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I drove a $172,000 Porsche 911 Carrera T, a beautiful throwback to the glory days of the manual transmission

22 November 2024 at 08:06
The right front corner of a blue 2025 Porsche 911 Carrera T Cabriolet parked by the road.
The 2025 Porsche 911 Carrera T Cabriolet in Lugano Blue.

Benjamin Zhang/Business Insider

  • I drove an updated 2025 Porsche 911 Carrera T Cabriolet in Lugano Blue.
  • The Carrera T is a lighter, more enthusiast-focused 911 trim and comes with a manual transmission.
  • I was impressed by its crisp shifting 6-speed, beautifully tuned handling, and melodic boxer engine.

The Porsche 911 is an automotive icon in the truest sense of the word, a representative symbol of what a sports car should be.

It's meticulously honed to be perfectly docile for your daily commute and ruthlessly effective on the racetrack.

Traditionally, the transmission of choice for the 911 is a slick-shifting manual. But those have mostly gone by the wayside, present on just 1.7% of cars sold in the US last year.

Sadly, the same fate has befallen 911. Only a few high-end models, like the track-focused GT3, are offered with a manual transmission.

But the Carrera T is trying to change that narrative.

Starting in 2025, the manual transmission will not only be standard on the Carrera T, it will be the only transmission offered on he model.

I recently had the chance to spend a morning behind the wheel of a new 992.2 generation Porsche 911 Carrera T Cabriolet in Lugano Blue.
The left front of a blue 2025 Porsche 911 Carrera T Cabriolet parked in front of a hotel.
A 2025 911 Carrera T Cabriolet at a drive event hosted by Porsche.

Benjamin Zhang/Business Insider

I was blown away by 911's crisp-shifting, six-speed manual transmission, beautifully tuned handling, and melodic twin-turbocharged boxer engine.

During our brief encounter, I didn't find too much wrong with the Carrera T, but I do miss the rotary ignition switch that has been replaced with a push button.

My test car costs $171,665.
The left rear of a blue 2025 Porsche 911 Carrera T Cabriolet parked on the side of the road.
A 2025 Porsche 911 Carrera T Cabriolet.

Benjamin Zhang/Business Insider

My 911 Carrera T Cabriolet test car starts at $147,300.

Freight fees and more than $22,000 in luxury and tech options pushed the as-tested price to $171,665.

Although pricey, that still pales in comparison to the more hardcore variants like the 911 Turbo and 911 GT3, which start at $197,200 and $222,500, respectively.

2025 marks the first year of the updated 992.2 generation 911.
The left side of a blue 2025 Porsche 911 Carrera T Cabriolet on the side of the road.
A 2025 Porsche 911 Carrera T Cabriolet.

Benjamin Zhang/Business Insider

Porsche made a host of changes to the 992.1 generation, which launched in 2020, to create the 992.2.

The updates include refinements to the 911's chassis, updates to the PDK twin-clutch transmission, and a new six-speed manual transmission for the Carrera T.

But the biggest change will be the 911 GTS's new hybrid drivetrain, a first for the sports car.

The 911 Carrera T is powered by a 3.0-liter twin-turbocharged boxer six-cylinder engine.
The rear of a blue 2025 Porsche 911 Carrera T Cabriolet parked on the side of a road.
A 2025 Porsche 911 Carrera T Cabriolet.

Benjamin Zhang/Business Insider

The Porsche 911 Carrera T's twin-turbo boxer six-cylinder produces a stout 388 horsepower and 331 lb-ft of torque. Its power is sent to the rear wheels through a six-speed manual transmission.

The melodic flat six sits in its rightful place behind the 911's rear axle.

The centerpiece of the 911 Carrera T experience is the six-speed manual.
The walnut six-speed manual transmission shifter on the center console of a 2025 Porsche 911 Carrera T Cabriolet.
The 911 Carrera T's six-speed manual shifter.

Benjamin Zhang/Business Insider

The Carrera T's six-speed manual is lighter and feels more natural to shift than the seven-speed it replaced.

The open pore, laminate walnut shift nob is stunning and feels great in your hand.

The T's standard Carrera S wheels look amazing.
The 20-inch Carrera S wheel on the left front of a blue 2025 Porsche 911 Carrera T Cabriolet.
The Carrera S wheel on the 2025 Porsche 911 Carrera T Cabriolet.

Benjamin Zhang/Business Insider

The wheels are 20 inches in front and 21 inches out back.

The Carrera T is a dream to drive.
The left rear of a blue 2025 Porsche 911 Carrera T Cabriolet with the top down parked on the side of the road.
A 2025 Porsche 911 Carrera T Cabriolet with its top down.

Benjamin Zhang/Business Insider

The Carrera T continues the 911 tradition as one of the great driving experiences in the world.

Carving my way through the winding mountain roads in North Georgia, the 911 Carrera T was in its element.

