Porsche rejects VW 'ultimatum' for merger plan Jun 28, 2009
German sports car maker Porsche rejected Saturday an "ultimatum" issued by rival Volkswagen to accept by Monday a proposal for cross-ownership leading eventually to a merger. BERLIN (AFP) - German sports car maker Porsche rejected Saturday an "ultimatum" issued by rival Volkswagen to accept by Monday a proposal for cross-ownership leading eventually to a merger ... However Wolfgang Porsche, head of the company's supervisory board, said he was willing to discuss the proposal in private "and not... (Yahoo! Asia News)
Porsche gets ultimatum by VW, Saxony Jun 28, 2009
Porsche fumes at VW, Lower Saxony 'extortion'- International Business-News-The Economic Times ... Porsche fumes at VW, Lower Saxony 'extortion'28 Jun 2009, 1244 hrs IST, REUTERS ... Der Spiegel magazine reported in its online edition on Saturday, that Porsche Chief Executive Wendelin Wiedeking and Chairman Wolfgang Porsche had been pressed to agree by the end of June that VW take a 49 per cent stake in Porsche's sports car business for 3-4 billion euros ($4. (India Times)
Forecasters see good news (by recession standards) in June auto sales Jun 27, 2009
"Many families are rediscovering minivans as the most practical and least costly way to transport people and things. say they're also seeing "marked improvement" in auto sales for June, although their annual rate forecast is not as rosy as Edmunds' --still just shy of the 10 million mark. The data tracker says consumer confidence is starting to rise, and market uncertainty is easing, making more consumers willing to take advantage of the steep rebates out there.Photo of Grand Caravan by... (USA Today -- Money)
Porsche Says Talks With Qatar Over Investment Have Entered `Final Stage' Jun 27, 2009
Porsche, Qatar Investment Talks Are in Final Stage (Update2) - Bloomberg ... Porsche, Qatar Investment Talks Are in Final Stage (Update2) ... The due diligence process conducted with the Persian Gulf state has led to a positive conclusion, , a spokesman for Porsche, said in a telephone interview today. (Bloomberg -- Germany)
Best Looking German Cars of 2009 Jun 26, 2009
Stunning Vehicles by Audi, BMW, Mercedes, Porsche and Volkswagen ... The top five German car producers are clear - Audi, BMW, Mercedes, Porsche and Volkswagen - largely because these same brands are pretty much ubiquitous amongst the top vehicle manufacturers worldwide ... That BMW smile; those Porsche eyes - they've been catching our attention for the better part of the last century. (Suite101.com)
Daimler Fights for Its Future Jun 26, 2009
Daimler is seeking a partner, and for years it has been talking to BMW (), Toyota (), Peugeot () and now Porsche () ... Perhaps Daimler could invest in Porsche, also headquartered in Stuttgart, instead of the Emirate of Qatar. (BusinessWeek)
Report: China likely to reject Hummer acquisition Jun 26, 2009
Place an obit: (559) 441-6228. Web Search powered by YAHOO. (Fresno Bee -- Business)
VW and Porsche accelerate on Qatar talk Jun 25, 2009
and shares surged in late afternoon trading on Wednesday amid market rumours that Porsche was nearing a deal with Qatar to give the Gulf state its 24 per cent shareholding in Volkswagen. The heavily indebted sports car maker has been rumoured to be in talks with the Middle Eastern state for weeks on possible investment opportunities. (FT.com -- Markets)
Despite financial woes, Detroit's vehicle quality improved Jun 24, 2009
Lexus came in first in the annual study, overtaking Porsche which had been at first place for three years ... He revels in the exhaust note of a Maserati and the sharp creases of a Cadillac CTS. Chris strives to live a Porsche life on a Scion budget. (USA Today -- Money)
The Warring Porsche-VW Bloodlines Explained Jun 24, 2009
I recently the Porsche-Volkswagen takeover merger Teutonic family melodrama. As oftoday, its looking like Porsche is still trying to extract itself from a reverse takeover by wooing a few billion from Qatars sovereign wealth fund. (Slate)
