Porsche Carrera 1996 Cabriolet Supercharged on 2040-cars

Auto blog

Porsche exec confirms Macan Diesel for US

The idea of a diesel-powered Porsche is the sort of thing that sounds really, really weird... until you actually drive it. The result of sticking glow plugs under the hood of Stuttgart's finest, though, is a vehicle that's nearly as entertaining as a gas-powered model but with much more torque and better fuel economy. Considering that, we think it's absolutely splendid news that following previous reports, Porsche has now confirmed a diesel-powered Macan for the US market.
"We are now busy with the development and the engineering," Andre Oosthuizen, Porsche's North American marketing VP, told Automotive News. "I can confirm that V6 diesel offering with about 245 horsepower."
Yep, that's the same 3.0-liter V6 found, most notably, in the CUV's Audi Q5 platform-mate as well as a plethora of other Volkswagen Group vehicles, both in the US and abroad. Stuttgart already offers the 3.0-liter oil-burner in the Euro-spec crossover, where it churns out 258 hp and 427 pound-feet of torque.

Porsche issues stop-sale on Cayenne Diesel in US

As reported yesterday, the ongoing Volkswagen diesel emissions scandal has expanded to the VW Group's 3.0-liter TDI V6 engines. The Environmental Protection Agency's finding implicate many engines used by Audi and Porsche, including Porsche's only US domestic market diesel offering: the Cayenne. And after putting two and two together, Porsche has issued a stop-sale on its US-market Cayenne diesels. Porsche's statement is terse. They refer to the EPA's findings as "unexpected," and stress that its stop-sale order is "voluntary." And Porsche assures owners that they can continue to drive their Cayennes as per normal, like the rest of the VW Group vehicles called into question for NOx emissions. The stop-sale order will remain in place indefinitely, until Porsche can "resolve" the issue. No word as of yet as to what the fix will be for the 3.0-liter TDI engines. Porsche Cars North America Statement Regarding Voluntary Stop Sale of Porsche Cayenne Diesel Vehicles ATLANTA, Nov. 3, 2015 /PRNewswire/ -- Porsche Cars North America, Inc. today decided, in view of the unexpected U.S. EPA notice received yesterday, to voluntarily discontinue sales of model year 2014 through 2016 Porsche Cayenne Diesel vehicles until further notice. We are working intensively to resolve this matter as soon as possible. Customers may continue to operate their vehicles normally. About Porsche Cars North America, Inc. | One Porsche Drive, Atlanta, GA 30354 USA Established in 1984, Porsche Cars North America, Inc. (PCNA) is the exclusive U.S. importer of Porsche 918 Spyder, 911, Boxster and Cayman sports cars, the Macan and Cayenne SUVs, and Panamera sports sedans. Headquartered in Atlanta, Georgia since 1998, PCNA is also home to the first Porsche Experience Center in North America featuring a module-based 1.6 mile driver development track, business center, human performance center, and fine dining restaurant. PCNA employs approximately 300 people who provide parts, service, marketing, and training for 186 dealers. They, in turn, work to provide Porsche customers with a best-in-class experience that is in keeping with the brand's 65-plus year history and leadership in the advancement of vehicle performance, safety and efficiency. PCNA is a wholly-owned subsidiary of Porsche AG, which is headquartered in Stuttgart, Germany. At the core of this success is Porsche's proud racing heritage that boasts some 30,000-plus motorsport wins to date.

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.