Prosecutors investigates Porsche SE executives regarding market manipulation allegations

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Prosecutors in the German city of Stuttgart are checking out whether numerous executives at the holding company that manages Volkswagen manipulated markets by delaying the disclosure of emissions scandal in 2015. The questions resembles one launched by prosecutors in 2016 in Braunschweig, near VW’s Wolfsburg headquarters, into present and former VW board members over if […]

Statement on Court Granting Final Approval of Volkswagen, Audi, Porsche 3.0 Liter emissions and Bosch Settlements

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Elizabeth Cabraser, lead counsel for the consumer plaintiffs in the Volkswagen “Clean Diesel” Marketing, Sales Practices, and Products Liability Litigation, released the following statement concerning the Court granting final approval of the Volkswagen, Audi and Porsche 3.0-Liter Emissions Settlement and the related Bosch settlement. The final approval hearing was held today in the Northern District […]

Porsche Cayenne Sets New Guinness World Record After Pulling Largest Passenger Aircraft

Porsche Cayenne S Diesel Air France

Porsche Cayenne, driven by Porsche GB service technician Richard Payne, pulled the airplane over a range of 42-metres at Charles de Gaulle Airport in Paris, to establish a new Guinness World Records title concerning heaviest aircraft pull by a production car, by a margin of 115-tonnes. Air France dedicated its modern engineering hangar and one […]

Porsche-Piech clan to stay out of Volkswagen management: Wolfgang Porsche

Wolkfgang Porsche

Members of the Porsche-Piech clan that manages Volkswagen will not be qualified to serve as executives of the automaker, Porsche Automobil Holding SE Chairman Wolfgang Porsche informed. “That no member of the family is active in the operating company must apply to Porsche SE and the entire Volkswagen group,” Frankfurter Allgemeine Zeitung quoted him. His […]

Audi, Porsche sales assist Volkswagen to record underlying profit

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Record Audi and Porsche sales assisted Volkswagen swing to a record underlying profit in last year, although a larger than expected charge from the diesel emissions scandal indicated it missed for its operating profit. Sales of the German automaker’s high-end brand names lifted underlying operating profit prior to special items 14 percent to 14.6 billion […]

South Korea prohibits sales of selected Nissan, BMW and Porsche models

Nissan Qashqai

South Korea has prohibited the sale of 10 models of Nissan, BMW and Porsche automobiles after the automakers were discovered to have fabricated certification files, in the most recent fallout from the Volkswagen emissions scandal. The federal government revealed in August that it would prohibit all 10 models after performing an investigation into whether foreign […]

Porsche targets 20,000 electric car sales annually

Images of Porsche Mission E

Volkswagen‘s Porsche department expects annual sales of around 20,000 for its very first all-electric vehicle, the Mission E, the high-end automaker’s chief executive informed a German publication. Porsche, the second-largest contributor to Volkswagen’s group revenue, prepares to develop at least 1,400 jobs to construct and sell its competitor to Tesla’s Model S. The Porsche Mission […]