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Porsche Panamera wagon won't come to America until 2018

Porsche has teased us with a wagon version of the Panamera for years now. First as the Panamera Sport Turismo concept at the 2012 Paris Motor Show, and more recently we've seen prototype spy photos of extended rooflines Panameras as well. Now Automotive News confirms that the wagon is not only in the works, but that it will be sold in North America. "We have to have some patience for [the wagon] to arrive in the U.S.," Porsche Cars North America CEO Klaus Zellmer told AN. "But we are confident that this car will be well received here, despite the fact that this country doesn't really like hatchbacks or wagons." Wagons are particularly popular in Germany, encouraging local automakers to continue developing and producing them even as they expand their crossover offerings. Only some of those make their way across the Atlantic, however. Though Audi, for example, offers Avant wagon versions of its A4 and A6 models, it brings only the latter over in ruggedized Allroad trim. Mercedes similarly offers wagon versions of the C-Class, CLA, and CLS back home, but only sells the E-Class wagon in America. And BMW keeps the Touring version of its 5 Series back home while brining over only the 3 Series wagon. Porsche is slated to reveal the new Panamera in four-door form at the Paris show in September, with the wagon version to hit the European market sometime next year. Don't expect to see the five-door model in US showrooms, then, until 2018 at the earliest.

Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.

Son of Porsche 911 designer recalls 1963 Frankfurt debut

The Goodwood Revival is described by its presenters as the greatest motorsport racing party of the year. We often focus heavily on the motorsports, but you can't forget about the party. For the first preview of the new 911 Turbo in the UK, Porsche recreated its booth from the Frankfurt Motor Show in 1963 - the time and place of the original 911's public debut.
Porsche's cameras also caught up with Mark Porsche, the great grandson of Dr. Ferdinand Porsche and son of the late Ferdinand Alexander "Butzi" Porsche, who oversaw the design of the 911. Mark Porsche admires the 911's friendly design, which is set off by the round headlights, and says his mother, who was at the original Frankfurt booth in 1963, was milling around the booth at Goodwood - no doubt taking a trip down memory lane.