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Time of India
2 hours ago
- Time of India
Pascal Wehrlein celebrates Formula E Season 11 milestones as Porsche clinches Teams' and Manufacturers' titles
Pascal Wehrlein (Image credit: Instagram) Pascal Wehrlein slipped from second to third position in the last leg of the Formula E Championship in London, but he still has a major reason to celebrate and be proud. Thanks to the performance put up by Wehrlein and his teammate Antonio Felix Da Costa, Porsche TCS Racing won the Teams' and Manufacturers' World Championships this season. Wehrlein has now shared a new Instagram post on the achievement. Pascal Wehrlein reflects on all that he achieved in Season 11 Pascal Wehrlein recently took to his Instagram page to share a glimpse of several crucial moments during Formula E Season 11. He wrote along with them, 'Season 11 Team & Manufacturer World Champions. 3rd Drivers Championship / 1 Race Win / 6 Podiums / 3 Pole Positions / 5 Fastest Race Laps. Checking out. Congratulations Team @ The pictures showed the Porsche team celebrating after winning the Teams' and Manufacturers' Championships. A picture also showed Wehrlein posing on the podium at the London E-Prix with his little daughter. He finished third in Part 1 of the London E-Prix at the ExCeL circuit on July 26. Reacting to his post, several heart emojis were dropped in the comments section by Porsche Motorsport's official account. A fan commented on his post, 'Hell yeah, you can be proud of this, great comeback after that unfortunate start of the season!! (song added to my playlist again).' Another said, 'Congrats, we are proud of you.' One more wrote, 'Great season. Next we come back champions.' Pascal Wehrlein's performance in Formula E Season 11 Pascal Wehrlein won the Formula E World Championship last year and managed to finish third this year. Oliver Rowland won the championship this year, with Nick Cassidy taking the second position at the last minute. Wehrlein won the Miami E-Prix and secured five more podiums in Formula E Season 11. The German and Mauritian driver held on to the second position in the Formula E Driver Standings but was replaced by Cassidy on the last day of the championship due to the latter's three consecutive wins. Wehrlein, however, did enough for the team to grab the Teams' and Manufacturers' Championships along with Antonio Felix Da Costa, who finished fifth in the Driver Standings. Also Read: Antonio Felix Da Costa shares happy memories as Porsche wins Formula E Teams and Manufacturers' World Championships After a stint in Formula 1, Wehrlein made his Formula E debut with Mahindra Racing in 2019 and moved to Porsche in 2021. He also made his Daytona and Le Mans debut this year. For real-time updates, scores, and highlights, follow our live coverage of the India vs England Test match here. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
Mint
14 hours ago
- Mint
Porsche, Aston Martin hike US prices as hopes for tariff sweeteners fade
Porsche, Aston Martin flag U.S. price hikes US-EU trade deal imposes 15% tariffs, averts larger trade war Mercedes, Porsche cool hopes of auto specific trade deals By Rachel More, Alessandro Parodi and Shashwat Awasthi BERLIN, - European luxury carmakers including Porsche and Aston Martin have surged ahead with U.S. price hikes, which could point the way for bigger brands to follow in their wake as companies pass on the cost of tariffs. The United States and Europe reached a trade deal that will see EU-made cars hit with a 15% tariff from August, lower than once threatened but far higher than the 2.5% rate before U.S. President Donald Trump launched his trade offensive this year. On Wednesday, Volkswagen's luxury brand Porsche said it had raised U.S. prices by between 2.3% and 3.6% in July, with no plans for now to establish a U.S. production presence - a move that would let it avoid the levies. "This is not a storm that will pass," Porsche CEO Oliver Blume said after the company cut its full-year profit target and flagged a $462 million hit from tariffs in the first half. "We continue to face significant challenges around the world." U.S. tariffs have pummelled global automakers, forcing companies such as GM, Volkswagen, Hyundai and Mercedes-Benz to book billions of dollars of losses, issue profit warnings, slash forecasts and raise prices. Ford Motor, which boasts domestic production for around 80% of the vehicles it sells in the U.S., said on Wednesday that second-quarter results took an $800 million hit from tariffs and higher U.S. levies would likely cost more than expected for the year. Japanese carmaker Nissan reported a $535 million quarterly loss on Wednesday, impacted by U.S. tariffs, restructuring and lower sales volumes. British sports-car maker Aston Martin said it had made incremental price increases in the United States since last month, issuing a profit warning based on the U.S. tariffs impact and prolonged suppressed Asian demand. ADDITIONAL COSTS While bigger carmakers have so far held off, other sectors have seen price hikes as companies have looked to pass on the additional cost of tariffs. Analysts said larger carmakers could take similar steps in the second half of the year. "Into H2, we are looking to gain additional visibility with regards to the ability of Mercedes-Benz and the rest of the premium OEMs to increase prices in the U.S. in order to offset the impact of tariffs," J.P. Morgan said in a note. European carmakers are also getting less optimistic that they could seal extra sector-specific tariff reductions, resigned to dealing with the 15% rate. Mercedes CEO Ola Kaellenius told analysts on Wednesday that the group was assuming tariffs would remain at 15%, throwing cold water on hopes companies may be able to negotiate individual deals. "For all intents and purposes, that global deal for now is it," said Kaellenius, also president of Europe's car lobby ACEA. Any side deals were "very uncertain". Volkswagen had said last week it was hoping investment commitments could help it negotiate lower U.S. tariffs. But Porsche CEO Blume, also head of VW, suggested there would not be a separate U.S. deal for the automotive sector. "I agree with Ola Kaellenius' assessment that there will not be a separate automotive deal," Blume said. This article was generated from an automated news agency feed without modifications to text.
Time of India
a day ago
- Time of India
Porsche trims outlook as tariffs add to 'storm' of challenges
Volkswagen's embattled luxury brand Porsche cut its full-year profitability target on Wednesday after the EU's trade deal with U.S. President Donald Trump and reported a 400-million-euro ($462 million) hit from tariffs in the first half. The burden of tariffs on car imports to the United States only added to Porsche's woes, as it undergoes a costly restructuring while facing weakness in its key market China and a sluggish transition to electric cars. "We continue to face significant challenges around the world. And this is not a storm that will pass," Porsche CEO Oliver Blume said. Taking into account the newly agreed tariff of 15 per cent from August 1, the German carmaker expects group sales this year in the range of 37 to 38 billion euros, in line with its previous forecast, and a return on sales of between 5 and 7 per cent, down from a previously expected 6.5-8.5 per cent range. Countermeasures such as price adjustments are included in that outlook as Porsche seeks to mitigate the damage, the company said. Group figures released last week showed Porsche's operating profit collapsing by 91 per cent year on year in the second quarter, to 154 million euros. In February, Porsche announced an additional 1,900 job cuts over the next four years but said it cannot announce any forced redundancies under a location safeguarding agreement valid until 2030. On Wednesday, Porsche said its management was "resolutely pushing ahead with extensive measures to rescale and recalibrate the company", with negotiations with employee representatives to begin in the second half of the year. In the first half, Porsche booked special expenses for the company's realignment of around 200 million euros and around 500 million euros for battery activities.