The twin-turbo boxer six delivered smooth, consistent power and a sweet rumble, while the six-speed felt as crisp and precise as any manual I've ever driven.

Pair that with the 911's perfectly tuned suspension, and the experience is otherworldly.

The Porsche Torque Vectoring system helps with cornering performance. It uses a mechanical rear differential combined with targeted computer-controlled braking action to send power to the outside rear wheels.

The Carrera T also comes standard with rear-axle steering, which makes it more agile at low speeds and stable at high speeds.

According to Porsche, the 911 Carrera T Cabriolet is good for 0-60 mph runs in 4.5 seconds and a top speed of 182 mph.

Open up the top, and you'll find a modern cabin that also exudes traditional Porsche.
Three photos show the front dash, center console, infotainment screen, and digital gauge display of a blue 2025 Porsche 911 Carrera T Cabriolet.
The Carrera T Cabriolet's cabin.

Benjamin Zhang/Business Insider

The 911's cabin is a de facto cockpit built around the driver, designed for easy, intuitive operation while driving enthusiastically.

As a result, ergonomics are excellent. Everything is within reach, the adaptive sport seats were supremely supportive, and the 10.9-inch touchscreen running Porsche's PCM infotainment system comes with Apple CarPlay.

In front of the driver, the digital instrument cluster, which replaced Porsche's classic five-gauge on the 992.1, remains. Although it can be configured to look like the old analog setup.

The 911's ignition remains on the left side of the steering wheel, but the twist switch that was designed to mimic a physical key has been replaced by a simple push button.

My Verdict: The 2025 Porsche 911 Carrera T Cabriolet is a reminder that how you get to your destination matters just as much as how fast you get there.
A blue 2025 Porsche 911 Carrera T Cabriolet with the top down parked on the side of the road.
A 2025 Porsche 911 Carrera T Cabriolet with the top down.

Benjamin Zhang/Business Insider

The Carrera T, for all of its performance attributes, is statistically one of the slowest variants of the Porsche 911 you can buy.

It's nearly two seconds slower to 60 mph and more than 200 horsepower down on the performance monster that's the 911 Turbo S.

But I'd gladly trade that extra two seconds and two hundred horsepower for the sheer driving pleasure the Carrera T can deliver on a winding mountain road.

Sometimes, slower is better, and there's value in savoring the journey to your destination. The Porsche 911 Carrera T Cabriolet is a constant reminder of that.

Read the original article on Business Insider

Meet Wall Street billionaire Howard Lutnick, Donald Trump's nominee for commerce secretary

A man stands at a Trump/Vance podium
Howard Lutnick has served as President-elect Donald Trump's transition team cochair.

ANGELA WEISS / AFP

  • Donald Trump has tapped Wall Street CEO Howard Lutnick for commerce secretary.
  • Lutnick has spent over three decades running Cantor Fitzgerald, an investment bank in New York.
  • See his career highlights and who could take over at Cantor Fitzgerald.

Howard Lutnick, the CEO of Wall Street investment bank Cantor Fitzgerald, has been named the next US secretary of commerce for Donald Trump.

As the head of the Commerce Department, Lutnick would have sway over the economy through tariffs and trade. If confirmed by the Senate, he would be integral to Trump's plan to raise tariffs on goods from China, a central promise of the president-elect's bid for a second White House term.

The Wall Street veteran has spent his career at financial-services firm Cantor Fitzgerald, where he has been president and CEO since 1991. In recent years, the billionaire banker has become a key advisor to and fundraiser for the 47th president. He is cochair of the Trump transition team.

Here's a look at Lutnick's rise from "middle-class Long Island" to Wall Street boss and what his new role could mean for the investment bank he heads.

Who is Howard Lutnick?
A woman interviews a man in a suit
Reporter Rosanna Scotto with Howard Lutnick

Dave Kotinsky/Getty Images for The Cantor Fitzgerald Relief Fund

Lutnick was named president and CEO of Cantor Fitzgerald in 1991 β€” at age 29 β€” and, by 1996, had been appointed chairman.

In an interview on a podcast hosted by the investor Anthony Pompliano, he said that he had a "classic middle-class Long Island" childhood, with his mother working as an art teacher and his father as a history professor. His mother passed away from breast cancer when Lutnick was in the 11th grade, and his father died from cancer shortly after he started college.

He was 18 and found himself caring for his younger brother, who was 15 at the time. He also had a 20-year-old sister. He recalled being unable to cook for his siblings, so they ate boxed macaroni and cheese night after night, he shared on the podcast.

Lutnick said in the podcast that he landed his first job at Cantor Fitzgerald with the help of a family connection. He took a semester off of his studies at Haverford College to start working but eventually earned his degree in economics.

What is Cantor Fitzgerald?
Howard Lutnick Cantor Fitzgerald
Howard Lutnick is the chairman and CEO of Cantor Fitzgerald.

