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Porsche 911 GT1 Evo up for grabs in Monaco valued at $3M

On paper, Porsche didn't do a flagship supercar in between the 959 and the Carrera GT. In reality, it did. Sort of. It was the strassenversion of the 911 GT1, a homologation special based on a spectacularly successful racing car. And RM Sotheby's has a standout example consigned for its upcoming sale in Monaco. What you're looking at is a 911 GT1 Evolution that served as the mid-point in the GT1's development, following the original and followed in turn by the GT1-98 that won the 24 Hours of Le Mans that year. One of just fourteen 911 GT1s held in public hands, chassis number GT1 993-117 won the Canadian GT Championship three years running, and is the only GT1 Evo that was ever registered for use on public roads. RM Sotheby's anticipates that it will fetch between $2.9 and $3.25 million when it crosses the auction block in May, marking the first time that this particular example has come up for auction. That would make it considerably more valuable than the GT1 Evo Gooding & Company sold at Amelia Island in 2012 for $1.26 million, according to Sports Car Market. Of course, the Porsche isn't the only notable item the auction house has lined up for the sale during the Grand Prix de Monaco Historique weekend. There's a pair of 1930s German convertibles – one Mercedes 540 K and one Horch 670 – valued at about the same level as the 911 GT1, a Tucker 48 (~$1.6m), and Niki Lauda's debut March 711 grand prix racer (~$550k). Those are some tempting sets of wheels, and we'll be watching to see how they fare two months from now.

$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.

2017 Porsche Macan receives delayed CARB certification

Customers waiting for delivery of their 2017 Porsche Macans will soon receive their vehicles after several weeks of delays. The California Air Resources Board certified the performance crossover for sale Monday. Several outlets reported the certification had been held up in the aftermath of parent company Volkswagen's diesel woes, as regulators are now making much more thorough inspections of the vehicles. Without certification, Porsche could not deliver those vehicles to customers in 13 states that abide by CARB certification, including California, New York, Pennsylvania, and Florida, several of the largest markets for luxury automobiles in America. Not only did dealers need to stop sale of Macans they had on their lots, but an unknown number could not be released from port. Porsche Cars North America (PCNA) imports its vehicles through ports in Jacksonville, FL, Davisville, RI, Houston, TX, and San Diego, CA. A spokesman for Porsche told Autoblog the issue has been resolved, and that the Macans received certification Monday. "Shipping has already been initialized," spokesperson David Burkhalter wrote. Pressed for details on the circumstances behind the delay, he said the process was simply "now the normal business procedure for certification." The Macan is a pivotal model for Porsche, particularly in the US market, which accounts for 22 percent of its worldwide sales. Last year, the Macan was the second-best selling Porsche model in America. Its 13,533 units sold trailed only the 16,473 Cayennes purchased by US buyers. Diesel models of the Cayenne manufactured between 2013 and 2016 contained the defeat devices at the center of Volkswagen's emissions cheating, according to the Environmental Protection Agency. The company offers the Macan with a range of turbocharged six-cylinder engines ranging in output from 340 to 400 horsepower. While a diesel version is not offered in the United States, Porsche has now started importing a less powerful, but more accessible (and slightly more fuel-efficient) version with a 2.0-liter turbo four. Related Video: