2006 Porsche Turbo on 2040-cars

Auto blog

$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Porsche busts out new Boxster GTS and Cayman GTS

Baby 911. The poor man's Porsche. That's what they called the Boxster when it debuted some 20 years ago. They said the same of the first Cayman when it arrived a decade later, but they stopped saying it when the latest iterations hit the scene two years ago. That's because Zuffenhausen's entry-level models have long since stepped out of their big brother's shadow and into their own. And that's all the more true of the new Boxster GTS and Cayman GTS.
Based on the Boxster S and Cayman S, the new GTS models benefit from an enhanced 3.4-liter flat six that produces 330 horsepower and 273 pound-feet of torque in the roadster or 340 hp and 280 lb-ft in the coupe - representing an increase of 15 hp and 7 lb-ft in either model. Both also come with the Sport Chrono package as standard, along with adjustable suspension and 20-inch alloys, blacked out to match the dynamic headlight surrounds and other muted trim.
Those disappointed by the unavailability of a manual transmission in the fire-prone 911 GT3 will be pleased to note that a six-speed manual comes standard, but those enamored of letting a pair of clutches shift themselves seamlessly will want to spring for the optional seven-speed DCT. So equipped and with launch control engaged, the Boxster GTS will rocket from a standstill to 62 miles per hour in 4.7 seconds, while the incrementally lighter, more powerful Cayman will hit it in 4.6. Either way you're looking at a third of a second quicker than the Boxster/Cayman S. There's also a 20-millimeter lowered suspension on offer for track-day enthusiasts.

Porsche announces plan to replace 911 GT3 engines

About a month back, we reported that Porsche was suspending delivery of its 911 GT3 due to reported incidents of the engine bursting into flames. A few days later, Porsche told owners of the new track-ready models not to drive their cars and had their local dealers pick up the cars in question. Just a couple of days ago, we reported that Porsche was working on a fix, and now we have the official details.
Following an internal investigation prompted by two such incidents, Porsche has confirmed that is has identified the problem as resulting "from a loosened screw joint on the connecting rod." The loose connecting rod, Porsche found, damaged the crankcase, which in turn resulted in oil leaking and then - in at least two cases - igniting.
Our source is unaware of Porsche being contacted by GT3 owners concerned about the impact of a replacement engine on their car's collectibility or resale value.