Gary Gershoff/Getty Images

Cantor Fitzgerald offers a range of services, from investment banking to sales and trading to equity research.

The firm's website said it has raised more than $45 billion for clients through 700 deals since 2016 and that it has more than 1,150 active institutional and corporate clients. The New York City-based firm counts more than 245 professionals on its sales and trading team and cites its "core expertise" as healthcare and technology.

The firm's asset-management arm had some $13.2 billion in assets as of the end of 2023 with investments in real estate, private markets, infrastructure, equities, and fixed income, to name a few.

Cantor's biggest deals
(L-R) Allison Lutnick and Howard Lutnick attend Charity Day 2024 hosted by The Cantor Fitzgerald Relief Fund at Cantor Fitzgerald on September 11, 2024 in New York City
(L-R) Allison Lutnick and Howard Lutnick attend Charity Day 2024 hosted by The Cantor Fitzgerald Relief Fund at Cantor Fitzgerald on September 11, 2024 in New York City.

Paul Morigi/Getty Images for The Cantor Fitzgerald Relief Fund

According to data from the deal-tracking firm Dealogic, three of the largest and most recent transactions Cantor Fitzgerald has advised on include:

  • Johnson & Johnson's $1.9 billion acquisition of Ambrx Biopharma, completed in January 2024
  • Primavera Capital's $866 million acquisition of Fosun Fashion Group, completed in March 2022
  • Inflection Point Acquisition Corp's $850 million acquisition of Intuitive Machines, completed in September 2022

Out of their top 20 deals by transaction size since 2022, the most represented sectors were tech, healthcare, and utilities and energy. Six of those deals were in technology, five in healthcare, three in utilities and energy, two in retail, two in mining, and one each in aerospace and transportation.

Who's next in line to lead the firm?
Howard Lutnick
Howard Lutnick speaks at a Trump rally at Madison Square Garden.

ANGELA WEISS/AFP via Getty Images

It's unclear what Cantor Fitzgerald's future looks like without Lutnick. A spokesperson for the firm did not immediately return a request for comment.

Bloomberg reported that Lutnick's top deputies have been in their respective roles for at least six years, including Stephen Merkel, an executive vice chairman and general counsel, who joined in 1993.

Other top executives, according to the firm's website, include Global chief operating officer Mark Kaplan; Global head of investment banking Sage Kelly; Global head of equities Pascal Bandelier; Global head of fixed income Christian Wall, and Chief Financial Officer Danny Salinas.

His relationship with Trump
Donald Trump, right, participates in a round table with Howard Lutnick, left, in Auburn Hills, MI, Friday, Oct. 18, 2024.
Donald Trump, right, participates in a round table with Howard Lutnick, left, in Auburn Hills, MI, Friday, Oct. 18, 2024.

DOMINIC GWINN/Middle East Images/AFP via Getty Images

Lutnick, a longtime supporter of Trump, became a visible member of the ex-president's inner circle in the 2024 election cycle.

In a statement to the Wall Street Journal, Trump's son, Donald Trump Jr., said: "Howard's not a regular Wall Street guy β€” he's a real MAGA guy. Have you heard him talk about tariffs? Have you heard him talk about shredding the deep state bureaucracy? He's one of us," Trump Jr. said.

Leading up to the election, he was an active organizer and fundraiser for Trump, including appearing at Trump's rally in Madison Square Garden.

The impact of the 9/11 attacks on Lutnick's life
Howard Lutnick and JD Vance attend Charity Day 2024 hosted by The Cantor Fitzgerald Relief Fund at BGC Group on September 11, 2024 in New York City.
(L-R) Howard Lutnick and JD Vance attend Charity Day 2024 hosted by The Cantor Fitzgerald Relief Fund at BGC Group on September 11, 2024 in New York City.

Dave Kotinsky/Getty Images for The Cantor Fitzgerald Relief Fund

Cantor Fitzgerald was headquartered at 1 World Trade Center when terrorists flew planes into it and a neighboring lower Manhattan building in 2001. Two-thirds of Cantor's employees, or 658 people, died in the attacks, including Lutnick's brother.

Lutnick was named the Financial Times' Person of the Year after the attacks in 2001.

His new role
A man talks on a cell phone next to a man talking
Donald Trump and Howard Lutnick

Adam GRAY / AFP

As commerce secretary, Lutnick will be in charge of carrying out Trump's aggressive tariff proposals, which have called for taxes in imports of between 10% and 60%. He will also be in charge of the Census Bureau and Bureau of Economic Analysis, which reports on gross domestic product.

Leading up to his appointment as commerce secretary, media reports suggested Lutnick was vying for a role as Treasury Secretary.

The New York Times reported this week that the behind-the-scenes jockeying between the two for the role had devolved into a "knife fight," according to a source familiar with their schism.

Read the original article on Business Insider

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