Porsche Cayenne 2008 Gts on 2040-cars

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German automakers' stocks fall as EU investigates collusion

BERLIN/FRANKFURT - Volkswagen will hold a special supervisory board meeting on Wednesday to discuss allegations that German carmakers operated a wide-ranging cartel, a source familiar with the matter said on Monday. The European Commission said on Saturday antitrust regulators were investigating a possible German auto industry cartel following a tipoff. At stake is whether carmakers VW, Audi, Porsche, Mercedes and BMW used German auto industry committees to discuss pricing of components and technologies, and whether such talks constituted anti-competitive behavior. A VW spokesman confirmed an extraordinary supervisory board meeting would be held on Wednesday but declined to give details. German auto stocks took a hit in early trading on Monday, weighed down by uncertainty over possible antitrust fines after European regulators said they were probing cartel allegations. VW shares were down 2.8 percent, with Daimler and BMW down 3.4 percent and 2.5 percent respectively, lagging the blue-chip DAX index, which was 0.7 percent lower. Exane BNP Paribas automotive analyst Stuart Pearson said little was known about the allegations, but no signs had emerged about fixing prices charged to consumers. "More ugly details could yet emerge, leaving German manufacturers - and the EU auto sector - still firmly in the sin bin for now," he added. The car industry has been hit with billion-euro fines on both sides of the Atlantic in recent years for cartels related to various parts such as lighting systems, engine coolers and bearings. The industry's record on exhaust emissions is also under close scrutiny after VW admitted in September 2015 to cheating U.S. diesel emissions tests and investigations have shown many vehicles exceeding pollution limits outside of testing labs. On Friday, German magazine Der Spiegel said VW, its Audi and Porsche brands, Mercedes-owner Daimler and BMW may have colluded to fix prices on components, including of diesel emissions treatment systems, using industry committees. Spiegel said the talks also led to the use of smaller tanks containing AdBlue, a urea-based liquid needed to help filter nitrogen oxides (NOx) from diesel emissions. Larger tanks would have been more expensive, the magazine said. Auto industry experts, however, have said the effectiveness of exhaust filtering systems does not depend on the size of an AdBlue Tank. BMW, for example, has equipped its cars with urea injection as well as a NOx-storage catalytic converter.

2016 Porsche Cayman GT4 First Drive [w/video]

The 2016 Cayman GT4 is the sort of Porsche that purists fear would eclipse the rear-engined 911. The balance inherent in the mid-engined layout of the rigid Cayman chassis meant that it was only the right combination of horsepower and suspension away from whupping a comparable Carrera. Porsche has been very careful to keep this Cayman from doing that, despite the GT4's improvements. If you think this means the GT4 has been hobbled or hamstrung, it hasn't. Even a sopping wet track at Road Atlanta in Georgia couldn't keep us from crowning it the brash, arrogant upstart prince of the track-toy Porsches. The company got a lot right with this ultimate Cayman. To begin with, it absolutely looks the part it's supposed to play. Our tester wears searing Racing Yellow paint, that large wing looming over the rear lid is standard, and rolling stock comprises huge 20-inch wheels wrapped in Michelin Pilot Sport Cup 2 rubber. The front fascia is altered for both airflow to the radiators and downforce, standard fare for a hot track-ready version. What's unusual is that instead of complicating the look with tacked-on contrivances (ahem, like the GTS's grille insert-within-an-insert), it's simpler, subtler, and more purposeful. Between that front splitter and the wing, expect about 220 pounds of downforce at the GT4's 183 miles per hour top clip. Ergonomically, even with these fixed-back sport bucket seats, this car is nigh-perfect. Out back, things are more complicated but no less coherent. The lip spoiler that spans the trans-tailight area grows into a little ducktail, literally overshadowed by the larger rear wing. Rear diffusers are a requisite in this class, so one is present and functional. Optimized side intakes just aft of the doors cram more air into the engine, and gain a little embossed "GT4" script. Ergonomically, even with these fixed-back sport bucket seats, this car is nigh-perfect. The slightly smaller steering wheel, perfectly sized for the application, and the smooth, precise shift action make wrangling the major inputs like an extension of your own limbs. If you want to be cynical, go ahead and call the GT4 a parts-bin car. The 3.8-liter flat-six is cribbed from the 911 Carrera S, and the front suspension, steering system, and rear brakes from the 911 GT3. Want carbon-ceramic brakes? Then you'll get GT3 parts on both axles.

EVs still burning aboard ship carrying luxury cars near Azores

LISBON — Heavy tug boats on Tuesday sprayed water on a burning ship carrying thousands of Porsches and Bentleys adrift off the coast of Portugal's Azores islands, the ship's manager said in a statement. The Felicity Ace, carrying around 4,000 vehicles including Porsches, Audis and Bentleys, some with lithium-ion batteries, caught fire on Wednesday last week. The 22 crew members on board were evacuated the same day. Ship manager Mitsui O.S.K. Lines Ltd (MOL) said in a statement the vessel was still on fire but stable, and that no oil leak had been reported so far. It also said the ship was drifting further from the Azores islands in the Atlantic Ocean. Two large tug boats equipped with firefighting gear arrived from Gibraltar on Monday, and were working with another patrol boat to spray water at the Felicity Ace and cool it down, MOL said. The arrival of two other tug boats with more firefighting equipment is scheduled for Feb. 23 and Feb. 26. "Together with the all relevant parties, MOL is making every effort to contain the damage and resolve the situation as soon as possible," MOL said. Joao Mendes Cabecas, the captain of the nearest port on the Azorean island of Faial, said on Sunday the fire had lost its intensity, probably because there was little left to burn. Cabecas said as the fire subsides and the structure cools down, firefighting teams and technicians might be able to board the vessel to prepare to tow it either to Europe or the Bahamas. "When conditions are safe the salvage team will board the Felicity Ace for an initial assessment," MOL added. Cabecas told Reuters over the weekend the lithium-ion batteries in the electric vehicles were "keeping the fire alive." It was not clear whether the batteries had caused the fire. MOL did not immediately respond to a Reuters request for comment on the cause of the fire. Volkswagen, which owns the car brands, said on Monday it did not have any further information to share. Green Bentley Porsche Volkswagen Electric Luxury ev fire