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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 previews new 911 in development

Porsche has taken the rather unorthodox step of releasing a series of photos of a new vehicle before it reveals it in full, sans brightwork and covered in dirt. That model, as you can see, is the new 911, expected to feature a number of upgrades and some big changes over the 991-generation line it will replace. The photos give us an advance look at the update, with more details to follow. Likely to be dubbed (unofficially) as the 991.2 or 991.5, the new 911 will encompass the usual array of visual updates: revised bumpers, headlights, rolling stock, interior equipment... the works, as we saw from the most recent batch of spy shots. But the biggest change will be under the hood, where Porsche is expected to fit a new family of downsized, turbocharged flat-six engines to replace the naturally aspirated units in the current models, likely with more power and improved performance to boot. We expect the launch of the new 911 to kick off a raft of new versions to follow, including coupes, convertibles, and Targas (as you can see from the photos), as well as rear- and all-wheel-drive versions in various states of tune. The current generation, after all, bred a about two dozen versions, and you can bet the new one will lead to just as many, from the base Carrera all the way up to the Turbo. That will (as in the all-turbo Macan range) likely remain the flagship model, even after the forced induction no longer sets it apart. The GT3, GT3 RS and a new purist model are expected to be the only hold-outs for atmospheric pressure, but the widespread adaptation of turbocharged power will put another degree of separation between the new 911 and the naturally aspirated, air-cooled models of old. For more details, we'll have to wait until Porsche reveals the full monte, but for a taste of what's to come, look no further than the 19 high-resolution images in this slideshow. Related Video: Featured Gallery 2017 Porsche 911: Testing View 19 Photos Image Credit: Porsche Porsche Performance porsche 991

Lexus leads J.D. Power's Vehicle Dependability Study for 2021

J.D. Power's latest Vehicle Dependability Study is out, and, not surprisingly, Lexus sits at the top for the ninth time in the last 10 years. Right behind Lexus is Porsche, followed by Kia, which is the highest-ranked mass-market brand in the study. Genesis, last year's top-ranked brand (in its first year included in the results), fell from first to eighth, though the G80 sedan did earn an award in its midsize luxury segment. The Porsche 911 was called out as the Most Dependable Model by J.D. Power for the second time in the last three years. The vehicles being studied are from the 2018 model year, which means owners have had three years to get to know their cars and trucks. It's notable that this year's study shows a marked improvement in overall vehicle dependability as tracked by J.D. Power. The overall level of problems, scored by the number of problems per 100 vehicles (PP100), declined by 10% compared to last year.  "The study results validate what we have known for some time," said Dave Sargent, vice president of global automotive at J.D. Power. "Automakers are making increasingly dependable vehicles — but there are still some problem areas that need to be addressed and some warning signs on the horizon." Tesla makes its inaugural appearance on the Dependability Study, though its score of 176 PP100 isn't official. Tesla is the only automaker that has chosen not to grant J.D. Power permission to survey its owners in all 50 states. As we've pointed out in the past, the Vehicle Dependability Study includes eight major vehicle categories grouped by J.D. Power as follows: audio/communication/entertainment/navigation (ACEN); engine/transmission; exterior; interior; features/controls/displays (FCD); driving experience; heating, ventilation and air conditioning; and seats. All issues reported by owners are all tracked equally, which means a problematic phone pairing procedure dings an automaker's rating the same as a blown engine or transmission. And in fact, the ACEN category has more reported problems than any other, which means the majority of problems reported don't lead to a vehicle that leaves its owner stranded. Green Land Rover Lexus Porsche Car Buying JD Power dependability reliability