2001 Porsche 911 Carrera 2 on 2040-cars

Auto blog

Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

2017 Porsche Panamera wagon spotted on Nurburgring

Back in February we showed you spy photos of a Porsche Panamera wagon that suggest the body style is slated for production. With the same car (or a nearly identical test mule) now running on the Nurburgring, we're ready to say the Porsche Panamera Sport Turismo is real. The name comes from a concept shown at the 2012 Paris Motor Show. It's not confirmed whether the Sport Turismo badge will be the official name for this model. We've seen spy photos of the standard Panamera hatchback, and both it and the wagon shares similar body panels. Expect to see the new 2017 Porsche Panamera at Paris this year with new or updated V6 and V8 engines as well as a plug-in hybrid option. The new Panamera is based off the MSB platform that Porsche is leading development on. As we reported previously, the next big Porsche could come as a coupe variant as well. Autocar also reports that the MSB platform will underpin future Bentley models, and the next Audi A8 (or A9 coupe) will probably share the same architecture. Before you bemoan the shared platform as some kind of brand dilution, remember that Porsche claims the Macan SUV shares only one-third of its parts with the Audi Q5. That is, the brands in the VW maintain a lot of differentiation despite common underpinnings. Or to put it another way: if you're going to make a knee-jerk complaint about Porsche, keep it to the standard cliches about making too many SUVs or how the Panamera isn't pretty. But to go back to the wagon seen above, at least the boxy tail lends some elegance to the Panamera's generous dimensions. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Porsche Panamera Sport Turismo Wagon Spy Shots View 9 Photos Spy Photos Paris Motor Show Porsche Wagon Luxury porsche panamera sport turismo

Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.