Porsche

Porsche cars

For the most part, business deals are massaged with care and come together with relative ease and little drama. We guess the Germans must do things a little differently, as the VW takeover of Porsche was anything but easy and drama-free. In fact, it was closer to the exact opposite.

Seven years ago, Porsche was sitting pretty and decided it wanted to expand, but bit off way more than it could chew when it tried to buy out Volkswagen Volkswagen . This attempted takeover split Porsche’s ownership group and eventually resulted in Porsche falling into extreme debt and abandoning the takeover plan.

In 2009, the script flipped and VW ended up indirectly owning 49.9 percent of Porsche and striking an agreement in 2009 to buy up the remaining 50.1 percent. That agreement turned south when VW realized that the resulting tax payments for the purchase were its responsibility. Well, after some nifty dance steps with the taxman , VW managed to avoid paying taxes on the purchase and the deal was all but complete.

Now we can finally announce that the deal is 100 percent complete, and VW is now the sole owner of Porsche AG. The total purchase deal is going to send €4.46 billion ($5.59 billion) and a single common share of VW stock to Porsche SE. Volkswagen plans to integrate Porsche into its automotive group on August 1, 2012. Porsche SE will also receive an additional €320 million ($401 million) in lost dividend payments and net synergies, due to the rapid integration of Porsche AG into VW’s ownership group – basically VW is paying off Porsche SE to gain quicker control of its automotive group.

With this, VW’s impressive automotive group grows yet again. We are starting to wonder how big Volkswagen AG can really get before it’s too big for its own good.

Click past the jump to read the full and complicated presser from VW.

In its standard version the Porsche Panamera Diesel is powered by a 3.0 liter V6 diesel engine that delivers a total of 250 HP. Good, but not very impressive for a luxury sedan like this. So, this is where the German tuner TechArt comes into focus. The tuner has just unveiled a pretty cool tuning package that increases the output from 250 HP to 280 HP (a 30 HP increase). Peak torque goes from 405 lbs-ft to 442 lbs-ft.

For 2,490 euro (or $3,130 at the current exchange rates) clients will get an ECU upgrade and a Techtronic system. As a result the car will sprint from 0 to 60 mph in just 6.6 seconds and up to a top speed of 153 mph.

The tuner is not offering any exterior or interior upgrades for the car, but the Panamera looks pretty cool from factory and it needs no changes to be made.

A decade ago, Porsche opened up a brand new factory in Leipzig, Germany and the first vehicle to roll off of its line was a spankin’ new Cayenne . Whether by dumb luck or precision planning, the 500,000th vehicle to roll off of that same production line just happened to be a Cayenne – a white Cayenne S, to be precise.

Instead of just slapping a window sticker on it and sending it off to some random dealership to be lost forever in the shuffle of new cars, Porsche did something special. It took this brand new Cayenne S, which carries an MSRP of $65,000, wrapped it in a special red foil for the fire brigade in Leipzig, fitted it with a light bar and handed the keys over to the Leipzig’s mayor free of charge.

This vehicle is intended to act as a command vehicle for said fire brigade, and with its 4.8-liter V-8 engine that pumps out 400 ponies and 369 pound-feet of twist, we doubt that this new Porsche fire truck will have any issues being the first at any scene.

The Leipzig plant is already producing a record number of vehicles each year for Porsche, and the soon-to-be fully Volkswagen-ized sports car company is set to add another model to its workload, the Macan , which is due to start production in the Leipzig plant in 2013. In no time at all, the Leipzig plant will be hitting the 1,000,000-car mark and we are wondering how Porsche plans to celebrate that mark.

All around, this is just a classy gesture on Porsche’s part. Few automakers really understand how much their factories and the cities that house them affect their success. It’s obvious that Porsche does not have any problem recognizing the little guy.

