6 days ago
Porsche Plans 20% Price Hike On Top-End 911s In Profit Push
During Capital Markets Day in Weissach, new Porsche CEO Michael Leiters offered Wall Street desks a bleak outlook, warning that the turnaround will take time and that operating conditions are unlikely to improve significantly over the next few years. Leiters signaled to investors a shift toward value over volume. He said the focus is now on prioritizing higher revenue per vehicle and reducing dependence on China. One such strategy, as Bloomberg reports, is for Porsche to raise average prices for its top-of-the-line sports cars by 20% and introduce a new model above the 911 as it seeks to recover after its disastrous entry into the electric vehicle space. Sharp depreciation in used Porsche Taycans highlights the challenge of maintaining resale values for high-end EVs. A recent Goldman report points to a similar divergence at Ferrari, where collectors favor V8 and V12 combustion-engine models while hybrids face pressure in the secondary market (read report). Average prices for Porsche’s top-end models are expected to exceed €330,000 ($370,134) by the end of the decade, up from about €270,000 this year. “The top priority is to further strengthen our unique sports-car brand across the entire lineup, with new, desirable models in particularly high-margin segments,” […]
2 weeks ago
Gulf Air Opens Historic Formula 1 Gulf Air Bahrain Grand Prix 2026 In Malaysia
Gulf Air marked the start of the FORMULA 1 GULF AIR BAHRAIN GRAND PRIX 2026 IN MALAYSIA at the Sepang International Circuit as title sponsor of the race, a position it has held since Bahrain brought Formula 1 to the Middle East in 2004. The three-day event, running 2–4 October, is the first time the Bahrain Grand Prix has been staged outside the Kingdom. At the Sepang International Circuit, the Gulf Air Fan Zone will be open to all ticket holders throughout the weekend, bringing fans closer to the action of the race and to the Kingdom of Bahrain. Gulf Air’s presence will also be felt above the circuit. On race day, Sunday 4 October, the airline will perform a ceremonial fly-past over Sepang International Circuit, its first at a Formula 1 race outside Bahrain. The fly-past, a tradition of the Bahrain Grand Prix at home, will be operated by a Gulf Air Boeing 787. Mr. Martin Gauss, CEO of Gulf Air, said: “The FORMULA 1 GULF AIR BAHRAIN GRAND PRIX brings together two worlds built on the same foundations: engineering excellence, absolute discipline on safety, and teamwork under pressure. For every driver on the grid there are hundreds of […]
2 weeks ago
Porsche Centre Bahrain and Qannati Present “Time in Motion” at Conrad Bahrain Financial Harbour
Porsche Centre Bahrain took its clients out of the showroom and up to a hotel penthouse on 26 September for Time in Motion, a day that paired watch design with time behind the wheel. The event was run with French-Bahraini watch brand Qannati and Conrad Bahrain Financial Harbour. Ducati joined in too, bringing a motorcycle showcase and guests from its own client community. Starting at the Penthouse Guests met at the Conrad Penthouse for refreshments and views across Manama. Mahmood Qannati, founder of Qannati, then led an interactive workshop on the art and design behind the brand’s timepieces. Each participant looked at how a personal story could shape a watch design, getting a hands-on feel for the creative decisions and craftsmanship that go into every piece. Qannati has roots in both Bahrain and France. Its work brings together watchmaking, jewellery, sculpture and storytelling, with each watch designed as a wearable work of art. Onto the Road From there, the focus shifted from the sketchpad to the driver’s seat. Guests took the latest Porsche models on a route from Conrad Bahrain Financial Harbour to The Roastery, stopped for coffee, and drove back to the hotel. Ducati’s showcase added a two-wheeled take […]
2 weeks ago
Saudi Arabia recalls 391 Jeep vehicles over tire pressure warning fault
Saudi Arabia’s Ministry of Commerce recalled 391 Jeep Grand Cherokee and Grand Cherokee L vehicles due to a fault in the tire pressure monitoring system. According to the ministry, the fault may prevent warning indicators from appearing when tire pressure drops, increasing the risk of an accident. Owners were urged to check whether their vehicle identification number (VIN) is included in the recall through Recalls.sa and contact Petromin Stellantis to have the necessary updates carried out free of charge. Affected vehicle owners can contact Petromin Stellantis at 8003030040.
