Volkswagen has announced that it will take a 49.9% stake in sports car maker Porsche in a first step towards merging with the company. Volkswagen’s initial plan was to acquire 42% of Porsche and with the increase in stake, Volkswagen’s position in the equation will be stronger sooner than expected. The German auto giant also assured that the merger between both companies is still scheduled to take place in 2011.
Currently both companies are working together in certain areas such as manufacturing the Porsche Cayenne and the Volkswagen Touareg in the same plant as well as the utilization of Volkswagen’s 3.6 litre V6 by Porsche. The above mentioned 49.9% stake will cost $5.8 billion and the company also assured that it is committed in “preserving the independence and the interests of Porsche” – which is a good move.
Porsche will join other brands like Bugatti, Audi, Lamborghini as well as Bentley to become the company’s 10th brand. Volkswagen also announced that it plans to increase its preferred share capital by the first half of 2010 in order to refinance the participation and maintain Volkswagen’s good credit rating.
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huh? porsche is having a bad time?
Zaman kejatuhan……….
ah..pening already..
neverending case of "whose-own-who"? :P
way to go volkswagen!
buy all these luxury brands and we may get volks-gini or volks-che :)
Panamera is not doing well?
Funny that in the begining, it was Porsche that wanted to take over VW when they make a huge profit couple of years back. Now, the hunter have become the hunted and lost 49.9% of its shares? I personally think that Porsche biggest mistake is its over ambition especially with the Panamera model. Porsche really need to sell it ASAP b4 the gorgeous Aston Rapide is out! Anyway, I think Porsche is in good hands…who else is better to handle such prestige name than VW just like what they did with Bugatti and Lamborghini.
Porsche is facing bankruptcy because they overgeared themselves when they tried to take full control of VW. It backfired, the Porsche boss stepped down and now VW is doing a reverse takeover to not to control Porsche but to save the German sports car maker. All boardroom tussle between the Porsche family members and their 'in laws'.
I think the VW control over Porsche itself is going to put a lot of financial risk on VW. But this is a real life German version of the tv hit soap 'Dynasty' :)
The Panamera is already on sale and has beaten the others (Rapide) to the marketplace. You can view it in the Porsche KL showroom.I don't think they made a bad call with the Panamera. It is where the market is moving.. They beat everyone to it, they are expanding into a new segment and the product is very impressive. Better than the Rapide in my view. Have sat in it.
Ferruccio said,
October 21, 2009 @ 12:13 pm
The Panamera is already on sale and has beaten the others (Rapide) to the marketplace. You can view it in the Porsche KL showroom.I don’t think they made a bad call with the Panamera. It is where the market is moving.. They beat everyone to it, they are expanding into a new segment and the product is very impressive. Better than the Rapide in my view. Have sat in it.
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Bro, I know that the Panamera is here and have beaten others by launching it earlier but as far as I know Rapide is still ain't out yet right? As most foreign magazine I read, most journalist commented that the Rapide is more gorgeous and should give the Panamera a runs for its money. Anyway, I ain't saying that the Panamera is not well built…I mean its a Porsche for god sake!! But I think I'll just wait for the Rapide to come out and let's this two compete face to face and see who's has the best 'recipe' for the ultimate performance saloon then.
Nice post and love the 'Dynasty' point of view!! Cheers…
how ironic that at first Porsche own VW… and now they own Porsche as their 10th brand…
just hope they didn't bankrupt like GM… :p
Torque, i think it's mostly down to personal taste between Rapide and Panamera. The latter, like a typical Porsche ain't the prettiest thing around. The Rapide looks handsome but personally I'm just bored with the styling and can't tell the difference between an AMV8, DB9, Rapide or Vanquish if it was about to run me over :)
Reports have said that the Rapide is tight in the rear interior. The Panamera in my view excels because of its interior, powertrain and handling. You just have to close your eyes as you walk to the car but once inside it's very classy. It's the classiest Porsche interior ever. You also simply can't deny the 4.8 turbo V8. With launch control and overboost this heavy 4 seater monster does 0-100 kph in 4.0 seconds! That's exotic sportscar figures.
buy here buy there
Hove VW has 49.9% power to revolutionize the porsche design
This is what happens when Porche stick to that same design for 50 years. People get bored
mystvearn said,
October 21, 2009 @ 4:31 pm
This is what happens when Porche stick to that same design for 50 years. People get bored
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Are you implying that Porsche car sales are declining? Are you sure?
haha! if i am not mistaken, i remember that porsche tried to buy over VW a few years ago.
anyway, i heard that porsche is in this sad state because they were betting on their portfolio investments which dropped in value as well as the failure of their takeover bid.
nvm also, i never really liked porsche's ex ceo. can point middle finger in boardroom meeting somemore. lol.
martin winterkorn better.
wind of change by scorpions
csv said,
nvm also, i never really liked porsche’s ex ceo. can point middle finger in boardroom meeting somemore. lol.
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did he point it towards you in the boardroom being the reason that you didn't like him? :)
j/k, dude.
Ferruccio said,
October 21, 2009 @ 1:21 pm
…I’m just bored with the styling and can’t tell the difference between an AMV8, DB9, Rapide or Vanquish if it was about to run me over…
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That my fren I can't argue with ya…heh heh heh! :-)