2012 on 2040-cars

Auto blog

Criminal slices through Porsche's roof just to break in

Porsche fans, look away. This footage of a thief in London slicing his way into a classic 911 might be too much for lovers of the sports car to bear. Police released CCTV footage of the September break-in in the hopes of scaring up information that could lead to an arrest, the Daily Mail reported. The man pulled off his brazen daylight crime spree in the posh neighborhood of Mayfair in central London. It started when he tired to steal an older, red Porsche 911. Unable to pick the lock, he sliced through the roof with a large knife and hopped inside through the hole. Several people simply walked past the Porsche, now blaring its alarm in distress with its roof in tatters. The man then jumped out the same way he entered when he couldn't hotwire the car. To add insult to injury, the man used the large rear spoiler as a springboard to the street. It seems this suspect had brand loyalty. Witness told police they saw a man fitting the same description attempting to steal a GBP80,000 Cayenne nearby only 20 minutes later. He also threatened onlookers with a large knife. Unable to nab either Porsche, he robbed a nearby sportswear store, taking running shoes and a tracksuit. When the staff tried to stop the thief he also threatened them with a knife. Despite the multiple witness and video evidence, there are still no leads in the case. Police are asking anyone with information to come forward. Related Video:

German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit

Porsche 911 GT3 RS facing delay over GT3 fire problems?

Porsche has never been afraid to introduce variants of its cars. However, its even higher spec, next-generation 911 GT3 RS may be delayed from its planned launch this summer while the engines in the standard GT3s (pictured above) are replaced.
A delay isn't certain, but executives want to make sure the high-strung mill is no longer a problem before they press forward with another model using it. Germany's Auto Motor und Sport asked Porsche CEO Matthias Müller about pushing back the launch, and he responded that it was too early to say. The company's current focus is making sure the engines get fixed and working on internal measures to prevent this kind of flaw in the future.
When fires claimed two 911 GT3s in Europe, Porsche initially stopped the model's sales and asked owners to stop driving them. It finally diagnosed the blazes as being caused by a loose screw on a connecting rod, which then resulted in crankcase damage and an oil leak. The company is replacing the engines on all 785 affected cars. A source told Autoblog that under 200 customers were actually affected, and the other cars were either at port or dealer lots. Hopefully, the recall doesn't postpone the road-going GT3 RS too far because we want to see what Porsche has up its sleeve.