Four-cylinder Porsche? Jun 23, 2009
Porsche looks at four-cylinder Boxster, Cayman - www ... Porsche looks at four-cylinder Boxster, Cayman ... A mooted four-cylinder engine could bring lower fuel economy and emissions for the Porsche Boxster and its hard-top sibling, the Cayman. (Sydney Morning Herald -- Technology)
U.S. car quality jumps Jun 23, 2009
Asian nameplates continue to lead the pack, though, with buyers of Lexus vehicles, Toyota's luxury brand, experiencing the fewest problems, followed by Porsche. Another big surprise came from South Korean Hyundai, ranking as the best non-luxury brand and beating out both Honda and Toyota. (CNN -- Money)
Tesla's Musk fires back at Eberhard Jun 23, 2009
"The reality is that I spent considerable time on the details of the product and particularly the body styling you will see elements of two of my favorite cars (Porsche and McLaren F1) in the Roadster body but left most day to day management of the company up to Eberhard.". Eberhard in the lawsuit claims he was forced out of the company he helped to start and was then denied the severance his contract called for. (San Jose Business Journal, CA)
Detroit Closes in on Toyota in Key Quality Measure Jun 23, 2009
Toyota Motor Corp's Lexus brand took the title for highest quality followed by Porsche. General Motors Corp's Cadillac was No. 3 in J.D. Power's Initial Quality Study. (ABC News -- Wire)
J.D. Power: US Automakers Increase Quality but Still Trail F Jun 23, 2009
Porsche was the No. 2 brand, followed by GM's Cadillac, then Hyundai and Honda. Toyota, which supplanted General Motors Corp. as the world's largest automaker last year, also swept 10 vehicle segment awards. (Fox News)
Business Highlights Jun 23, 2009
At a time when Detroit is desperate to start turning out cars and trucks that people want to buy, the top two brands in the J.D. Power study were foreign cars: Lexus, Toyota's luxury line, and the Porsche. GM's Cadillac finished third. (Fresno Bee -- Business)
Goodies for dad a big $9B ka-ching Jun 22, 2009
Rank of the Porsche Cayman S on the list of best cars for a solo flight: 1. Rank of the Ford F-150 on the list of best vehicles for a towing trip: 1. (Honolulu Advertiser)
* Qatari interest leads to family drama at Porsche Jun 22, 2009
Qatari interest leads to family drama at Porsche ... Qatars prime minister has unintentionally fueled a family feud among the owners of German luxury sports car maker Porsche, the future of which is threatened by a takeover bid for Volkswagen ... Porsche confirmed recently that it was in exclusive talks with Qatar on investing in the heavily indebted maker of the 911 sports car. (Taipei Times, Taiwan -- World)
German bank opposes massive loan to Porsche Jun 21, 2009
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'Volkswagen sees positive Q2 results' Jun 21, 2009
BAYREUTH: Germany's Volkswagen will have a "positive result" in the second quarter and would consider giving sports car maker Porsche a loan if asked, VW's chief financial officer Hans Dieter Poetsch said on Saturday ... Asked whether VW would consider giving troubled Porsche a loan, Poetsch said: "One would have to examine such a case if it arose." ... Porsche amassed a 9 billion euro debt 00004000 pile in an aborted attempt to acquire 75 percent of VW votes, and has looked to rescue itself by... (India Times)
Porsche May Fail to Avoid Volkswagen's Grip, Even With Qatar Taking Stake Jun 21, 2009
Porsche May Fail to Avoid VWs Grip, Even With Qatar (Update3) - Bloomberg ... Porsche May Fail to Avoid VWs Grip, Even With Qatar (Update3) ... Porsche may sell as much as 25 percent for 2. (Bloomberg -- Germany)
It's Riversimple, stupid Jun 21, 2009
