Porsche Ups Stake In VW And Assumes Full Control - Next Step Is Audi

Agent009 submitted on 9/16/2008 Official Bell & Ross Timestamp: 11:23:27 AM

19 user comments | Views : 13,057 | Category: Misc News | Source: | SOURCE: www.autonews.com

SHARE THIS ARTICLE

Porsche today said it has raised its stake in Volkswagen group to 35 percent from 31 percent.

It said VW is now a subsidiary of Porsche Automobil Holding under German law.

Porsche also said it is required by law to submit a formal mandatory offer for VW subsidiary Audi as a result of the new shareholder structure.

Porsche CEO Wendelin Wiedeking said the sports car maker has no interest in separating Audi from VW group.

"We see Audi as an integral part of VW group and have no interest in taking the company out of the group," Wiedeking said in a statement.

Porsche said its takeover offer for Audi will be at the minimum price of about 487 euros per share.



Read Article


Porsche Ups Stake In VW And Assumes Full Control - Next Step Is Audi

About the Author

Agent009

Honor thy error as a hidden intention.

— Agent009 (View Profile)


User Comments

sector

Porsche already use plethora of parts from VW already anyway, this is a logical move.

— sector (View Profile)

Posted on 9/16/2008 12:03:17 PM | reply to this comment | Votes: 2   

E92_M_Power

LoL

— E92_M_Power (View Profile)

Posted on 9/16/2008 1:33:05 PM | reply to this comment | Votes: -2   

Agent63

I bet you can't even afford those glorified VW's. Only envious people say comments like that. Has nothing to do with Porsche upstaking VW and assuming full control.

— Agent63 (View Profile)

Posted on 9/17/2008 9:14:39 PM | reply to this comment | Votes: 0   

supermoto

Porsche had to do this otherwise they would cease to exist (since environmental laws are forcing every company to have a high average fuel economy). Could you imagine if porsche had to get 35mpg across its lineup (with no Audi and VW)? It would be a disaster...a 130hp hybrid 911.

— supermoto (View Profile)

Posted on 9/16/2008 1:28:46 PM | reply to this comment | Votes: 0   

nybimmer

I think Porsche will basically have to re-introduce a 924-esque car (i.e. cheap and fuel efficient) to stay competitive during the next few years. The economic doldrums of the fabulous 70's are back :-(

— nybimmer (View Profile)

Posted on 9/16/2008 3:28:30 PM | | Votes: 1   

uhn2000

I know for a fact that although Porsche engines are bad on gas (flat or TT 6 cylinder) they perform just how you drive the car. Its actually one of the most effecient engines in the world releasing cleaner air to the env. then what you would breath in LA, Bombay, or parts of China.

Porsche did this to survive as a car manufacturer and big a player in the other markets without having to launch their own new brands or further extend theirs beyond what it should be.

— uhn2000 (View Profile)

Posted on 9/16/2008 4:11:05 PM | | Votes: 1   

quizz

supermoto, under your logic, how long until Ferrari ceases to exist? It no longer operates under Fiat, right? So I don't know where it's going to get the higher average fuel economy from. Maserati has terrible fuel economy across the board.

— quizz (View Profile)

Posted on 9/16/2008 10:56:55 PM | | Votes: 2   

ILikeLambo

@quizz

Ferrari's and Lamborghini's have an exclusive bunch of clients that usually get driven less than 5000 miles a year on average, so because of that they can exploit a loophole in the law or something.

— ILikeLambo (View Profile)

Posted on 9/17/2008 3:45:10 AM | | Votes: 1   

Threepoint1415926

Sans the Cayenne, I cant think of a lot of parts sharing going on.

— Threepoint1415926 (View Profile)

Posted on 9/16/2008 1:41:31 PM | reply to this comment | Votes: 1   

Agent009

A lot of it has to do with VW making spec built parts for Porsche in their factories. So while it has a Porsche part number on it, it may be built in a VW factory somewhere.

— Agent009 (View Profile)

Posted on 9/16/2008 1:47:49 PM | | Votes: 1   

TauronB2G

This was definitely a good move for Porsche. As supermmoto said they have to get their mpg numbers up. Purchasing a larger stake in VW is a great and easy way to do it. Not only does it get Porsche out of the hole it further keeps VW in german hands.
T

— TauronB2G (View Profile)

Posted on 9/16/2008 2:44:25 PM | reply to this comment | Votes: 1   

E36er

Let's remember that back in the early 90's Porsche was on the verge of going under. It came back thanks to the Boxter, a car that reinvented the way Porsche manufactured its cars. Porsche hired a several ex-Toyota consultants to help them develop a lean manufacturing process to get them back into profitability. That's right Porsche lovers, Toyota is indirectly responsible saving Porsche. Since then, they've diversified their base to include some cars that were controversial to say the least i.e. Cayanne and the Panamera. The tides have changed, Porsche now stands to be another car company with the acquisition of VW. It will interesting to see if they can maintain their status as a premium sports car without turning into another car manufacturer.

— E36er (View Profile)

Posted on 9/16/2008 2:56:29 PM | reply to this comment | Votes: 3   

LUXCAR32

it's going to suck because they are going to hold back which has become a huge competitor of theirs with the R8 and rumors of smaller mid-engine sports cars.

— LUXCAR32 (View Profile)

Posted on 9/16/2008 8:46:03 PM | reply to this comment | Votes: 0   

1dott8

i agree.

— 1dott8 (View Profile)

Posted on 9/17/2008 10:02:44 AM | reply to this comment | Votes: 2   

maxpnts

this is a great move and will make each of them stronger,as well as have even better cars across each car makers line!

— maxpnts (View Profile)

Posted on 9/18/2008 3:04:38 PM | reply to this comment | Votes: 1   

Add your Comments

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters): [img]IMAGE URL[/img]
Example: [img]http://agent001.myautospies.com/images/sample.jpg[/img]