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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

Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

Former Porsche execs acquitted of stock manipulation charges

A German court acquitted former Porsche CEO Wendelin Wiedeking and former CFO Holger Harter of stock manipulation charges, according to Bloomberg. Prosecutors alleged the men hid plans to takeover Volkswagen while publicly denying their intentions to investors. The presiding judge didn't find any merit to those claims, though. "There is nothing to the allegations, absolutely nothing," Judge Frank Maurer said, according to Bloomberg. "There was no secret plan to take over VW." Rather than Porsche taking over VW, the exact opposite eventually happened, and both execs stepped down. Investigators first indicted Wiedeking and Harter for alleged stock manipulation in late 2012. A court in Stuttgart dismissed the case in 2014 because of a lack of evidence, but an appeals court later overruled that decision. The current trial finally began in October 2015. If convicted, Wiedeking faced up to 30 months in prison, and Harter could have received up to 27 months, Bloomberg reported. Prosecutors also wanted one million euro ($1.1 million) fines from them and 807 million euros ($910 million) from Porsche. The acquittal might not be the end of this long-running case, though. In Germany, prosecutors have the right to appeal a ruling, and the lawyer hasn't made a final decision yet. If the court thinks there's a reason, the former execs could be back in front of a judge at some point in the future.