A new hydrogen car designed for use in cities and backed by a relative of the founder of German luxury sportscar maker Porsche was unveiled in London on Tuesday ... The project involves Sebastian Piech, a great-grandson of Ferdinand Porsche, who founded the famous German car company in the 1930s. (iAfrica.com)
Daimler in talks to buy stake in Porsche: report Jun 20, 2009
German car maker Daimler is in advanced talks to buy a stake in sports car maker Porsche, German magazine "manager magazin" reported on Friday on its website, citing financial sources. Daimler chief executive Dieter Zetsche and Porsche CEO Wendelin Wiedeking had already discussed potential options at the end of May, manager-magazin ... A spokesman for Daimler called the report "pure speculation" and a Porsche spokesman said he had no knowledge of talks with Daimler. (Sydney Morning Herald -- Business)
Pastime peril Jun 20, 2009
Page last updated at 11:07 GMT, Friday, 19 June 2009 12:07 UK. The value of a hobby. (BBC News -- UK)
Porsche struggles with $12m debt Jun 20, 2009
Global Porsche sales slump 28 ... Big gains on derivative bets linked to Volkswagen shares have offset a decline in nine-month earnings at Porsche's core sports car business ... Porsche, scrambling to shore up its tattered balance sheet, blamed lower volumes and revenue, as well as investments on its upcoming model line and hybrid power-train technology. (BBC News -- Business)
Porsche falls on debt concerns Jun 20, 2009
Porsche, burdened by e9 billion (R105bn) in net debt, fell as much as 7. 2 percent yesterday after the car maker said it was continuing talks about raising an additional e1. (Business Report, South Africa)
Porsche global sales slump by 28% Jun 20, 2009
Porsche global sales slump by 28. Porsche has been hit hard by the global recession ... Porsche has seen its nine-month unit sales slump by more than a quarter after demand for its cars was hit by the worldwide recession. (BBC News -- Europe)
Nanotube secrets of Damascus steel blade Jun 19, 2009
Former Wimbledon favourite recalls buying a Porsche on impluse. More amusing signs sent in by readers on their travels. (Yahoo News -- Nanotechnology)
Porsche in VW's grip, despite Qatar stake Jun 19, 2009
Porsche may find its alliance with Qatar will hasten a takeover by Volkswagen AG.. Plans to sell a stake to the Persian Gulf state would bolster Porsche's finances enough to raise the sports-car maker's attraction for Volkswagen, and give Qatar a path into Europe's largest carmaker ... Porsche may sell as much as 25 per cent for 2. (Sydney Morning Herald -- Business)
'Porsche sales shed 4.6 bn euros' Jun 19, 2009
Porsche 9-month sales shed 15% to 4 ... Porsche 9-month sales shed 15% to 4 ... FRANKFURT: Sales at the German luxury sports-car maker Porsche plunged by 15 per cent in the first nine months of its fiscal year to 4. (India Times)
Porsche dabbles in diesel Jun 18, 2009
Porsche Cayenne Diesel - www ... Porsche Cayenne Diesel ... 2009 Porsche Cayenne Diesel. (Sydney Morning Herald -- World)
Plug-in Toyota Prius treks from Florida to Washington, D.C., on 9 gallons of gas Jun 18, 2009
"This (is) technology that's here today.Kearney took back roads all the way so he didn't reach speeds that would cause the gas engine to kick in. Kearney says the electric plug-in would be useful for people with a daily commute to work. Photo of Kearney flanked by left, U.S. Rep. Tom Rooney, R-Fla., and dealer Stewart in Washington, as supplied by StewartTags: PreviousNextTo report corrections and clarifications, contact Reader Editor . For publication consideration in the newspaper, send... (USA Today -- Money)
Rare Sighting: Self-Titled 'Spam King' Shows Up in Court for Facebook Suit Jun 17, 2009
In one of the most famous ploys, AOL raffled off a Porsche it managed to seize from a spammer ... Raffling off a tiny little hatchback probably won't have the same PR effect as the Porsche. (Law.com)
Porsche's Piech Raises Qatar Stake Sale Doubts: FTD Jun 17, 2009
