The driver of a white Porsche zips into the Costco gas station in Marina del Rey, Calif., and takes his place in line. It's a Friday afternoon and all 16 of the pumps are taken. At $4.19 per gallon, prices there are among the least expensive on the west side of Los Angeles these days. The Porsche owner, Santa Monica attorney Matt Jones, ends up paying $56 to fill up — $15 more than it would have ...

German prosecutors are investigating Porsche's former chief executive Wendelin Wiedeking and other people close to the sports carmaker, alleging market manipulation and passing on inside information in their failed takeover attempt of Volkswagen. Prosecutors in Stuttgart on Thursday raided the headquarters of Porsche, which recently agreed to merge with VW after an attempt to acquire the much bigger rival had pushed it to the brink of bankruptcy. A Porsche spokesman rebuffed the prosecutor's allegations. He confirmed that Mr Wiedeking and ...

Volkswagen is to pay ?3.3 billion ($4.7B) for a 42 percent stake in Porsche's main production division, the two German carmakers said yesterday as they thrashed out more details of a move towards a full integration. In a move that will amount to a rescue of debt-laden Porsche, VW will also buy the automobile trading business of Porsche Holding Salzburg, Europe's biggest vehicle dealer that is also owned by the sports car maker's family owners. Porsche first plans to sell ...

Nobody can blame Volkswagen CEO Martin Winterkorn for smiling this past week. VW has just turned the tables on would-be raider Porsche, placing Europe's biggest carmaker in the driver's seat for a planned merger with the much smaller and sportier firm. And while colleagues at rivals like Daimler, Fiat, General Motors and Peugeot are busy trying to survive the current economic storm, Winterkorn seems poised to throw VW into high gear. Compared to its battered competition, VW ...

It's hard to feel sorry for a guy who walks away from a job with a check for €50 million . So while a few Germans see Wendelin Wiedeking, departing CEO of German sports car maker Porsche, as the victim of a public lynching by media, few feel bad for him. Wiedeking had a 17-year run at Porsche, the Stuttgart-based sports car icon which has just failed in its bid to take over motoring giant Volkswagen and will now ...

Porsche announced Thursday that its longtime chief executive is stepping down, a move that may pave the way for a takeover by Volkswagen. Wendelin Wiedeking has been in the driver's seat at Porsche for 17 years. Also stepping down is Holger Haerter, Porsche's chief financial officer. Michael Macht, who has been Porsche's head of production, will become the company's new chief executive, Porsche said. "In the last weeks, Wiedeking and Haerter have come to the conclusion that the further strategic ...

Over the past few days, the German luxury automaker Porsche has moved into high gear with the launch of its latest model, the Panamera, a 4-door, 4-seater sedan that it hopes will reverse flagging sales and maintain its status as the world's most profitable auto maker. But even as the motoring press descends on Stuttgart to test drive the new car, the Panamera launch is being overshadowed by a bizarre feud in the company's founding family that is ...

Iconic German automakers Volkswagen and Porsche have reached an agreement to merge operations -- the latest move in an industry that has seen whiplash changes in recent weeks. The two companies have been in talks in recent weeks about merging manufacturing operations. A statement released on the Porsche Web site said the management boards of Porsche and Volkswagen have agreed in principle for the creation of an integrated car manufacturing group. "In the final structure ten brands shall stand below ...

Someone at technology news site, Cnet, came up with the clever idea of running a poll to learn the age of people who use Amazon's miracle book reader, the Kindle. Seven hundred people responded, which puts the survey somewhat below what researchers would expect from Gallup, but it is a reasonable straw poll, nonetheless. What surprised Cnet and what should surprise anyone who looks at the results is that 50% of the people who use Kindles are over 50 years ...

Amid intense interest from local and international media Porsche has revealed its four-door Panamera luxury sedan to the world at the Shanghai Auto Show.