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Porsche says next Cayenne will be faster than Bentley Bentayga

Bentley and Porsche are both high-end marques under the same umbrella, and may even be collaborating on development of new models – but while they tend to take different approaches and go after different customers, that doesn't mean they can't share a bit of sibling rivalry. And that spirit of competition – even within the Volkswagen Group – looks to be coming to a head in the form of their upcoming luxury performance crossovers. For his part, Bentley CEO Wolfgang Durheimer promises that the brand's upcoming Bentayga sport-ute will (in its top spec with the W12 engine) be the fastest SUV on the market. But in speaking with Car and Driver, Wolfgang Hatz – who holds the Porsche R&D head office that Durheimer used to occupy – says the Bentley won't be king for long. Porsche just released the new Cayenne Turbo S in Detroit, touting it as the first SUV to crack the eight-minute barrier at the Nurburgring. And Hatz says that the next version will be even faster. "Our Cayenne is always very very quick. It is doing 300 km/h [186 mph]. I think if [Durheimer] is doing 2 to 3 km/h more, then why not? He's doing that with a 12-cylinder. Our car will be much quicker on the road." The next Cayenne is slated to use a new generation of engines, and according to Hatz, will benefit from the same (if not more) weight loss as the new Audi Q7 with which it will share its platform. That sounds like a winning combination to us. That is, at least, for fans of performance crossovers. For those who aren't, Porsche promises it won't be bolstering its lineup with any new ones. Apparently the Cayenne and the smaller Macan are enough. Nor will Zuffenhausen slot anything bigger than a V6 into the Macan, according to the report. While Porsche's baby crossover will surely continue to get faster with new iterations, the Cayenne will always remain the performance flagship of its SUV range. Featured Gallery 2015 Porsche Cayenne Turbo S News Source: Car and Driver Bentley Porsche Crossover SUV Performance bentley bentayga porsche cayenne turbo s

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.