FRANKFURT (Reuters) - Ferdinand Piech, a co-owner of Porsche , is resisting a quick decision to let the Gulf state of Qatar take a minority stake in the German automotive group, the Financial Times Deutschland reported. It said on Wednesday that Piech, a member of the extended family that controls 100 percent of the voting rights in Porsche and who is also chairman of its Volkswagen unit, had raised doubts about the deal at a family meeting on Monday ... The paper quoted a Porsche spokesman as... (ABC News -- Wire)
OPEN ROAD: A closer look at Koenigsegg Jun 17, 2009
" Also, be sure to check out our .What can Koenigsegg do withbigSaab. Our answer? Employ his car-guy guts to the product line and restore the personality that made Saab cars unlike any other the world before they were homogenized by GM. Do you agree or disagree? Weigh in here or on the forum.Photo of von Koenigsegg at a 2007 car show with his CCX supercar, by Adam Ihse/GettyTags: PreviousNextTo report corrections and clarifications, contact Reader Editor . For publication consideration in... (USA Today -- Money)
Emissions claim Jun 17, 2009
A large part of the funding for the car's development came from the family of Ernst Pi ch, the eldest grandson of Ferdinand Porsche who founded the motor company of the same name in 1931. Ferdinand Porsche's great-grandson Sebastien Pi ch is a partner in Riversimple. (CNN -- International)
Notebook: Goodyear finally satisfied with tire Jun 17, 2009
Kyle Busch and Scott Speed will co-drive a second Lexus-powered sports car for Chip Ganassi Racing at the Brumos Porsche 250 July 4 at the Daytona International Speedway. The NASCAR Sprint Cup Series regulars will drive in the race for prototypes and sports cars on the 3. (Athens Banner-Herald)
Prototype car promising equivalent of 106 kilometers/liter? Jun 17, 2009
SHANGHAI: Britain-based Riversimple, a company founded by former race car driver Hugo Spowers and backed by Porsche scion Sebastian Piech, Tuesday unveiled the prototype for a two-seat, hydrogen powered car promising fuel consumption equivalent to 360 miles per gallon (106 kilometers/liter) ... The research was supported by the British gas company BOC Group PLC and the Piech family, including Sebastian Piech, a great-grandson of Porsche founder Ferdinand Porsche. (The Star Online, Malaysia)
Virginia International Raceway's Historic Races Honors Ford Heacock III Jun 16, 2009
The first Gold Cup was awarded to Carroll Shelby at the track's fiftieth reunion year of 1957, the second recipient was the late Henry Payne III, a Porsche driver and long time vintage racer. The Gold Cup Historics Races were held at the VIRginia International Raceway, a multi-purpose road racing facility, located on the Dan River between Danville and South Boston. (Chatham Star Tribune, VA)
Out of the Office Jun 16, 2009
By the time he was fifteen, he had an apprenticeship in a Porsche repair shop, and soon he was retrofitting his aging Volkswagen Beetle with an engine designed to make it do all sorts of things that Volkswagen Beetles aren t meant to do, like go fast. He studied physics at the University of California at Santa Barbara, worked as an electrician, and then earned a doctorate in political philosophy from the University of Chicago, although he found himself increasingly distracted by an ambitious... (New Yorker)
Spain's Gene, Peugeot win 24 Hours of Le Mans Jun 16, 2009
It was the second victory at Le Mans for Wurz, who won in a Porsche in 1996. The two Peugeots were challenged by Audi's No. 1 car until the 21st hour. (SportsIllustrated.CNN -- Racing)
Baywatch lifeguards' Ford Escape Hybrids save 5,000 gallons of gas Jun 6, 2009
He revels in the exhaust note of a Maserati and the sharp creases of a Cadillac CTS. Chris strives to live a Porsche life on a Scion budget. Most popular topics. (USA Today -- Money)
GM bankruptcy leads to shakeups in the auto world Jun 6, 2009
