
Porsche discontinues two iconic models and replaces them both with EVs
PORSCHE has confirmed it will axe two of its most iconic sports cars—the petrol-powered 718 Boxster and 718 Cayman—by the end of this year, paving the way for fully electric replacements.
The announcement marks a significant shift in the brand's strategy as it leans further into electric mobility.
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The news was first revealed in Germany by Porsche production boss Albrecht Reimold in Automobilwoche and later confirmed by the company to Car and Driver.
Production of the mid-engine 718 twins will end in October 2025 at Porsche's facilities in Zuffenhausen and Osnabrück.
The move follows the earlier discontinuation of the models in Europe due to new cybersecurity laws.
According to Porsche, the decision isn't about poor sales. In fact, 2024 saw a 15 percent increase in deliveries, with 23,670 units sold.
However, limited parts availability and the push for electrification have forced Porsche's hand.
'We are now focused on the next chapter,' said a spokesperson.
Special editions like the Cayman GT4 RS and Boxster RS Spyder will also bow out, despite previous exemptions from EU regulations.
Replacing these fan favourites will be fully electric versions of both the Cayman and Boxster.
While details remain scarce, Reimold assured enthusiasts that the electric successors will maintain the fun-to-drive character.
'I've driven it,' he said.
'The driving experience will still be 100 percent 718.' Porsche CEO Oliver Blume added during the brand's recent annual meeting that the new EVs will be 'even more dynamic, even more powerful.'
However, fans will have to wait a bit longer for the new generation.
The EV 718s won't launch until the 'medium term', with development still ongoing.
In the meantime, Porsche is urging customers to snap up the remaining petrol-powered models while they still can.
'This may well be your last chance,' warned Car and Driver, which was among the first to report the change for global markets.
The shift has been in motion since the start of 2024, when the 718 was pulled from European markets in response to stricter cybersecurity legislation.
The regulations effectively ended sales of the internal-combustion Boxster and Cayman, along with the petrol-powered Macan, across the EU.
The U.S. and other regions were granted a temporary reprieve, but that window will now close in October.
While the 718's days are numbered, Porsche's broader EV strategy is still in flux.
CEO Oliver Blume admitted during this week's shareholder meeting that the company's previous target—having electric cars make up 80 percent of sales by 2030—is now unlikely to be met.
Despite this, Porsche says the electric lineup 'will continue to grow as planned,' including a large three-row SUV still in development.
Interestingly, Porsche is also keeping its options open when it comes to future powertrains.
The company has hinted it may reintroduce combustion engines or hybrids into models originally intended to be electric-only.
Last November, then-CFO Lutz Meschke said Porsche was 'looking at the possibility' of combining hybrid or petrol power with upcoming EVs—a sign the brand isn't closing the door on internal combustion just yet.
As Porsche moves into this new chapter, the retirement of the 718 range is more than just the end of two cars,it's the end of an era.
Since their debut, the Boxster and Cayman have become icons in their own right, offering affordable performance and precise handling.
Whether the electric versions can match that legacy remains to be seen.
The Sun has approached Porsche for comment.
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Times
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This is how to behave Politicians in Brussels are pressing ahead with reforms to give passengers the right to travel with a cabin bag weighing up to 7kg free of charge, in addition to a smaller item that can fit under the seat. Other changes include giving under-12s, or those travelling with disabled passengers, the right to pick a seat next to their accompanying traveller, also free of charge. Last Tuesday, MEPs on the European parliament's transport and tourism committee passed the changes, voting 38-2 in favour. The European parliament now has three months to consider the new laws, after which they will be adopted, if politicians do nothing. Alternatively, they can be adopted, rejected, or amendments proposed. On the face of it, this seems good news for consumers. A cabin bag can cost from £6 to £60 on Ryanair, depending on the flight and when you buy your ticket. At easyJet, the charge is £5.99 to £48, and on Wizz Air it varies from as little as £13 to as much as £140. 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Publicly available figures for Wizz go back to 2014: per-passenger spending on add-ons has risen from €25.40 then to €37.08 now. Charging for bags at easyJet is a newer phenomenon, brought in by Bellew in 2021, with passengers spending an average of £27.39 on ancillaries. Airlines argue that these measures have allowed them to keep headline fares down. And the numbers appear to support this. Average per-passenger fare income on Ryanair was €52.52 in 1999 and is now €46.10. Wizz fares have also fallen, from €47.39 to €46.01 between 2014 and now. This is why airlines argue that the EU reforms will backfire on travellers. • How airline fees have turned baggage into billions 'It's actually going to be more damaging for consumers,' said Yvonne Moynihan, Wizz Air's chief corporate and ESG officer. 'Fares are going to be driven up because we're going to have to price fares to include the price of the luggage.' 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Auto Blog
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The Guardian
2 hours ago
