Custom Porsche 996 Turbo 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.

2015 Porsche Macan S

I'd be willing to bet that 99 percent of all Porsche Macan owners will never take their vehicle on a track or see any more off-roading than a dirt path to a summer cottage, yet I maintain that there is no better venue to explore the absolute outer limits of the automaker's newest small family transport than on a racing circuit and an off-road course. It's testing at each extreme of the vehicle's operating envelope, with both challenges requiring very different capabilities. With that in mind, and looking forward to dirty floor mats and corded tires, I jumped at the opportunity from Porsche to wring out its new Macan S at Willow Springs International Raceway, located in Southern California's high desert.
The range-topping Macan Turbo (base price $72,300 plus $995 destination), with its 400 horsepower twin-turbocharged 3.6-liter V6 gets most of the glory these days. But many, including myself, would argue that its slightly less powerful sibling, the Macan S, is actually the pick of the new litter. Despite having 60 fewer horses under the hood and giving up six-tenths of a second in the sprint to 60 miles per hour, it costs a massive $22,400 less - money better spent on equipment that improves the crossover's ride comfort and capability, or perhaps a well-used Boxster for weekends.
Despite a reasonably attractive starting price of $49,900 (plus destination), very few Porsche buyers will leave the showroom with a base model. My Dark Blue Metallic Macan S tester was equipped with a slew of mechanical upgrades, including air suspension with Porsche Active Suspension Management (PASM), Porsche Torque Vectoring Plus (PTV Plus), Sport Chrono Package and 21-inch 911 Turbo Design wheels. A Premium Package and a few other miscellaneous options bloated its price to $69,870. That's a very steep price for the premium compact crossover segment, but it's still less than a base Macan Turbo.

Porsche Australia price cuts in excess of $36,000 irks customers

Have you ever gone to the store, only to become irked after learning that the new [*insert widget here*] that you bought just last week has gone through a price drop? If you're particularly thrifty, even if it's only a couple of bucks, you probably brought in your receipt to see if the store would issue you a credit for the difference. Now, imagine that the widget in question isn't a minor purchase, it's a Porsche - and the price drop isn't just a few bucks - it's thousands.
That's the unhappy scenario that recently faced a number of Australian luxury car buyers and the uncomfortable conversation awaiting the German automaker. According to GoAuto, Porsche Australia recently whacked up to $36,000 off the price of its models in order to jumpstart sales Down Under - the Panamera range itself saw cuts between $5,500 and more than $36,000. The aggressive price cut was a strategy designed to drive sales of more than 3,000 cars locally, a yearly goal originally set for 2018, but now hoped for as early as 2016.
Australia is known for its comparatively high car prices, so the dramatic price cuts were undoubtedly welcome news to potential Porsche shoppers. However, around 50 existing customers were understandably agitated by the reductions because they purchased their cars just before the adjustments took effect. Not only did they stand to lose out on the deals, they also had good reason to fear that their new cars' residual values would take a beating.