"If you look at a company like Porsche, the most successful car companies in the world are small.". lect> Add your comment (max {maxchars} characters) You must be logged in to leave a comment. (Yahoo News -- Auto Racing)
Appeals Court Approves Chrysler's Sale to Fiat- GM's Fall Opens Doors for Foreign Carmakers Jun 6, 2009
"If you look at a company like Porsche, the most successful car companies in the world are small.". FOX NEWS VIDEOS. (Fox News)
Wheelin' And Dealin' Jun 6, 2009
Penske's publicly traded Penske Automotive Group is the second-largest auto retailer in the US, specializing in more than two dozen luxury brands including Mercedes-Benz, BMW, Audi, Porsche, Ferrari, Lexus, Acura, Land Rover, Bentley and Rolls-Royce. Locally, the company owns dealers throughout the Tri- State area. (New York Post -- Business)
Ask the Auto Doctor Jun 6, 2009
Dear Doctor: I have a 1985 Porsche 911 Carrera that began showing problems with the tachometer ... The technician said he has seen a lot of failed tachs on older Porsches due to high voltage caused by failing voltage regulators (voltage as high as 22 volts). (Helena Independent Record)
Penske-Saturn deal Jun 6, 2009
"If you look at a company like Porsche, the most successful car companies in the world are small.". This document was originally published online on Saturday, June 06, 2009. (Pocatello Idaho State Journal, ID)
2009 Audi A4 Jun 4, 2009
In some cars -- the Porsche 911, for instance -- the adjustable suspension buttons don't seem like they are connected to anything. The effect is too subtle for most buyers to appreciate. (FOX61, CT)
Exeter grads, UNH students have 'Wicked Clean' business Jun 3, 2009
"A high-end detail, such as a Porsche, can take five to seven hours. A Ford Ranger in need of just a thorough exterior cleaning might take two hours.They detailed four cars over 13 hours one day last week, a tough schedule that still accommodates outside interests, such as Gauvin's attending flight school.Looking to the futureSince starting last summer, Gauvin and Wright have put together a business plan that will require some outside funding to take Wicked Clean to the next level."What we're... (Seacoast New Hampshire)
Subaru sales fall 5% in May Jun 3, 2009
Sales declines reported Tuesday ranged from Ford s drop of 24 percent to performance-car maker Porsche s 29 percent fall. Subaru has managed to hold on to a larger percentage of its sales than the big automakers throughout the recession. (Philadelphia Business Journal, PA)
PM Says Qatar Still Studying Stake in Porsche May 31, 2009
DOHA (Reuters) - Qatar is still considering taking a stake in debt-laden Porsche , or other German auto companies, after the carmaker scaled down a bid for Volkswagen , the prime minister said on Saturday. "This subject is under study," Sheikh Hamad bin Jassem al-Thani told Reuters when asked about the status of Qatar's interest in a stake in Porsche or other German carmakers ... German weekly magazine Focus reported earlier this month the Emir of Qatar was a possible investor in the proposed... (ABC News -- Wire)
BMW M3 GT2 Races onto the Front Cover of Need for Speed SHIFT from EA May 30, 2009
2008 Porsche 911 GT2. 2009 Porsche 911 GT3 RSR ... 2006 Porsche 911 GT3 RS. (Yahoo! Wire -- Entertainment News)
French police in hunt for UK man May 29, 2009
"The man had arrived in a Porsche, according to the hotel staff, and he and the car disappeared before the alarm was raised. "This couple were clearly wealthy. We are still trying to piece together the sequence of events leading up to their arrival separately at the Bristol Hotel. (BBC News -- UK)
First drive: BMW Z4 May 29, 2009
However I think the tail of the car looks too similar to a Porsche Boxster and with the top up you could be mistaken for having stolen the Jetsons' space bubble. Behind the wheel. (iAfrica.com)
Will Chinese consumers rescue economy? May 28, 2009
