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Former Porsche execs acquitted of stock manipulation charges

A German court acquitted former Porsche CEO Wendelin Wiedeking and former CFO Holger Harter of stock manipulation charges, according to Bloomberg. Prosecutors alleged the men hid plans to takeover Volkswagen while publicly denying their intentions to investors. The presiding judge didn't find any merit to those claims, though. "There is nothing to the allegations, absolutely nothing," Judge Frank Maurer said, according to Bloomberg. "There was no secret plan to take over VW." Rather than Porsche taking over VW, the exact opposite eventually happened, and both execs stepped down. Investigators first indicted Wiedeking and Harter for alleged stock manipulation in late 2012. A court in Stuttgart dismissed the case in 2014 because of a lack of evidence, but an appeals court later overruled that decision. The current trial finally began in October 2015. If convicted, Wiedeking faced up to 30 months in prison, and Harter could have received up to 27 months, Bloomberg reported. Prosecutors also wanted one million euro ($1.1 million) fines from them and 807 million euros ($910 million) from Porsche. The acquittal might not be the end of this long-running case, though. In Germany, prosecutors have the right to appeal a ruling, and the lawyer hasn't made a final decision yet. If the court thinks there's a reason, the former execs could be back in front of a judge at some point in the future.

Porsche planning Cayman GT4 racer

To say that Porsche is big in racing is like saying that Warren Buffett dabbles in mergers and acquisitions. But while it fields the 919 Hybrid at Le Mans and in the FIA World Endurance Championship, the bulk of its racing activities are undertaken by private teams that buy customer racecars from the factory. Those in turn are largely based on the 911, but the latest intel from the motor racing world indicates that Zuffenhausen is planning a more accessible customer race car.
The new, more affordable competition car is to be based on the Cayman and built to GT4 specifications, slotting in below the 911-based GT3 Cup, GT3 R and RSR. Autosport reports that Porsche has already developed a prototype and will shortly commence testing. Details are scarce at the moment, but the Cayman GT4 would seem to compete against the likes of the Aston Martin Vantage N24, Nissan 370Z Nismo GT4 and Maserati GranTurismo MC. It will also likely help Porsche foster enthusiasm for a potential road version that's already been spotted undergoing testing. Previous GT4 racing conversions of the Cayman, like the one pictured above, were carried out by third-party racing constructors not recognized by the factory.
Porsche may not be the only one showing interest in the category, however. BMW is said to similarly be considering a GT4-spec version of its M235i Racing model to compete in the same class, taking the place of the defunct M3 GT4 as the Bavarian marque's entry-level customer racing car.

Editors’ Picks July 2022 | Volvo XC60, 911 GT3 and a hot Hyundai

This latest rendition of Editors’ Picks sees us recognize some enthusiast-focused vehicles on both sides of the price spectrum and a luxury SUV. The 911 GT3 was an easy shoo-in, but the Hyundai Elantra N is what surprised us the most. WeÂ’re sad to see the Veloster N bow out after this year, but at least the N model in its place is a worthy one. In case you missed our previous Editors' Picks posts, hereÂ’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get EditorsÂ’ Pick status. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in July that earned an EditorsÂ’ Pick. 2022 Volvo XC60 2022 Volvo XC60 Recharge View 36 Photos Quick take: The Volvo XC60 is one of our favorite luxury crossovers, and the PHEV option is a killer setup. We dig the interior design, and the exterior is attractively Swedish, too. Score: 7.5 What it competes with: Alfa Romeo Stelvio, Genesis GV70, Jaguar F-Pace, BMW X3, Mercedes-Benz GLC-Class, Audi Q5, Lexus NX, Acura RDX, Volvo XC60, Lincoln Corsair, Infiniti QX50, Porsche Macan Pros: Great design, epic PHEV option, intriguing interior design options Cons: Tech can be cumbersome, big wheels lead to a stiff ride From the editors: Road Test Editor Zac Palmer — "When it comes to plug-in hybrids, there's no better compact crossover option than the XC60 Recharge. I really dig the extra-powerful electric motor and larger battery Volvo added this year. The interior wool option is my pick of the bunch, but I am a little disappointed that there aren't as many physical buttons throughout the interior as there were before." News Editor Joel Stocksdale — "Although it's got some age, the Volvo XC60 is still an excellent premium SUV. It's as handsome as ever with its clean, modern design inside and out, and feels genuinely luxurious. But what really sets the XC60 apart is its available plug-in hybrid powertrain. It's smooth and refined, and best of all, it's still great in electric mode.