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He served a prison sentence for fraud between 2000 and 2003 in an unrelated case. Horizon said it was 'led to believe we were partnering with an experienced and reputable real estate developer' as Dolphin provided the firm with 'highly detailed due diligence documents' and sent regular reports wrongly suggesting projects were 'progressing as planned'. The investor was not aware of Smethurst's previous fraud conviction. 'According to findings from the insolvency administrator and the criminal investigation, a significant portion of the funds was diverted abroad to jurisdictions with strict banking secrecy, notably the British Virgin Islands and possibly the Cayman Islands,' Horizon said. 'These jurisdictions do not cooperate with European authorities, which means that the money trail goes cold. This illustrates the systemic failure of cross-border cooperation in cases of fraud, and why victims like us are left without meaningful recourse. 'We are still wondering where the money went, what remains, and whether it is still possible to recover anything to compensate Horizon and its investors.' UK individual investors told the Guardian they are angry, and fear that Smethurst will be released early for good conduct and recover the hidden funds for himself. Middleton and his wife, Janet, invested in Dolphin in 2015: his pension lump sum of £100,000 and her inheritance of £120,000. Their financial adviser, the late Alastair Hooks, told them it was low-risk and supported by the German government, Janet Middleton recalls. 'To be honest, I was nervous about it and strongly stated that as pensioners we could not afford to lose this amount of money, but again we were assured there was no risk.' After Dolphin filed for insolvency, Hooks did not return their calls, and the couple discovered he had unregistered from the Financial Conduct Authority (FCA) in 2012. She says they have explored every avenue – even as they dealt with David being diagnosed with bowel cancer – but have not recovered any of their investment. Janet says Smethurst's sentence 'seems very lenient to me … Smethurst may well serve his sentence and even get early release for good behaviour while other people like David and I now serve a sentence in our retirement economically'. A former NHS nurse, she says the couple had been looking forward to a comfortable retirement but have had to budget their outgoings; they have not had a holiday in years and both drive 20-year-old cars. The Hildesheim court said it did not order Smethurst to make any payments to investors because it could not establish that he had personally siphoned off any funds. Justus von Buchwaldt, of the law firm BBL, the insolvency administrator who testified in June, subsequently said: 'I fear that this is only the tip of the iceberg. It is still unclear if other people were involved in this large-scale fraud and where most of the investments ended up.' Of an estimated €1.3bn of investments received by the property company, about €800m is missing. The Hanover prosecutor's office said it had investigated other company officials but could not find evidence of any wrongdoing. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion It is one of Germany's biggest investment scandals since the second world war, and the German authorities have been criticised for being slow to intervene, even though the property company stopped filing financial accounts in 2015. Alison Moncrieff-Kelly, 63, a freelance musician from Kent and former director of the Rye arts festival, was a Dolphin investor. She said: 'This seems a pathetically small price for Smethurst to pay for such heinous and convoluted levels of crime. Where's the money gone is the big question … and six years 11 months doesn't touch the sides.' Most of the listed buildings acquired by GPG were never redeveloped and left derelict. Von Buchwaldt at BBL has sold 20 of 75 properties so far, for more than €87m, and has yet to distribute the proceeds to investors. Those sold include castle Dwasieden, a listed former brewery in Bad Aibling in Bavaria and a period villa in Fürstenberg/Havel in Brandenburg. The property sales are expected to take years as the legal situation is often complex. Almost 8,000 creditors have filed claims with BBL against the collapsed property group, out of an estimated 15,000 to 25,000 investors globally. Von Buchwaldt has said BBL would work with the UK's FCA, Serious Fraud Office (SFO) and Financial Services Compensation Scheme (FSCS). Debbie Kay Randles, 67, invested £25,000 in Dolphin in 2015 and, like others, has also lost money in other investment schemes. She paid £6,000 to a financial claims company in an attempt to recover her Dolphin investment, but 'they just disappeared'. She even enlisted a private detective to track down the claims firm. 'It's just been an absolute ongoing nightmare,' she says. 'I've not got a lot left, so I'll just keep working, probably until I'm 75, and then retire.' A former TSB employee, she now works for a window blinds business and lives in York. Moncrieff-Kelly says the trial 'doesn't address this issue of how incredibly badly regulated financial affairs are in the UK … I don't know if it's happening so much in any other country in the world.' She points to the 'middlemen' – financial advisers who are typically paid commission of 20% to 30% and 'kept that money' despite 'selling a fraud'. She invested in Dolphin after her financial adviser suggested it. Moncrieff-Kelly has recovered about half her £80,000 investment – money she inherited from her late mother – from the FSCS, with the help of a claims company that took the other half as payment. The FSCS says it has paid compensation to more than 1,900 customers in relation to Dolphin/GPG investment products, and a further 150 people have open claims. Compensation may have been triggered in relation to unsuitable financial advice that customers were given. It says it cannot put a figure on the compensation paid because it includes payouts for other investment losses. The SFO declined to comment while the FCA said it could not comment on individual firms. 'People don't understand the trauma and the damage that [fraud] has done,' says David Middleton. 'People think [with] white collar crime, slick City crime, there's no victim. There is a victim.'