Carmakers decided to use Shanghai as the launching point for 13 new models, most notably Porsche introduced its first four-door sedan, the Panamera, flanked by Chinese models and surrounded by a rapturous crowd of the world press. It's telling that such an important debut took place in China, rather than the company's home in Stuttgart-Zuffenhausen, where the German automotive industry is being buffeted by the high winds of the credit crisis. (CNN -- International)
P.J. O'Rourke is 'Crazy' about the car culture May 28, 2009
I have an old Porsche. My wife has a BMW convertible. (USA Today -- Life)
Auto Hoopla: The Roundup May 28, 2009
Meanwhile, Porsches attempt to take over Volkswagen. In fact, it now appears that VW will be swallowing Porscheunless Porsche can somehow get its hands on an $8 billion VW cash hoard thats controlled by the government of Lower Saxony, where VW is based. (Slate)
Porsche $24 Billion of Options Profit in Peril as Volkswagen Fights Merger May 27, 2009
Porsches $24 Billion Options Gain at Risk in VW Bid (Update3) - Bloomberg ... Porsches $24 Billion Options Gain at Risk in VW Bid (Update3) ... Porsche bought options and Volkswagen stock for more than three years and controls more than 70 percent of Europes biggest automaker. (Bloomberg)
China auto sector taking off May 27, 2009
Mercedes-Benz, BMW and Porsche all unveiled new-vehicle models in Shanghai. "The center of gravity is moving eastward," Dieter Zetsche, chairman of Daimler, said at the show. (Honolulu Advertiser)
Porsche's smartest run out of options May 27, 2009
Porsche, which is struggling to combine with Volkswagen (VW), may lose some of the 17 ... Porsche has piled up more than 9bn in debt and has not been able to raise the funds, even after the options contracts surged in value with the sevenfold gain in VW shares since 2005, according to analysts ... Porsche is trying to negotiate a merger with VW. It is seeking an investor to provide cash after its bid fell apart last year, when VW's home state of Lower Saxony vetoed the proposal. (Business Report, South Africa)
Drewer chasing a DREAM May 26, 2009
"But my main goal is to emulate my fellow Australian drivers, like David Brabham, who's now racing in the American LeMans Series, (NASCAR Sprint Cup driver) Marcus Ambrose, and Vern Schuppan, the only Australian to win the 24 Hours of LeMans, which he did in a Porsche.". Besides family and friends, Drewer said the only thing he really misses from back home is the beach. (Athens Banner-Herald)
Hot deals! Chrysler, Dodge and Jeep motivated to sell May 26, 2009
"The click takes you to urging them to call or write President Obama or their representative or senator.Photo of Frank Valencic Jr. standing in the showroom at the Tomsic Motor Company, a Chrysler and Jeep dealer in Washington, Pa., earlier this month, by Keith Srakocic/AP. Owner Valencic had just learned at lunchtime that Chrysler plans to pull the plug on the four generation family-owned dealershipTags: PreviousNextTo report corrections and clarifications, contact Reader Editor . For... (USA Today -- Money)
Porsche fights off bankruptcy talk May 26, 2009
German luxury sportscar maker Porsche sought to deflect talk of bankruptcy on Monday after acknowledging it had borrowed hundreds of millions of euros from Volkswagen and needed billions more. A spokesman for Porsche - producer of the iconic 911 sportscar - confirmed a report in Der Spiegel magazine that it had secured a loan of E700 million ($1 ... "Porsche is not on the verge of bankruptcy," he added. (Sydney Morning Herald -- Business)
European exchanges slide May 25, 2009
Automaker Porsche fell 6 ... Volkswagen, with whom Porsche is trying to merge, was down 1. (Yahoo News -- Press Releases)
Why Do They Race? May 25, 2009
For Porsche and Ferrari, longtime motorsport rivals, this is critical-people buy their cars on the assumption that large chunks of what worked on the track have found their way into the street-legal vehicles. Elsewhere, this type of cred is increasingly unimportant. (Slate)
