racecar has increased in wheelbase by some four inches, features a new wishbone front suspension in place of the last-generation's McPherson strut setup and boasts a new, lightweight six-speed racing gearbox. The engine, meanwhile, is an "optimized" version of last year's car, a 460-horsepower 4.0-liter boxer six-cylinder. Extensive use of carbon fiber and polycarbonate windows help the RSR shed weight, and Porsche has also balanced the weight more evenly with a lower center of gravity.
Porsche has thoughtfully dedicated some space to celebrate the 911's 50th Anniversary, with the number 50 clearly visible in the top-down view of the RSR, as well as along the doors. Scroll down to read the full Porsche press release, below.