The link between Brumos and Porsche dates back to the 1950s, when it was one of the first Porsche dealers to purchase cars from Porsche of America. In the 1960s, Brumos, under the direction of its new owner, took the company from a dealership to the top of the racing world with its high-performance Porsches.

Brumos went on to become one of the most successful racing teams in road racing history and in Porsche history. In 2011, Brumos had yet another great racing season, taking home the Rolex GRAND-AM GT Championship and adding to its legacy. In commemoration of this victory, Brumos is having five special edition 2012 Porsche 911 GT3 Cup racecars manufactured and they will offer them for sale in their dealership in Jacksonville, FL.

This just isn’t any old GT3 Cup car that a racing team can order from Porsche. This one is special in many ways, including a nice bump in power and some special styling specially ordered by Brumos. The big question is whether this is a true performer on the track or if this is nothing more than a pretty trailer queen to haul to car shows.

Click past the jump to read our full review on this special edition 911 GT3 Cup and find out the answer to that important question.

Porsche "Baby" Boxster

There’s been more rumors about the supposed baby-Boxster then there have been about any of Charlie Sheen’s exploits, regardless of whether any or all of them were true or not. We had gotten to the point where we just didn’t know what to believe anymore, but Porsche AG sales chief, Bernhard Maier, has come to save our spinning heads by declaring that the Baby Boxster has been buried. According to him, Porsche has no plans of building a car smaller and cheaper than the Boxster because the company wants to maintain its exclusivity.

That decision was made despite Porsche’s plans to sell 200,000 cars a year by 2018. According to Maier, that goal will be achieved just by building sports cars and nothing else. He also said that in order to achieve exclusivity, the company will always offer "one car fewer than the market is able to handle."

"To build a Porsche for 30,000 euros currently doesn’t fit our brand," said Bernhard Maier in an interview with Automotive News Europe. "The extraordinary purchase experience is not for free and the entry price is currently covered with the Boxster and in the future by the Macan."

We’re not sure if we’re buying this or out. We’re thinking that the Baby Boxster has just been put on hold - as previous rumors have stated - because Porsche has already admitted that the current generation just wasn’t ready for this type of sports car. If the next generation fits the mold for a Baby Boxster, then you can be darn sure Porsche is going to dig out those designs and restart the production process again.

We hate to say we told you so… Wait who are we kidding? We love to say we told you that our article about oft-troubled Lindsay Lohan crashing her rented Porsche would not be the last thing we’d hear about the accident. According to TMZ, Lohan was forbidden to drive any car at the time she was in the accident.

You see, Ms. Lohan has a bit of a, um, drinking problem and with that problem tends to come her urge to get behind the wheel of a motorized vehicle. To help prevent that and preserve the filming of her ongoing Lifetime series “Liz & Dick,” the company insuring the film added a stipulation that Lindsay Lohan was forbidden to drive any car, let alone a Porsche 911 , while the show was in production.

Oops, we guess she missed that memo. We also assume that the production company missed that memo too, as directly behind Lohan’s borrowed Porsche during the accident was an SUV used by the production crew… Double oops.

Fortunately for the production company, the insurance company did not cancel the plan, but it did require the company to inform Lohan that she is not permitted to drive for any reason whatsoever.

What a life to live. You have multiple millions of dollars in the bank and you have insurance companies and production companies taking your keys away like a 16-year-old that just got caught staying out after curfew.

Okay, we can once again resume ignoring everything involving Lindsay Lohan, unless it involves her and a car.

Source: TMZ

If you are not completely satisfied with the new 400 HP Porsche Carrera S , the company is now offering a new power enhancement kit developed by the Porsche Exclusive department. The new kit will increase the 3.8-liter boxer engine’s output from the standard 400 HP up to 430 HP. As a result, the 0 to 60 mph sprint will be made in just 4 seconds and top speed will go up to 190 mph with the PDK tranny and 191 mph with a seven-speed manual gearbox.

