2006 Porsche Boxster S Red Convertible 2-door 3.2l Climate Control Garage Kept on 2040-cars

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Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

The 2014 Ruf RCT offers rear-drive action with 911 Turbo fun

Ruf has 37 years of experience of turning Porsches into even higher performance machines. For the 2014 Geneva Motor Show, it's unveiling the RCT, or Ruf Carrera Turbo, which offers power to split the difference between Porsche's 911 Turbo and Turbo S models.
The RCT starts with a unique body kit with a new front air dam and drastically changed rear deck that combines both a small spoiler and air intake. Power is provided by a twin-turbocharged, 3.8-liter flat-six with 525 horsepower and 502 pound-feet of torque paired to either a seven-speed manual or seven-speed dual clutch transmission. That gives the Ruf a 5-hp and 15-lb-ft advantage over Porsche's own Turbo but is still less powerful than the full Turbo S. The RCT sprints to 62 miles per hour in 3.5 seconds and to a top speed of 196 mph.
However, the Ruf's big advantage is that it offers buyers the choice of either rear-wheel drive or all-wheel drive, while Stuttgart's turbo models are only available spinning all four wheels. The RCT can also offers upgrades like an integrated roll cage and custom suspension packages, should the buyer be so inclined to splash out on racing kit.

Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video: