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$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Chrysler slows minivan production, hasn't built VW Routan this year

Chrysler has slowed production of its Town and Country and Dodge Grand Caravan minivans this week, Automotive News reports. The Windsor, Ontario plant will cut its three shifts from eight hours each to four hours each in an effort "to align production with market demand," a Chrysler spokesperson told AN. Chrysler also builds the closely related Routan minivan for Volkswagen at its Ontario facility, but has not built a single example thus far in 2013.
Sales of Chrysler's minivans fell 15 percent for the first two months of 2013, and a large part of that has to do with the 26-percent drop of the Grand Caravan alone (the T&C was only down by one percent). According to Automotive News data, as of March 1, Chrysler had an unsold inventory of 24,713 Town and Country models and 18,547 Grand Caravans - a 69- and 43-day supply, respectively.
"No sense running full speed now, then have a lot of vehicles sitting around a few months down the line," Chrysler spokeswoman Jodi Tinson told AN. Full production is expected to resume again on March 18.

Volkswagen to add 50k jobs by 2018

Volkswagen still has its eyes set on becoming the top global automaker by 2018, and to get there, it's apparently going to need more boots on the ground. Automotive News Europe is reporting that VW is looking to increase its staff by 50,000 over the next five years - an increase of nine percent - which does not include an increase in its US dealer network.
According to the report, a majority of the growth will come from China where the automaker is also looking to double its production capacity in the same time frame. The Volkswagen Group is already expected to rival General Motors for the top sales spot in China this year, and such a rapid expansion in the region could make a good springboard for sales increases in other countries.