Volkswagen AG (ETR:VOW) said that Porsche is planning to hit profit growth again next year once the Macan compact SUV and 918 Spyder hybrid hits the market. Porsche is targeting an increase in earnings before interest and taxes next year after a jump in spending on new vehicles prevents operating profits from rising in 2013 said Porsche chief financial officer Lutz Meschke.
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Volkswagen Group Posts
At the 2013 Detroit Auto Show, Volkswagen unveiled the CrossBlue SUV hybrid concept intended for U.S. and Canadian markets. The CrossBlue is a mid-size SUV concept that has VW’s TDI Clean Diesel engine with 2 electric motors, a DSG dual-clutch automatic transmission, and electric all-wheel-drive system. The fuel economy rating is at 89 MPGe combined in electric mode.
Porsche SE will be required to face a lawsuit claiming that they hit its plan to corner the market in Volkswagen shares. The ruling was made by New York State Supreme Court Justice Charles Edward Ramos. The “core” issue of the claims is whether New York courts can hold a foreign entity responsible for fraudulent misrepresentations aimed at plaintiffs in the state. There are 26 hedge funds involved in this case including Greenlight Capital Inc. and Glenhill Capital LP. Porsche plans to appeal the decision.
It is rumored that Audi will be acquiring Ducati for $1.1 billion later this week. “Ducati is one of the finest machines you can buy but strategically it’s insignificant for Volkswagen,” stated HIS analyst Christoph Stuermer. “Its revenue is more than Lamborghini’s and Bugatti’s combined, but to the automotive operations, it’s a mere accessory.”
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Microsoft Corporation (NASDAQ:MSFT) and Volkswagen Group have signed a cross-patent licensing agreement. Volkswagen will have access to the Extended File Allocation Tablet (exFAT). exFAT allows media files to be storage across a broad range of consumer electronic devices. The speed which these files are accessed is fast. The deal was made through Volkswagen subsidiary e.solutions. Below is the press release:
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Volkswagen will be airing a commercial during Super Bowl called The Force. Little Darth Vader tries to use the force on the family dog, a sandwich, a baby doll, etc. Will Little Darth be successful at using the force on anything? Find out in the video above.
Volkswagen has acquired Giorgetto Giugiaro’s Italdesign. Volkswagen Group bought a 90.1% stake in IDG. Now Volkswagen owns IDG’s stake in brand name rights and patents. Audi’s Italian subsidiary Lamborghini Holding S.p.A. was responsible for the acquisition. The Giugiaro family will keep the remaining 9.9% share. [TheTruthAboutCars]
In celebration of our partnership with BBC’s Top Gear show and the Detroit Auto Show which is taking place about 30 miles from the Pulse2 headquarters, I have decided to compile a list of 20 of the geekiest cars that I have seen on the Internet.
20. If The Little Mermaid had a car, then this would be it.
This car was on display at the Burnaby’s Hats off Day Show and Shine in Vancouver. Some people are calling it the hippie cousin of Herbie. There is a fountain on the hood and it is covered in many things related to nature. I’d classify the owner of this vehicle as a “green geek.” Here is a video tour of the Beetle.
19. Organ Car
I don’t know what kind of car was used here originally, but some nerd actually had the time to strip out the original parts and put together a car that can play an organ while you’re driving.
16. Mad Max V8
The Mad Max V8 Interceptor (Ford Falcon XB GT) was spotted on Google Street View in New South Wales, Australia.