Porsche Financial News

NCP MLA Sunil Tingre on Saturday denied sending any legal notice to NCP (SP) chief Sharad Pawar as claimed by the latter's daughter and MP Supriya Sule. Sule, the working president of NCP (SP), on Friday claimed that Tingre, who represents the Vadgaon Sheri assembly constituency in Pune, has sent a legal notice to her father, stating that he would drag the former Union minister to court if he defames him in the Pune Porsche car crash case.

Mint, Audi India's top executives said that the company has exhausted its current resource allocation for the EV business and is in discussions with its headquarters for the next phase, echoing earlier comments from Skoda and Volkswagen India leadership, and leaving the Wolfsburg-based Volkswagen Group among the few major foreign carmakers without a clear EV roadmap for the country.This is in contrast with other foreign luxury car makers like Mercedes and BMW and mass-market players like Renault, Honda, Hyundai, VinFast and Suzuki that have announced their EV plans for India and committed to scale their sales over the next few years.“We are not selling an electric car because we have been selling it for the last 3-4 years. The quota that was allocated to us, the cars that we were selling got over,” Balbir Singh Dhillon, brand director at Audi India, told Mint ahead of its latest car launch in the national capital.“We are in the process of defining what next model that we bring in, at what point in time, at what price point,” Dhillon said, adding that the company would publicly announce its plans soon and remains optimistic about the opportunity in the country's EV market.Dhillon's comments echo statements from the brand head of Skoda as well as the Volkswagen Group head in India over the past two months.

In normal times, being Porsche’s boss would rank as one of the world’ s most desirable jobs. But I do not envy new Chief Executive Officer Michael Leiters one bit.Barely two months after taking the helm, he made a decent fist on Wednesday of outlining what ails the German sportscar manufacturer and providing the first hints of how he plans to put things right. He’s committed to restoring the company’s “former glory” and insists Porsche “represents a compelling recovery story.” But investors hoping his arrival marks an immediate start of better times for the storied brand could be disappointed.

Subscribe to enjoy similar stories. A handful of brands have what all luxury bosses want: a wait list to tide them over in quiet times. But resale values suggest that even rare goods such as Hermès Birkin bags and Rolex watches aren’t pulling in crowds like they used to.

Subscribe to enjoy similar stories. Julian Scot-Smith was window shopping at a Porsche dealership with his wife in London’s fancy Mayfair district before Christmas, sizing up the SUVs. Then the couple peeked into another dealership around the corner.

Subscribe to enjoy similar stories. NEW DELHI : India’s leading auto component manufacturers will look to hitch a ride with Chinese carmakers amid Western auto giants’ faltering electric-vehicle (EV) bets. The Ford Motor Co.

Volkswagen, the German automaker, has told its car dealers that it plans to add an import fee later this month to the price of imported cars sold in the United States. The company's move is one of the first and clearest examples of automakers using price increases to deal with the 25% tariffs President Donald Trump imposed on car and auto parts imports. The tariffs on vehicles went into effect Thursday, and the levies on parts will become effective May 3. In a Tuesday memo to dealers, Volkswagen said that the exact fees would be determined by the middle of April. The New York Times reviewed a copy of the memo. The automaker also told dealers it planned to cut back on sales incentives and had halted rail shipments of cars to the United States from its plants in Mexico, although shipments by sea continue. Volkswagen plans to hold cars that are subject to the tariffs in port for «the near term.» It also told dealers that the price of the Volkswagen Atlas sport utility vehicle, which is made in Chattanooga, Tennessee, could be affected by the tariffs because it includes important imported components. The extent of the impact most likely will not be known until May, the memo said. The automaker, including its Audi and Porsche brands, imports almost all the cars it sells in the United States. Besides the Atlas, Volkswagen also assembles the ID.4 electric sport-utility vehicle in Tennessee.

Miriam Yarimi, allegedly had a history of reckless driving. She reportedly spoke about her passion for speed and luxury cars. Authorities are now reviewing her past traffic violations.

Subscribe to enjoy similar stories. Good artists copy. Great artists steal.

Anand Mahindra recently shared his thoughts on a heartwarming video that left a deep impact on him. The video, which has been circulating for over a year, showcases a luxury car owner’s generous and empathetic act, reminding Mahindra of the deeper emotional connection people have with automobiles. In the video, the luxury car owner spots a poor man taking a selfie with his car. Upon seeing the owner, the man tries to run away. But the generous owner himself takes photos of the poor man with his luxury car but also takes him for a ride in the car. Reflecting on the video, the Mahindra group chairman emphasized that cars are not just means of transportation but symbols of joy and excitement. As a business leader in the automotive industry, Anand Mahindra expressed his hope that Mahindra’s designers and engineers, both present and future, would approach vehicle design with passion. He stressed the importance of crafting cars that go beyond functionality, bringing happiness to those who experience them. The video resonated with Mahindra as it highlighted how vehicles can evoke strong emotions and forge unforgettable memories. His response underlines the philosophy that automobiles are more than just machines; they are a source of delight and inspiration.