In order to obtain these impressive updates, as well as keep the same fuel economy, Porsche added different camshafts and an entirely new variable resonance intake system design with six air flaps and a resonance flap. A Powerkit can be activated at the push of a button, making the two exhaust lines merge and generating a powerful engine sound.

Next to these changes, the new Porsche Exclusive 911 Carrera S also comes with a series of exterior updates. These changes will include a new front apron with powerful air intakes and a fixed rear spoiler in legendary "ducktail" form. For customers who want even more, Porsche is also offering an Aerokit Cup which includes an additional fixed rear wing over the rear spoiler and a special front spoiler lip with additional air intakes. The interior will receive lots of decorative trims, including brushed aluminum and carbon.

Posted on by Brad Anderson 3
Porsche Cayman

The Porsche Cayman has long been a favorite for driving enthusiasts wanting a true driver’s car, with no frills and with the extra rigidity which comes from having a fixed roof unlike its Boxster brethren.

However, with competing cars nipping at the tail of the Cayman, including the Subaru BRZ and Scion FRS despite their obvious power disadvantages, the Cayman is in dire need of a significant update.

If the latest news from Autonews turns out to be correct, then the 2013 Porsche Cayman (which will be almost identical to the recently updated Boxster ) will debut at the upcoming 2012 Los Angeles Auto Show in November.

In addition to this information being released, the 2013 Cayman is also expected to hit global markets by the spring of next year, with a price tag most likely just below the 2013 Boxster.

No vast visual changes will be prominent on the updated Cayman, as it’ll look almost identical to the new Boxster which as we know, features a host of slight changes including the re-designed headlights and taillights.

Powering the base 2013 Porsche Cayman will be a punchy 2.7-liter flat-six engine delivering 265HP while the more expensive and more desirable S variant, will feature a 3.4-liter engine pumping out an impressive 315HP.

Source: Autonews

The new generation Porsche 911 GT3 is set to be unveiled sometime at the end of 2012, most likely at the Los Angeles Motor Show. This means that the company is currently very busy testing the car and we all know that wherever there’s a car testing, there is also a spy photographer. So ,here’s the latest video of the future 911 GT3.

The 911 GT3 will be powered by a normally aspirated 3.8-liter flat six engine with an output of 450 HP - an increase of 15 HP over the current version. The next GT3 won’t be offered with a manual transmission, meaning that customers will only enjoy a PDK gearbox. It is believed that top speed will be somewhere in the 200 mph area, while the 0 to 60 mph sprint will be made in about 4 seconds.

Source: WCF

We all know that when you buy or sell anything of significant worth, the gummament is not too far away with its hand out asking for its share. It doesn’t care which side it comes from, just as long as someone pays “The Man.” Well, when VW AG decided it was time to buyout the remaining 50.1 percent of Porsche and get its former ownership group completely out of the picture, we were talking billions of Euros, €4.5 billion to be exact.

Well, even in Germany, “The Man,” or better yet “Der Mann,” is there in the form of the Baden-Württemberg Finance Mini Mini stry asking for his cut of the deal, which would total about €1.5 billion ($1.9 million). This was just about the breaking point of the entire deal, as a part of the buyout was that VW pays the tax.

After five months of massaging the numbers, looking at the laws, and manipulating things in ways that would make a business ethics major cringe, VW and Porsche are about to pull off this deal 100 percent tax free. How they pulled this off was simple enough… The only real sticking point was the fact that VW had to find out how to manipulate the deal into a corporate restructuring, as opposed to a sale.

To achieve a restructuring classification instead of a buy-sell classification, VW gave Porsche the €4.5 billion buying price, but included in that price a single voting share of VW stock… Yeah, that’s it. One little piece of paper that says “I can vote on important issues” saved VW €1.5 billion. Gotta love those tax attorneys.

The deal has yet to be approved by state authorities, but sans any omissions or errors, this looks to be a final deal that gives VW the title to Porsche, instead of just a rental contract.


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