3 weeks ago
China Floods Europe With Cheap Cars, Grabs Record Market Share As Domestic Brands Buckle
Europe is becoming a glaring case study in how globalist leaders can destroy an entire automotive manufacturing base by flooding the continent with cheap Chinese cars and sending domestic automakers spiraling into crisis, while their policies simultaneously spark what Nomura analysts have said will be political blowback over an 18-month election cycle, with shifts toward the right already visible in recent German elections. Bloomberg News cites new data from Dataforce showing that Chinese automakers captured a record share of Europe’s car market in August by flooding the continent with cheap hybrids that undercut domestic brands. Chinese brands, including BYD, accounted for nearly 12% of European new-car sales that month, according to Dataforce. The largest surge in sales came from hybrids: one in four sales overall and roughly one in three plug-in hybrids. Chinese hybrids avoid the additional EU duties imposed on imported EVs, giving BYD a competitive advantage on an energy-stricken continent. EV and hybrid sales jumped 27% in August, offsetting declines in combustion-only cars and lifting the overall market by 4.6%. The increasing Chinese auto footprint inside Europe is becoming increasingly alarming when viewed from a Goldman chart posted to clients earlier today. Germany’s auto industry crisis has refused to […]
3 weeks ago
Porsche Centre Bahrain Turns the 911 Driving Range Into a Night Out for Golfers and Beginners Alike
Not everyone who picked up a club at the Royal Golf Club on Saturday evening had played before. That was the whole idea. Porsche Centre Bahrain, represented by Behbehani Brothers W.L.L., hosted the 911 Driving Range Experience on 19 September. Sixty members of the media, partners and friends of Porsche came along for an evening built around golf, a bit of friendly performance and good company. The main draw was Trackman. Guests took part in interactive golf activities that put their accuracy and technique to the test, all in a fun, welcoming setting. Experienced players had something to aim for. Complete beginners had a place to have a go without pressure. The Porsche Centre Bahrain and Royal Golf Club teams were around to chat with everyone in between. The pairing served a purpose at the intersection of focus and performance. Golf rewards precision, and it never stops asking you to be a little better than last time. Porsche shares that mindset, and the evening was built around it. It also showed how long Porsche Centre Bahrain has been part of the Royal Golf Club story. The dealership has a longstanding relationship with the club and sponsors the 911 Driving Range […]
3 weeks ago
Ceer unveils first two EVs as Saudi brand targets global market
Saudi electric vehicle brand Ceer unveiled the designs of its first two models on Monday, marking a major milestone for the company as it moves toward launching its seven-vehicle portfolio. The vehicles were revealed at Ceer’s manufacturing facility in King Abdullah Economic City, where the company brought together industry representatives and other stakeholders for the global unveiling in the presence of Yasir Al-Rumayyan, Governor of the Public Investment Fund. James DeLuca, CEO of Ceer, told sources that the event marked the culmination of three years of work on the company’s first vehicles. “Tonight, we united the industry, inspired the nation and amazed the world,” DeLuca said. “Tonight, was about revealing the design of the first two vehicles in our seven-vehicle portfolio. Three years in the making, we feel absolutely great tonight. We are excited, confident and ready.” DeLuca also highlighted the involvement of Crown Prince Mohammed bin Salman in pushing the team during the design process. He added that the directives of Crown Prince Mohammed bin Salman focused from the outset on presenting distinct and innovative designs that set Saudi vehicles apart from products currently available in global markets, thereby reflecting the Kingdom’s identity and its ambitions within the industrial […]
3 weeks ago
Li Auto Changzhou: Inside China’s Family EV Home
Charlie Cooksey visits Li Auto’s Changzhou flagship, exploring the EREV technology and family-first design behind China’s profitable EV pioneer. I have been to China once before, but nothing prepared me for the pace of Changzhou. The high-speed train from Beijing takes under two hours, just long enough to skim a magazine before the announcement crackles that we are pulling into the city Li Auto calls home. Founded in 2015 by Li Xiang, a man who made his name building websites before he ever built a car, the company started life under the name Chehejia, which translates roughly as Car and Home. That phrase turns out to be the whole philosophy in two words. Li Auto has grown from a small start-up into one of the few Chinese electric vehicle brands that have turned a genuine profit for three years running. Walking into its Changzhou base, that discipline is easy to see. Few Hands, Endless Precision The first thing that struck me was how few people I saw. Long mechanical arms swung, welded and lifted, doing work that would once have needed a full shift of hands. Where people did appear, they were watching screens and checking readouts rather than lifting […]
4 weeks ago
These Are The European Countries With The Newest Cars
Europe’s roads reveal a striking divide between countries where drivers regularly replace their vehicles and those where aging, secondhand cars remain the norm, according to a new report from ecarstrade.com. New research from B2B automotive company eCarsTrade compared vehicle fleets across more than 30 European countries and found Luxembourg sitting comfortably at the top of the rankings for the continent’s newest cars. Nearly 43% of Luxembourg’s registered vehicles are less than five years old, the highest proportion in the study. At the other end of the age spectrum, only about 6% of its cars have been on the road for 20 years or longer. The country also replaces vehicles unusually quickly, with its annual fleet renewal rate topping 10%. Roughly 7% of Luxembourg’s cars are now fully electric. Belgium ranked second. More than one-third of its cars are less than five years old, while the country added roughly 456,000 new vehicles in 2024. Its fleet renewal rate is about 7.5%, among the strongest in Europe. Electrification is also becoming more prominent: roughly 5% of Belgium’s total fleet is electric, while EVs account for around 28% of new registrations. Denmark placed third, with approximately 28% of its cars less than five […]
4 weeks ago
BYD’s EU Invasion Deepens Germany’s Auto Industry Crisis
The rise of right-wing populism in Germany comes as globalist policies backfire and crush Europe’s industrial powerhouse. The nation’s auto industry is in shambles, with layoffs and production cuts, after European leaders had the brilliant idea of letting cheap Chinese EVs flood the struggling continent. Bloomberg cites new data from Schmidt Automotive Research showing Chinese brands accounted for 10.7% of Western European car sales in the second quarter, up from 3.4% two years earlier, highlighting how BYD Motors’s cheap $34,000 EV is quickly taking market share from domestic brands. Chinese EVs in the EU have seen quarterly registrations surpass those of Japanese brands. Citigroup analyst Harald Hendrikse estimates Chinese brands could capture 30% of the EU market by 2035 without additional protective measures. The immediate result of the flood of Chinese EVs on the continent has been restructuring news from Volkswagen that upwards of 100,000 jobs could be cut by the end of the decade. More recently, Jaguar Land Rover plans to cut 10% of its workforce. Beyond automakers, the ripple effect of layoffs is impacting parts supplier companies: Germany, previously resistant to tougher trade barriers, is preparing tariffs on Chinese hybrids as it watches its industrial base erode, stoking the rise of Alternative für Deutschland […]
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