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Porsche skipping 2017 Detroit Auto Show

Porsche is going to pass on the annual North American International Auto Show in January 2017. The news was first reported on Tuesday by Germany's Auto Motor und Sport. NAIAS spokesman Max Muncey confirmed the report to Autoblog. According to Automotive News, Porsche will shift its auto show focus to April's New York International Auto Show and November's Los Angeles International Auto Show. Chicago Auto Show spokesman Dave Sloan reached out to Autoblog to add that Porsche is doubling the size of its exhibit in the Windy City. According to AN, Porsche "viewed the cost and value of participating in the Detroit auto show were no longer viable." See, Detroit is big on news and debuts instead of ultra-impressive ticket sales. But over 1 million people passed through the doors of the Jacob Javits Center in New York last year, just under 200,000 more than in the Motor City. LA, meanwhile, is Porsche's biggest US market, which explains the loyalty. In other words, Detroit's great for debuting cars, but without anything new Porsche can get more cluck for its buck by reallocating resources to New York and LA. If Porsche's rationale sounds familiar, it's because it is. Jaguar Land Rover, Mini, and Tesla used Detroit's heavy focus on new vehicle introductions and its relatively small attendance to skip the 2016 North American International Auto Show in favor of shows with higher attendance. Porsche previously skipped the 2009 NAIAS, citing similar reasons. Related Video: News Source: Automotive News - sub. req.Image Credit: Patrick T. Fallon/Bloomberg via Getty LA Auto Show Detroit Auto Show New York Auto Show Porsche confirmed 2017 Detroit Auto Show

VW CFO Hans Dieter Potsch nominated as new board chairman

The search for a successor to Ferdinand Piech has come to an end as the Volkswagen Group has nominated a new chairman. The Executive and Nomination committees of VW's Supervisory Board have put their weight behind one Hans Dieter Potsch, who currently serves on the company's management board as its chief financial officer. He's expected to continue in his current role until November when an extraordinary general meeting of the supervisory board can be called to confirm his nomination and a replacement CFO can be found to take his place. As you may recall, the chairmanship of the Volkswagen board fell until recently to Ferdinand Piech, grandson of Ferdinand Porsche and one of the principals of the Porsche family that holds over 50 percent ownership in Volkswagen through Porsche Automobil Holding SE. Piech went head to head with VW CEO Martin Winterkorn and ultimately lost. Piech resigned and Winterkorn is about to have his term as chief executive extended through the end of 2018. In Piech's place, former union head Berthold Huber was named as interim chairman, but is now referred to in the statement below once again as deputy chairman instead. An Austrian native, Potsch is an industrial engineer by training. He started his career at BMW where he ultimately served as group controller, and subsequently served as CFO and as chairman at a number of German corporations. Potsch joined the VW management board in 2003, initially without portfolio, and soon assumed the financial portfolio – a role he has held until now. In 2009 he took on the additional role of chief financial officer at the Porsche holding company, whose supervisory board representatives are the parties proposing Potsch's nomination as the group's new chairman – even though he is not, strictly speaking, one of their own. In a related development, it appears that Julia Kuhn-Piech will be leaving her board seat sooner than expected. The departing chairman Ferdinand Piech opposed his niece's nomination to the board in his place, and now she'll apparently be stepping down to make way for the family's new choice of chairman.

Salvage team boards burnt ship Felicity Ace off Azores, towing begins

LISBON — More than a week after a ship packed with around 4,000 vehicles, including Porsches, Audis, Lamborghinis and Bentleys, caught fire in the middle of the Atlantic Ocean, a salvage team managed to board the vessel on Friday and started to tow it to a safe location off the Portuguese Azores archipelago. In a statement, ship manager Mitsui O.S.K. Lines Ltd (MOL) said the Felicity Ace remained stable, and the smoke that for days billowed from the vessel, adrift around 170 km southwest of the Azores, had stopped. The 22 crew members of the Panama-flagged Felicity Ace, which was carrying around 4,000 vehicles including Porsches, Audis and Bentleys from Germany to the United States, were evacuated last Wednesday, the day the fire broke out. Some of the vehicles are electric and their lithium-ion batteries have made the fire very difficult to extinguish, port officials have said. Previous attempts to board the ship to assess its condition and start preparing it for towing had failed due to the fire and rough seas. On Friday, the team was able to board by helicopter and the salvage boat Bear started towing the vessel to a "safe area off Azores," the ship manager said. It was not clear where exactly the vessel was being towed to. It was being escorted by two tug boats and another salvage craft equipped with firefighting gear, MOL said. Related video: Image Credit: Portuguese Navy (Marinha Portuguesa) via Reuters Green Weird Car News Audi Bentley Lamborghini Porsche Electric fire car fire shipping cargo ship