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Weekly Recap: Porsche embarks on Mission E

Porsche's board of directors approved the company's first all-electric car Friday, signing off on production of the eye-catching Mission E concept that debuted in September at the Frankfurt Motor Show. It's set for launch by the end of the decade. The Frankfurt concept uses lithium-ion batteries to power two synchronous motors that create more than 600 horsepower and provide a range of 311 miles on the European cycle. It's capable of hitting 62 miles per hour in 3.5 seconds and can run the Nurburgring Nordschleife in less than eight minutes. In a statement, Porsche board chairman Oliver Blume called the Mission E the "beginning a new chapter in the history of the sports car." Porsche is backing that up with a roughly $1.1-billion investment that will create more than 1,000 jobs at its facilities in Zuffenhausen, Germany. The company will spend more than $760 million at its main site there to build a paint shop and a new assembly plant. It will also expand an engine factory to make electric motors. Porsche's renewed electric ambitions come as it grapples with fallout from parent company Volkswagen's diesel-emissions scandal. Porsche uses a VW diesel engine in the Cayenne SUV, which it stopped selling in November until a fix is found. Still, Mission E's scheduled landing could be as much as four years away – when Porsche and VW hope their diesel woes will be long over. The electric strategy is clearly a long play to provide its enthusiast owners with an efficient form of sport and luxury as fuel economy and emissions regulations tighten around the world. And if you still can't wrap your head around electric Porsches, the company also just announced plans to make the 911 Turbo and Turbo S even more powerful. Electric propulsion is part of Porsche's future, but for now at least, it isn't everything. OTHER NEWS VW sales crash 25 percent in November Finally, the other shoe dropped. Volkswagen sales plummeted 25 percent in November as fallout from the company's diesel-emissions scandal finally showed up on the sales charts. VW had managed to tread water with flat sales through September (the scandal broke more than halfway through the month) and October. The company stopped selling its 2.0-liter I4 and 3.0-liter V6 diesels as it works to make the engines complaint with emissions rules. VW admitted to rigging its diesel-powered cars so they could pass emissions tests in the United States and around the world.

Chevy Corvette Stingray defeating rivals where it matters most

Everything is coming up roses for the award-winning Chevrolet Corvette Stingray, as new data from the North American Dealers Association dissected by GM Authority reveals that America's sports car is handily outselling two of its more expensive rivals.
Through June of 2014, the NADA notes that the Corvette has rung up 17,744 sales, handily besting the Porsche 911 and positively spanking the SRT Viper. Of course, you're sitting there thinking, "Corvette is outselling the much more expensive Porsche and Viper. Sky blue, water wet." But what's impressive here is just how thoroughly the Chevrolet is beating its two rivals, with this data serving as a testament to just how popular the seventh-generation sports car has become.
So far this year, Porsche has managed to move 5,169 911s, according to NADA. Considering that the base model starts at nearly $15,000 more than the most heavily optioned Stingray, and that Porsche owners have a vast, expensive options catalogue to select from, Stuttgart's sales are still plenty impressive in relation to the nearly 18,000 Corvettes sold.

VW could fight Uber Black with Porsche and Audi vehicles

Last week, the Volkswagen group dumped $300 million into Gett, a taxi hailing-cum-ride sharing app that's big outside of the US. Now, the company has revealed that it's pondering a rival to Uber Black by offering private drivers access to its higher-end vehicles. Details are scarce since it's a single line reference in a very long press release, but VW says that it's looking at a "special chauffeur service" that features "premium brands, such as Audi and Porsche." What that looks like in reality is anyone's guess, although the idea of getting ferried around in an Audi RS 7 does have some appeal. The deal with Gett will concentrate on getting Volkswagen cars into the hands of Gett's drivers with the promise of juicy discounts. For instance, the firm will offer a special package that'll bundle car insurance and servicing with the purchase price, which can be paid by a would-be operator in installments. It's a similar deal to the one that Uber offers would-be drivers, letting them buy cars from manufacturers like Volkswagen, Ford and Toyota at a discount. Uber, however, also lets prospective cabbies rent their vehicle on a monthly basis, thanks to a deal with Enterprise. Both of which will likely become more muscular now that Uber has a further $3.5 billion in its back pocket. The troubling fact for the auto industry is that people will still need cars, but it's likely that they won't need as many as they do right now. On-demand services and self-driving vehicles are, after all, intended to shuttle around cities like an ersatz taxi-cum-metro system rather than sitting in parking lots. The concepts of ownership that we currently hold dear (and the profits that car companies get from them) are likely to fade away in the next, say, fifty years time. As such, conglomerates like VW will have to reinvent themselves as both manufacturer and transport company in one. But these changes are never easy, especially when the biggest car firms have tons of baggage that slows down their progress. Many are still devoting time and resources to producing thousands of new cars with combustion engines that will be on the roads for years to come. Looming in the shadow, however, is the emissions scandal, with the financial and reputational penalties likely to be felt for years to come. Younger, more nimble rivals without legacy businesses, like Tesla, are working on mass-producing electric cars for mass-market prices.