Anyone have any idea where this could be coming from?

I didn't have time to remove the shield and only just noticed it after a spirited drive this afternoon.

 

 

That was my first though but the AC wasn't running. Well actually, blower was on 77 and 3 bars... that wouldn't cause it though, right?

 

 

Its red so assuming coolant?

 

early pans had a glued in coolant cross piece - could be from that failing - look higher up on the engine

 

 

Imo, I would stick my finger in the liquid then smell it. Pdk fluid is reddish, and fix is fundamentally different from coolant leak. Some window washer fluids are red too.
Just smell it and you will know without guessing, then go from there.

 

Agree, see what the fluid is. Once while spirited days with my 911 I found blue liquid running inside fenders and down the lip of the door, after I panicked I realized it was washer fluid which had been sloshed out the cap.