2007 Porsche Cayman 2dr Cpe on 2040-cars

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Porsche will sacrifice profit growth to fund EV development

Porsche is so serious about developing electrified vehicles that it's willing to sacrifice big jumps in profits to fund the investment. After a massive upgrade to the Zuffenhausen plant, the company will build the Mission E EV (above) there in 2020. "Therefore it's clear that we can no longer carry out major leaps on results," the CEO Oliver Blume said about the automaker's financial growth, according to Reuters. Porsche will invest 1.1 billion euros ($1.2 billion) through 2020 to make additional electrified vehicles possible. Around 700 million euros ($765 million) will go into the Zuffenhausen factory to build a new paint shop, assembly plant, and upgrade the engine factory to produce electric motors for hybrids and EVs. The expansion will also bring all Cayman and Boxster assembly under one roof. Outside of Zuffenhausen, the money will improve the research and development center in Weissach and update the sales and marketing department in Ludwigsburg. Blume said Porsche has "many new products in the pipeline," according to Reuters, and he wants as many of those as possible available with some level of electrification. In addition to the Mission E, there are rumors the company might build a 911 plug-in hybrid as soon as 2018. While Blume doesn't forecast big jumps in profits, Porsche should still remain financially successful in the coming years. The automaker doesn't report its 2015 earnings until March 11, but Reuters reports the company's global deliveries topped 200,000 vehicles for the first time ever last year, which could push its operating profit well above 2014's 2.72 billion euros ($3 billion at current rates). Related Video:

Seinfeld's Porsches, '61 Ferrari lead the way at Gooding Amelia Island sale

If you're in the market for a sports car with celebrity provenance or just an incredibly well-preserved high-performance machine, then you'll want to check out Gooding & Company's Amelia Island auction in Florida on March 11. The highlight of the sale is likely 18 cars, mostly Porsches, from Jerry Seinfeld's collection, but there's more to see than just the comedian's sporting metal. While several of Seinfeld's cars carry auction estimates in the millions, they aren't the most valuable at the sale. That honor falls on a 1961 Ferrari 250 GT SWB California Spider, which could sell for between $15 million and $17 million. This one is among the 37 examples with covered headlights, and it has some theatrical provenance after appearing in the Sophia Loren film Yesterday, Today, Tomorrow. If your tastes skew more American, then one of 31 Ford GT40 MKI road cars is also among the lots. Gooding expects the rare coupe to sell for between $3.2 million and $3.6 million. Ford originally used this GT40 for dealer promotions, but it eventually fell into private hands. Even today, its multiple owners have only covered around 3,200 miles in it. Gooding also expects a 1931 Duesenberg Model J Disappearing-Top Convertible Coupe with a body by Murphy to bring $2.5 million to $3 million. The auction house claims this might be the "most original" example left because of a history of owners who kept it for long periods – and the vehicle never needed a complete restoration. Some lots carry more attainable estimates like $35,000 for a 1962 MGA. You can check out all the listings on Gooding's online catalog and some of the highlights in the gallery above. You've probably read the news about Seinfeld's Porsches, but here's a refresher: The collection includes amazing cars like a 550 Spyder, 917/30 Can-Am Spyder, and a 718 RSK. Related Video:

Acura Integra, Cadillac CT4-V Blackwing, Porsche Taycan | Autoblog Podcast #721

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Yahoo Finance Senior Reporter Pras Subramanian. They kick things off by talking about driving the Cadillac CT4-V Blackwing and Porsche Taycan. In this week's news, they discuss the production reveal of the 2023 Acura Integra, Tesla's latest price hike, and Ford leaving the rear climate controls out of Explorers due to the chip shortage. Finally, they talk about the current state of affairs at Stellantis as the company plays catch-up with electric vehicles. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #721 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2022 Cadillac CT4-V Blackwing 2022 Porsche Taycan 2023 Acura Integra production specs and photos revealed Tesla increases prices yet again Ford to sell Explorer SUVs missing rear climate controls due to chip crunch Analyzing the state of Stellantis Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: