2006 Porsche Cayenne on 2040-cars

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$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Porsche spotted testing next 911 GT3 in its natural habitat

Want a Porsche 911 GT3? Well too bad, because they're all sold out – and from what we hear, they have been for a while. But don't worry, there'll be another one coming soon. And here's our first look at it. Based on the updated 991, the new GT3 may be one of the few variations on the theme that won't be going turbocharged. It may, however, get a three-pedal manual transmission – possibly the six-speed from the 911 R as opposed to the seven from the Carrera. That is, at least, if the tinkerers in Weissach perk up their ears and listen to what their most enthusiastic customers have been saying. Because while the dual-clutch PDK may be faster, the GT3 has traditionally been as much about the driving experience as it has about outright pace. As it's mostly wearing the bodywork of the outgoing GT3, there's unfortunately little to be seen from this prototype spotted testing at the Nurburgring in one of the first (mostly) thawed test sessions of the season. But you can expect the new model to blend elements from the old GT3 with the revisions made to the new 911. And with it, expect a bit more power and a bit more performance from the latest iteration of a driving enthusiasts' favorite. We're told to expect the new 911 GT3 to hit dealers some time next year. There may or may not be a GT3 RS to follow, but from what we've seen, there ought to be an even faster GT2 RS entering the mix before long as well.

Porsche names new motorsport chief

Though it may have expanded into crossovers and sedans, Porsche is still a company with racing at its heart. You might even argue that Cayenne and Panamera sales only serve to fund the company's motorsports activities. Competition-spec 911 coupes still make up a large portion of the grid in any GT racing series, and those activities are presided over by the Porsche GT division (separate from its LMP1 program), which has just announced a changing of the guard.
Porsche's GT unit - which is responsible both for racing models like the 911 RSR and road-going models like the 911 GT3 - has until now been steered by Hartmut Kristen (pictured above, left) in his capacity as Vice President of Motorsport at Porsche AG. During his ten-year tenure, Kristen gave birth to the RS Spyder that competed in the American Le Mans Series and the pioneering 911 GT3 R Hybrid. He also fostered what Porsche characterizes as "arguably the most comprehensive youth development program in motor racing" and saw the marque return to Le Mans last year with a dominant 1-2 class victory.
Kristen, now 59 years old, is leaving the German automaker, but will remain an advisor to the company's R&D department. Taking over as VP of Motorsport will be Dr. Frank-Steffen Walliser, who has until now been head of the 918 Spyder project (a responsibility he will continue). Walliser (pictured above, right) was previously Porsche's general manager for motorsport strategies and will now be responsible for Porsche's GT projects on and off the track, while Fritz Enzinger continues at the helm of the LMP1 program in pursuit of better results next year than the 919 Hybrid achieved at Le Mans last month.