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Porsche opening network of dedicated Classics centers

Porsche is in the process of opening a new network of service centers specifically focused on its classic cars. By 2018, the German automaker aims to have 100 such locations up and running around the world. What you're looking at here is the first. Opening this week in Gelderland – a city on the outskirts of Arnhem in the Netherlands – the first dedicated Porsche Classic Center is designed to support older vehicles from Zuffenhausen's history. That means undertaking service and maintenance, installing original parts, partially or completely overhauling of vintage vehicles – even selling classic Porsches certified by the factory. The company reports that over 70 percent of the vehicles it has ever produced are still running. That rather impressive statistic speaks to the quality of the vehicles in the first place, but also the dedication of their owners to keep them running, and the necessity for proper service and maintenance. The chain of 100 or so Porsche Classic Centers to open around the world will stem from the existing network of Porsche Classic Partners. As it is, the network includes 24 such partners around the world, principally in Europe, Asia, and Africa. Ten of those 24 are located in Germany alone. However the new network will incorporate locations in North America as well. Premiere for Porsche Classic Centre in Gelderland World's first Porsche centre for classic cars to open Gelderland/Stuttgart. The world's first Porsche Classic Centre is just about to open: from 26 November 2015, the Porsche Classic Centre Gelderland, just outside of Arnhem/Netherlands, will be offering services for classic cars of all ages from Zuffenhausen. This is the first time that service, workshop and sales exclusively for the classic sports cars have been brought together under one roof. A small number of additional certified Porsche Classic Centres are set to follow around the world and produce an even more closely knit Porsche Classic network. More than 70 per cent of the vehicles ever produced by Porsche are still running today. To ensure that these classic cars receive optimum support and overhaul facilities, Porsche is establishing an international dealer and service network with some 100 centres to reach completion by 2018. This mainly involves Porsche centres which will provide support for sports cars of earlier eras in addition to the current models and will be certified as Porsche Classic Partners.

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.

Porsche Panamera wagon won't come to America until 2018

Porsche has teased us with a wagon version of the Panamera for years now. First as the Panamera Sport Turismo concept at the 2012 Paris Motor Show, and more recently we've seen prototype spy photos of extended rooflines Panameras as well. Now Automotive News confirms that the wagon is not only in the works, but that it will be sold in North America. "We have to have some patience for [the wagon] to arrive in the U.S.," Porsche Cars North America CEO Klaus Zellmer told AN. "But we are confident that this car will be well received here, despite the fact that this country doesn't really like hatchbacks or wagons." Wagons are particularly popular in Germany, encouraging local automakers to continue developing and producing them even as they expand their crossover offerings. Only some of those make their way across the Atlantic, however. Though Audi, for example, offers Avant wagon versions of its A4 and A6 models, it brings only the latter over in ruggedized Allroad trim. Mercedes similarly offers wagon versions of the C-Class, CLA, and CLS back home, but only sells the E-Class wagon in America. And BMW keeps the Touring version of its 5 Series back home while brining over only the 3 Series wagon. Porsche is slated to reveal the new Panamera in four-door form at the Paris show in September, with the wagon version to hit the European market sometime next year. Don't expect to see the five-door model in US showrooms, then, until 2018 at the earliest.