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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.

2016 Porsche 911 Carrera is all turbo, all the time [w/video]

There's always a lot of fanfare around a new version of the iconic Porsche 911. But for 2016, there's a huge reason to take notice. Porsche is turbocharging the full 911 range, introducing a new, 3.0-liter flat-six that will serve as the base engine in the Carrera and Carrera S. Purists may scoff, but there's proof in the pudding that this is a good move for the 911 range. Base Carreras will produce 370 horsepower and 331 pound-feet of torque, while the Carrera S ups those numbers to 420 and 368, respectively. Porsche says the new 911 Carrera models are much faster than before, reportedly clocking a 7:30 lap time on the infamous Nurburgring. The Carrera tops out at 183 miles per hour, and the S will do 191. A seven-speed manual transmission comes standard, and Porsche's excellent PDK dual-clutch gearbox can be had, as well. The new 911 will arrive Stateside next March, priced from $89,400 for the Carrera and $103,400 for the S. Cabriolet models will sticker for $101,700 to $115,700. The press release below has more information. The sports car legend enhanced: the new Porsche 911 Carrera New turbocharged engines, an advanced chassis, and new Porsche Communication Management Atlanta, Georgia. Celebrating its debut at the Frankfurt International Auto Show, the new 911 Carrera is taking performance and everyday usability to new heights. Innovative flat-six engines derived from four decades of turbocharging used in racing and on road cars not only make this the fastest 911 Carrera ever, but also provide abundant torque for superior passing power. An advanced chassis offering an even more sophisticated combination of ride comfort and performance characterizes the handling of the new 911. For the first time, rear-axle steering is available as an option for the Carrera S, significantly enhancing its already superb agility. These improvements reduce the lap time on the North Loop of the Nurburgring to just 7 minutes and 30 seconds, making it 10 seconds faster than the previous Carrera S. Many exterior features of the 911 Carrera have been visually refined from new headlights with four-point daytime running lights to integrated door handle recesses, a redesigned rear deck lid with vertical louvers, and new rear lights – including the characteristic four-point brake lights. The new standard Porsche Communication Management system with a multi-touch display offers an expanded range of functions and simplified usability.

Porsche acquires Kyalami race track at auction

With more victories under its belt than any other manufacturer, you could say, in a figurative sense at least, that Porsche owns countless numbers of race tracks around the world. But here we're not talking about figuratively owning a track - we're talking about literally buying one. And Porsche has just bought Kyalami.
Kylamai, for those unfamiliar, is a grand prix circuit near Johannesburg in South Africa. Between 1967 and 1985, and again in '92 and '93, it was home to the South African Grand Prix, and has since hosted a variety of local and lower-level international races, but apparently fell on hard times. As a result, the track's owners - listed as Universal Property Professionals - put it up for auction. Bidders had to deposit four million Rand (about $380k) to participate, but after just 50 seconds, the auction was over.
The winning bid was placed - via telephone from the local press launch for the Macan - by Porsche South Africa CEO Toby Venter, who bid a reported 205 million rand (about $19.5 million) to take over the complex. The German automaker's South African division reportedly intends to keep the track open for racing, but could also be expected to use the facility for testing, customer track days and such moving forward.