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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

Studiotorino shows new Cayman-based Moncenisio sports car

While the recent bankruptcy of Bertone shows that it has become very difficult to be a coachbuilder today, it seems there is still a business case in creating unique bodies for premium vehicles. Case in point, Studiotorino a small, Italian coachbuilder that has been creating limited-edition cars since 2005. Its latest creation is the Moncenisio, which debuted as a prototype at the National Automobile Museum of Turin on March 21. It's named after the 1902 Susa-Moncenisio race in Italy, the first automotive hillclimb in the world.
The Moncenisio begins life as Porsche Cayman S, and each car will be built to order with a planned production run of 19 examples. The chassis, mechanicals and engine are all left untouched. The only thing that Studiotorino alters are the body panels and interior appointments. Prices start at at a heady 145,000 euros ($200,420 US), plus the cost of the donor vehicle.
Architect Daniele Gaglione penned the shape of the Moncenisio, taking inspiration from the 1963 Porsche 904. The sports coupes receive carbon fiber pieces that replace the front bumper, side panels and rear bumper. Studiotorino also covers the rear side windows with welded metal panels. The design is still clearly a Cayman, especially from the front, but the extended roof and support pillars create a new look from behind, which features a new exhaust treatment and rear spoiler. The interior receives leather upholstery on the engine compartment cover, the partition between the engine and seats, ceiling and A-pillars. Scroll down to view a walkaround of the Moncenisio and read the full press release about it.

Porsche has doubled US sales to women [w/videos]

Porsche is having a good sales year in the US, with 25,129 vehicles delivered year-to-date coming off the automaker's best July sales ever. That's a 31-percent increase over the same period last year (19,253 deliveries). With year-to-date Panamera sales a surprising 36 percent lower than last year, what possibly could be driving Porsche's sales surge? If you answered Cayman and Boxster sales, you're right. But dealerships are noticing another factor: more women are coming in to buy Porsches, CNBC reports, the bulk of whom picked up new Cayenne SUVs. The German automaker's sales to women in the US have more than doubled in the past two years, increasing from 7 percent to 15 percent. This has helped year-to-date Cayenne sales reach 11,082 - 31 percent higher than the same time last year.
Porsche executives have been trying to tap into the women's market, as evidenced in part by the company's move to pick professional tennis player Maria Sharapova as a brand ambassador. Porsche maintains it has not moved to dramatically change its brand image, but it has shown a number of ads in recent years that uncharacteristically emphasize its vehicles' practicality under the "Engineered for Magic. Everyday" banner - some featuring female drivers.
Be sure to watch CNBC's video report on Porsche's female movement below - you'll also find one of the aforementioned Engineered For Magic ads as well as an interesting case study video on the campaign from ad agency Cramer-Krasselt.