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Power Stuggle Ends - Volkswagen to Acquire Porsche

Eyecarehawaii submitted on 7/19/2009 Official Bell & Ross Timestamp: 7:36:48 AM

20 user comments | Category: Misc News | Source: | SOURCE: www.spiegel.de

Volkswagen is planning to purchase all of sports carmaker Porsche, which has run into massive financial problems linked to its overly ambitious plan to take control of VW.

The attempted takeover, which had been financed using loans, ultimately failed because of the credit crunch and ensuing liquidity problems that almost saw Porsche go bankrupt.

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Eyecarehawaii

— Eyecarehawaii (View Profile)


User Comments

Joe_Limon

awe I want to see them disappear much the way some people want gm/chrysler to disappear

— Joe_Limon (View Profile)

Posted on 7/19/2009 12:26:08 PM | reply to this comment | Votes: -2   

TurboSpyder

And why is that? You're a fool, btw.

— TurboSpyder (View Profile)

Posted on 7/19/2009 11:35:05 PM | | Votes: 3   

Joe_Limon

Why is that? Because I don't think it's good business practice to gouge faithful customers $20,000 on average per car. No badge is worth that. Not even Ferrari.

— Joe_Limon (View Profile)

Posted on 7/19/2009 11:57:58 PM | | Votes: -4   

TechRightGuy

Isn't anything's value determined by what customers are willing to pay? Pretty well how a market economy works, yes? GM's problem was customers were not willing to pay enough for their product in order for GM to sell them profitably. Porsche, on the other hand, manages to find customers for their products at the prices you seem to think are so inflated. (How are you harmed by that, such that you express such visceral feelings? Just. Don't. Buy. A. Porsche.) As to the claim that Porsche price gouges, one needs to offer some proof, especially of a let's-pull-a-number-out-of-the-air like $20k per car, transparently baseless. For the last decade, most of their profits have been derived from revenue streams other than car sales. Do some research before spewing such baseless blather.

I've owned two Porsche's, and hope shortly to buy another. I wish they cost less, I really do, as the cost is a stretch for me. But if I want the driving pleasure of a Boxster, well, there's only one source. If you should happen to think a Miata works better for you, all things considered, that's great for you. It sure doesn't make me hope Mazda will go out of business.

— TechRightGuy (View Profile)

Posted on 7/20/2009 12:28:33 AM | | Votes: 3   

Joe_Limon

I say no, just because people are willing to buy stupid things doesn't make them any more valuable. Think of all the horrible fad's that have came up through the centuries, were any of them truly worth the money? I honestly don't believe paying that much money for a symbol is worth dick all when you are dead.

— Joe_Limon (View Profile)

Posted on 7/20/2009 4:47:02 PM | | Votes: 1   

dhkss2002

Ha ha, ha ha. Say hello to the Porsche rabbit. First the Panamera now this. To hell with Porsches's independence, they are now a wholly owned VW concubine. This is great news, almost as good as the GT-R raping the 997 turbo at the Nurburgring.

— dhkss2002 (View Profile)

Posted on 7/19/2009 12:58:10 PM | reply to this comment | Votes: 0   

Invisible

I read that the original 924 was not to actually be a Porsche, and much of the front suspension components were borrowed from a VW Rabbit. Just something I remember from decades ago.

— Invisible (View Profile)

Posted on 7/20/2009 8:35:53 AM | | Votes: 1   

M316

Here come the front wheel drive Porsches. 998 based on the next gen golf platform?

— M316 (View Profile)

Posted on 7/19/2009 1:47:06 PM | reply to this comment | Votes: 0   

1UAW

lol

— 1UAW (View Profile)

Posted on 7/19/2009 10:10:44 PM | | Votes: -1   

Invisible

Porsche already has Front wheel drive based. They sell the rebadged VW Touareg.

— Invisible (View Profile)

Posted on 7/20/2009 8:38:17 AM | | Votes: 1   

F1_Driver

I guess "prestige" will only take you so far in this life.

— F1_Driver (View Profile)

Posted on 7/19/2009 3:08:04 PM | reply to this comment | Votes: 2   

TechRightGuy

Wendelin Wiedekin was virtually worshipped as the saviour of Porsche by first widening their focus into non-core vehicle types (apologies to any of you who love trucks beaten with an ugly stick, as long as you imagine it will impress others) at the absolute wrong time in history (market timing much?) then deriving all their actual profits from currency trading and and hedging. You are only as good as your last play, and this guy goes down as the worst failure in Porsche's history, throwing away their independency for no good reason. Of all the possible endings to this soap opera, at least this one stands a good chance of doing no harm to their core models. VW has actually been a decent steward of their acquisitions.

— TechRightGuy (View Profile)

Posted on 7/19/2009 3:27:22 PM | reply to this comment | Votes: 6   

pcar4evr

Can't wait for the next generation VW 911 turbo to hop right past the GTR

— pcar4evr (View Profile)

Posted on 7/19/2009 3:51:13 PM | reply to this comment | Votes: -9   

Agent63

Porsche is in good company anyways. The two families are laughing at all of you people putting down the brand when they're in the Swiss Alps in their Porsche's, Bugatti's, and Lamborghini's sipping on fine wine and eating caviar.

VW and Porsche will still operate separately but obviously continue to share some of their production line. In the end, who cares who owns who. For example look at who owns Ferrari? A clear indication it doesn't matter who is at the top. The two families that rule Porsche and VW have been getting filthy rich for generations, TOGETHER. Why the shock and awe?

— Agent63 (View Profile)

Posted on 7/19/2009 5:06:41 PM | reply to this comment | Votes: 3   

0to60

you probably refer to Lexus as a Toyota!

— 0to60 (View Profile)

Posted on 7/19/2009 10:55:58 PM | | Votes: -3   

BondMI6

This is good thing for Porsche- they bit off more than they could chew with the takeover and Panamera and now hopefully this will put more of an emphasis right where it should have been all along on their core model- the 911.

— BondMI6 (View Profile)

Posted on 7/19/2009 5:54:15 PM | reply to this comment | Votes: 7   

sector

Porsche will need to reduce their huge markups now since no one will be dumb enough to pay so much for a dressed up V-Dub.

— sector (View Profile)

Posted on 7/19/2009 8:43:18 PM | reply to this comment | Votes: -9   

Agent63

Don't have to hate on a company because you can't afford to own one.

— Agent63 (View Profile)

Posted on 7/20/2009 6:58:24 AM | | Votes: 8   

Invisible

Sector, you need to do some research on the decades of VW/Porsche engine/transmission/platform sharing.

— Invisible (View Profile)

Posted on 7/20/2009 8:41:20 AM | | Votes: 4   

Timzilla

Yea its amazing to me that so many people are so ill informed. Yes people do pay $50,000 more for a Cayenne Turbo then a Toureg, and all they pay for is the badge nothing is different... right....

Remember this has nothing to do with production. It wasn't Panamera that made this happen, it wasn't day to day business, it was the fact that the wealthiest car company attempted to purchase the largest car company in Europe. Had they been successful then Wiedeking would be thought of as a genius! It was just bad timing.

— Timzilla (View Profile)

Posted on 7/20/2009 10:53:48 AM | reply to this comment | Votes: 2   

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