European carmaker shares have experienced a significant decline following U.S. President Donald Trump's announcement of a proposed 25% tariff on European Union imports, including automobiles. This development has raised concerns about potential economic repercussions for both regions.

shares fell sharply on Thursday as U.S. President Donald Trump's plan for a 25% tariff on cars and other goods from the European Union and the region's vow to counter «firmly and immediately» fanned fears of an escalating trade war. The pan-European STOXX 600 index has retreated 0.7% as of 0813 GMT, after closing at a record high in the previous session.

Tesla stock alone since the US election 2024 amounts to more than the annual economic output of 160 countries. Tesla’s total market value has grown to about $1.3 trillion, more than the worth of General Motors, BMW, Ford, Ferrari, Porsche and a dozen other top car makers combined, as per a report.

Shohei Ohtani, where is the fancy Porsche you hinted at giving your manager Dave Roberts if the Los Angeles Dodgers won the World Series? Well, the Dodgers won the World Series against the New York Yankees more than a month ago, so what gives? Visiting Tokyo on Wednesday and speaking to mostly Japanese reporters, Roberts was reminded that Ohtani gave teammate Joe Kelly a new Porsche when Kelly agreed to hand over his No 17 to the Japanese superstar after he joined the Dodgers from the Angels.

While sales of electric vehicles surge in China, the spread of more environmentally friendly vehicles is stumbling in the United States and Europe as carmakers and governments struggle to meet years-old promises about affordability and charging stations

Manufacturers led by BYD Co. have opened a new front in the fight for dominance of the auto industry by redefining “Made in China” as a global symbol of luxury for the electric-vehicle age. After challenging the likes of Mercedes and BMW AG in their home market, they’re taking the fight to Europe and making inroads. The clearest sign of their impact came on Friday, when Mercedes reported its weakest profitability since the former cars-to-trucks conglomerate broke itself up in 2021 to become more nimble. Porsche AG, the maker of the 911 sports car, said it’s weighing cost cuts and reviewing its model lineup after a demand slump in China caused earnings to plunge.

Magic 7 series will support rapid 100W wired charging, significantly improving charging efficiency for users.Among the five models, two are rumored to feature satellite connectivity, likely identifying them as the Honor Magic 7 Pro and the Honor Magic 7 RSR Porsche Design. The other models expected in this series include the standard Honor Magic 7, Honor Magic 7 Pro, and Honor Magic 7 Ultimate.Although comprehensive specifications for the Magic 7 series are yet to be revealed, sources suggest that the official launch in China is anticipated for October, marking an earlier introduction compared to the January launch of the Magic 6 series.

Sep 10: 'Maharashtra BJP chief Bawankule's son's Audi hits several vehicles in Nagpur, driver arrested' May 27: 'Pune Porsche crash: Grandfather of minor arrested; police say he told driver to take blame, promised him reward'

Clearly, the man had thought about this quite a lot, to the point of harbouring the kind of concern that people with less money and thinner mattresses keep hidden under their mattress. His reply was honest and disarming. 'It's like driving' — what he meant was 'being driven in' — a Porsche on pothole-ridden roads. Everywhere I go, I'm admired and resented in equal measure.' I honestly expected him to say that India was no longer a poor country and quote the likes of Surjit Bhalla. His candour impressed me. Being very, very rich in a poor country — poor being not so much in abstract, theological GDP terms, but in its look, smell and feel — has its unique pressures. One would think that it would be more comfortable being super-rich here, like Napoleon hanging out with seven dwarves. But it turns out that it's more like being Beethoven at a jagran.

minor accused of killing two persons after ramming his Porsche car in an inebriated state into a motorcycle in Pune on May 19 has undergone a 15-day safe driving programme as mandated by a court, a Regional Transport Office (RTO) official said on Sunday. Two IT professionals from Madhya Pradesh were killed in the incident, which took place in Pune's Kalyani Nagar and triggered massive outrage nationwide, partly because of the accused getting bail from the Juvenile Justice Board on lenient terms and due to a police probe finding attempts by his kin and some doctors to cover up the crime. While being released on bail by the JJB, among the conditions placed on him were writing a 300-word essay on road accidents as well as taking help of the RTO to study traffic rules and regulations. «The juvenile accused completed the safe driving programme with the RTO. With respect to the guidelines of the court, the operation was kept discreet as it could have led to issue of privacy of the juvenile,» a top RTO official said.