Porsche 356 Speedster Replica Porsche Engine 356 Convertible D on 2040-cars

Auto blog

$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Porsche 918 Spyder recalled over bad wiring harness

An investigation of customer concerns has led to a global recall of the Porsche 918 Spyder, including 223 units in North America. The carmaker said that a carbon fiber component can damage a radiator fan wiring harness, so it is contacting owners directly to have their cars brought in for a service inspection. The issue affects cars built through the end of April 2015; cars built after that use a revised design. Dealers will remount the wiring harness, a process that should take half a day. You'll find more information in the press release below. Related Video: Porsche recalling 918 Spyder models for service inspection Precautionary recall: affected customers will be contacted directly Atlanta. Porsche has issued a global recall for 918 Spyder models that have already been delivered. This precautionary recall for a service inspection affects 223 vehicles in the United States. This is because the electric wiring harness for a radiator fan in vehicles manufactured up until the end of April 2015 could be damaged by a carbon-fiber component. The wiring harness will be examined and optimally remounted in the work shop. The cause was identified following a detailed examination of inquiries. Corrective measures have subsequently been taken in manufacturing. The owners of the affected vehicles will be contacted directly by Porsche Cars North America. The service visit, which will be free of charge, will be arranged as quickly as possible and the inspection will likely require the vehicle to be left in the shop for half a day. Featured Gallery 2015 Porsche 918 Spyder: First Drive View 51 Photos Image Credit: Copyright 2015 Porsche / AOL Green Recalls Porsche Safety Convertible Hybrid Luxury Performance porsche 918 spyder

Mercedes-AMG GT vs. Porsche 911 [w/poll]

Mercedes-Benz designed the AMG GT to compete head-on with the Porsche 911. It's a clear, singular purpose, and Benz brings a lot of money, technology and race-bred expertise to the fight.
The AMG GT is Merc's followup to the awesome SLS AMG, the retro-modern, gullwing-doored coupe that took us by storm half a decade ago. But this new GT coupe is a more focused sports car than the SLS, rather than an all out supercar capable of extreme performance. It's got a brand-new V8 engine, and state-of-the-art technology that help it to not only be a proper Mercedes, but to be a serious performer.
Mercedes will sell its new baby in two models. The GT S arrives first, in spring 2015, followed by the standard GT in mid-2016. Of course, there's room to grow from there. And while Porsche may have already expanded its 911 range to include a vast variety of models, here's how Stuttgart's icon stacks up against Affalterbach's bad boy.