Porsche is nearing fix to 911 (991) GT3 glitch

Article by Christian Andrei, on March 17, 2014

Porsche AG is nearing a fix to a glitch that caused engine fires in a racing version of the 911 sports car. “We know the reason and the problem-solving measures,” chief executive Matthias Mueller said. “We’re testing them.” He said that Porsche is planning to disclose the technical solution “shortly” and then inform its customers.

Porsche recalled all 785 examples of 911 GT3 from the current model year in February after two instances of fires due to engine failures. Porsche has requested owners stop driving their 911 GT3 pending repairs. No accidents or injuries were tied to the incidents, Porsche said at the time.

The division is expecting its earnings for 2014 to be “at least” at the 2013 level amid investments to expand its sales operations in the China and the United States and production in Germany. Porsche posted a 6-percent rise in operating profit in 2013 to EUR2.58 billion, generating an 18-percent return on sales. The figure at Volkswagen Group, meanwhile, was 5.9 percent.

Cost savings from cooperation with Volkswagen, which took full control of Porsche in mid-2012, will “get close” to a EUR1 billion goal as soon as 2014, Mueller said. Chief Financial Officer Lutz Meschke said that synergies would soon exceed that amount. Porsche’s investments abroad this year will concentrate on adding distribution in emerging markets, with 30 new dealerships intended for China by 2015.

The carmaker said it would invest a total of $100 million in the US, without specifying a time frame. Porsche will invest EUR300 million to add a new engine production line by 2016 as well as to expand offices at its Zuffenhausen site, as part of a EUR700 million investment at the site. Porsche is also investing EUR100 million annually at its research center in Weissach.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

More positive news has been pouring in before the year ends. For those who have been waiting to hear the latest word on Toyota 86, we have some great news....
by - December 10, 2016
Hyundai is making the green vehicle race more competitive by offering three powertrain types -- pure electric (EV), hybrid (EV plus combustion engine) and plug-in hybrid (PHEV) – in one...
by - December 9, 2016
Although specs for the new Renault Megane had already surfaced several weeks ago, we didn’t know that the company has cooked up something new. Aside from the 200hp gasoline, Renault‘s...
by - December 9, 2016
For the first time in fifty-eight years, Infiniti registers its first US-Spec Q60 Coupe in Cuba. American products have not been allowed entry into Cuba for six decades. But it...
by - December 9, 2016
Chevrolet has already given out the pricing for some of its 2018 Equinox models. Not only will the new Equinox be available in both the US and Canada, it is...
by - December 9, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries