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Porsche's former CEO Wiedeking to stand trial over VW-share manipulation

Former Porsche CEO Wendelin Wiedeking (left in the above photo) could potentially be facing some time in the slammer after all. The last we had heard, he and former Chief Financial Officer Holger Haerter (right) had avoided a trial in April due to a lack of evidence. However, an appeals court in Stuttgart has looked at the case again and overruled the earlier decision, finding that the executives should be tried for share manipulation during Porsche's failed attempt to take over Volkswagen in 2008, Bloomberg reports.
The judges in the appeal "list numerous indications that could suggest that there was a hidden decision to increase the stake as they could suggest the opposite evaluation by the lower court," said Stefan Schueler, a spokesperson for the court, in a statement cited by Bloomberg. Wiedeking and Haerter put out their own releases saying that there was no merit to the charges.
The prosecutors allege that Wiedeking and Haerter had a plan to buy up VW stock options in 2008 to take the automotive giant over but hid it from investors. The whole thing was a massive failure and eventually allowed VW the chance to acquire Porsche and forced the two execs to step down. In addition to the criminal investigation, hedge funds have attempted to sue the company multiple times in civil court for the same reason, but they have repeatedly failed.

2016 Porsche 911 Carrera is all turbo, all the time [w/video]

There's always a lot of fanfare around a new version of the iconic Porsche 911. But for 2016, there's a huge reason to take notice. Porsche is turbocharging the full 911 range, introducing a new, 3.0-liter flat-six that will serve as the base engine in the Carrera and Carrera S. Purists may scoff, but there's proof in the pudding that this is a good move for the 911 range. Base Carreras will produce 370 horsepower and 331 pound-feet of torque, while the Carrera S ups those numbers to 420 and 368, respectively. Porsche says the new 911 Carrera models are much faster than before, reportedly clocking a 7:30 lap time on the infamous Nurburgring. The Carrera tops out at 183 miles per hour, and the S will do 191. A seven-speed manual transmission comes standard, and Porsche's excellent PDK dual-clutch gearbox can be had, as well. The new 911 will arrive Stateside next March, priced from $89,400 for the Carrera and $103,400 for the S. Cabriolet models will sticker for $101,700 to $115,700. The press release below has more information. The sports car legend enhanced: the new Porsche 911 Carrera New turbocharged engines, an advanced chassis, and new Porsche Communication Management Atlanta, Georgia. Celebrating its debut at the Frankfurt International Auto Show, the new 911 Carrera is taking performance and everyday usability to new heights. Innovative flat-six engines derived from four decades of turbocharging used in racing and on road cars not only make this the fastest 911 Carrera ever, but also provide abundant torque for superior passing power. An advanced chassis offering an even more sophisticated combination of ride comfort and performance characterizes the handling of the new 911. For the first time, rear-axle steering is available as an option for the Carrera S, significantly enhancing its already superb agility. These improvements reduce the lap time on the North Loop of the Nurburgring to just 7 minutes and 30 seconds, making it 10 seconds faster than the previous Carrera S. Many exterior features of the 911 Carrera have been visually refined from new headlights with four-point daytime running lights to integrated door handle recesses, a redesigned rear deck lid with vertical louvers, and new rear lights – including the characteristic four-point brake lights. The new standard Porsche Communication Management system with a multi-touch display offers an expanded range of functions and simplified usability.

Porsche expects to hit 200k sales target 3 years early

When Porsche launched the Cayenne, enthusiasts and purists – in between fits of rage – rationalized the SUVs existence by imagining that the money it brought in would guarantee the company's continued ability to produce the many beloved versions of its 911. The same was said when the Panamera arrived, and again when the Macan was unveiled. What probably wasn't imagined when these three more mainstream vehicles joined the Porsche catalog, was how dramatic an impact they'd have on the company's sales figures. The company expects 2015 to be a banner year, as it aims to hit a 200,000-unit sales goal three years ahead of schedule. Porsche sold nearly 190,000 units in 2014, a gain of 17 percent over 2013, while its year-over-year sales for December were up 39 percent. Considering Porsche made these gains before the full impact of the new Macan could be felt, it's no wonder the company is so keen on 2015. Porsche has already moved 45,000 Macans, which would be impressive on its own, were it not for the way the CUV is elevating the brand. According to a report from Reuters, two-thirds of the company's Macan deliveries have been to first-time Porsche customers. Considering these two facts, it will be extremely interesting to see the impact Porsche's newest model has on its sales over a full calendar year.