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Former Porsche execs charged with stock manipulation in Germany

The ongoing indictment of top Porsche executives for alleged stock manipulation during the attempted takeover of Volkswagen has taken years to reach an actual decision, but a trial date has finally been set for October 22. In addition to former CEO Wendelin Wiedeking (pictured above) and ex-CFO Holger Haerter, prosecutors have also added Anton Hunger, who was communications boss at the time, to the list of those charged, according to Reuters. The men purportedly made false statements to investors about plans to acquire 75 percent of VW stock. The prosecutor also dropped charges against Ferdinand Piech and Wolfgang Porsche in the same case, Reuters reports. The two Porsche family members were on the company's board at the time, but investigators found that they had no role in making the false statements. If found guilty, the former Porsche execs could face up to five years in prison. As expected, lawyers for Wiedeking and Haerter have repeatedly denied any wrongdoing by their clients. The investigation into Porsche SE's actions during the failed VW takeover go back to at least 2009 when the firm's offices were raided. Wiedeking and Haerter were eventually indicted in 2012. A Stuttgart court initially dismissed the case for lack of evidence, but in 2014 that decision was reversed on appeal. At the same time, investors have brought multiple civil lawsuits against the company, but none of those cases have been successful.

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.

2015 Porsche Panamera Exclusive Series is a seriously quick way to spend $260k

Porsche is usually associated with being a sports car brand, but with vehicles like the Cayenne and Panamera it takes a step into the world of luxury against firmly established players like Mercedes-Benz. One way for the company to poke its head above the high-class fray is by taking things further, and in the case of the Panamera Exclusive Series at the Los Angeles Auto Show, it means pushing grandeur to extreme levels.
Coming in at an absolutely eye-watering $263,900, plus $995 destination, the Panamera Exclusive starts its life as the already sumptuous Panamera Turbo S Executive with a 4.8-liter, twin-turbo V8 making 570 horsepower on an extended wheelbase. To help justify the extra $63,000 for the Exclusive, though, the model gets 20-inch black Sport Classic wheels and an interior in swaddled in Nappa leather with dark walnut and piano black trim. Rear passengers also get 10.1-inch touchscreens mounted on the back of the front seats. A set of fitted Poltrana Frau leather luggage is included with each one, as well.
The luxurious sedan earns it Exclusive moniker because just 100 of them are being made worldwide. Scroll down to read about Porsche's ultimate limousine.