1985 Porsche 928 on 2040-cars

Auto blog

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.

Porsche 911 puts Turbos on its turbos

Distinct from the turbo-but-not-Turbo Porsche 911, the new high-performance models come to market with either 540 or 580 horsepower, depending on which version of the 3.8-liter, twin-turbocharged flat-six engine you choose. Both figures count as a 20-horsepower bump over the last Turbo/Turbo S, allowing both models to hit 60 in under three seconds – 2.9 and 2.7 seconds, respectively – and in the case of the S, on to a 200-plus-mph top speed. This capability will not come cheap, of course. Before so much as dipping a toe into Porsche's notoriously deep options catalog, the base Turbo will demand a $160,195 check. That's awfully spendy, and things don't improve as you climb up the range. The cabriolet adds $12,300 to that, while the S starts at $189,095. Going topless in the Turbo S will require $201,395. We had no trouble building a Turbo S Coupe up to $211,000 without adding some of the more obnoxious options, like the $1,720 leather air vents. Check out our live galleries of both the new 911 Turbo and the 911 Turbo S at the top of the page. Redefining fast: the new 2017 Porsche 911 Turbo and 911 Turbo S Top model of the 911 range offers more power, fresh design, and enhanced features ATLANTA, Nov. 30, 2015 /PRNewswire/ -- Porsche will be off to a powerful start in 2016 when the 2017 911 Turbo and 911 Turbo S make their debut at the North American International Auto Show in Detroit in January. The top-of-the-line 911 models will be available in both coupe and convertible body styles and are equipped with engines offering 20 horsepower more than before, a sharper design, and enhanced features. The 3.8 liter twin-turbo six-cylinder engine powering the 911 Turbo now develops 540 hp. The increase in horsepower is achieved through modified intake ports in the cylinder heads, new fuel injectors, and higher fuel pressure. The 911 Turbo S now makes 580 hp thanks to new turbochargers with larger impelle. In addition to a higher maximum torque (553 lb.-ft. in overboost compared to 523 lb.-ft. on the Turbo), the Turbo S also has a higher redline (7200 rpm instead of 7000). Porsche is still the only manufacturer to use turbochargers with variable turbine geometry in gasoline engines. The engines now also have a dynamic boost function, which improves throttle response during spirited driving. It maintains the boost pressure during load changes – i.e. when the accelerator pedal is briefly released.

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen