RE: Porsche Set To Buy Control Of VW
Tuesday 4th March 2008
Insert 'just a VW Beetle' joke here...It will give the prestigious car maker access to diesel engines and more sourced components - VW currently supplies around a third of Porsche parts.
The move coincides with VW buying a controlling stake in Swedish truck maker Scania which in turn now gives Porsche huge control over the European car industry.
But Porsche says it is not planning to merge with Volkswagen.
The firm's chief executive Wendelin Wiedeking said: "Our aim is to create one of the strongest and most innovative automobile alliances in the world, which is able to measure up to the increased international competition."
Porsche Set To Buy Control Of VW
Porsche has set the car industry alight with plans to buy a controlling stake in VW.
Insert 'just a VW Beetle' joke here...
The move coincides with VW buying a controlling stake in Swedish truck maker Scania which in turn now gives Porsche huge control over the European car industry.
But Porsche says it is not planning to merge with Volkswagen.
The firm's chief executive Wendelin Wiedeking said: "Our aim is to create one of the strongest and most innovative automobile alliances in the world, which is able to measure up to the increased international competition."
Discussion
It's as simple as this: when Mr Piech - grandson of Ferdinand Porsche, the founder of Porsche - was CEO of Volkswagen VW had to develop and supply Porsche with the Cayenne body as well as other components. VW made a loss on this deal and the shares' value went down. Porsche on the other hand made huge money which was used to buy the now cheap VW shares.
Porsche dictates the prices they pay on components as Mr Piech, who's family owns the majority of Porsche, is chairman of the supervisory board at VW and the CEO of VW has to do what Mr Piech wnats otherwise the CEO will be fired.
Porsche dictates the prices they pay on components as Mr Piech, who's family owns the majority of Porsche, is chairman of the supervisory board at VW and the CEO of VW has to do what Mr Piech wnats otherwise the CEO will be fired.
BSC said:
It's as simple as this: when Mr Piech - grandson of Ferdinand Porsche, the founder of Porsche - was CEO of Volkswagen VW had to develop and supply Porsche with the Cayenne body as well as other components. VW made a loss on this deal and the shares' value went down. Porsche on the other hand made huge money which was used to buy the now cheap VW shares.
Porsche dictates the prices they pay on components as Mr Piech, who's family owns the majority of Porsche, is chairman of the supervisory board at VW and the CEO of VW has to do what Mr Piech wnats otherwise the CEO will be fired.
In other words: incest!Porsche dictates the prices they pay on components as Mr Piech, who's family owns the majority of Porsche, is chairman of the supervisory board at VW and the CEO of VW has to do what Mr Piech wnats otherwise the CEO will be fired.
BSC said:
It's as simple as this...
disagreecayenne is basicly a toerag so the cayenne chassis development costs were absorbed in the bigger program... the cost of this development is tiny compared to VAG's turnover so not material in porsche's takeover. vw's share price was held back by the vw rule. porsche got this overturned through the eu comp commission last year, but not before they had bought a tonne of calls on vw, locking in their previous cheap price. porsche were only able to do this by selling lots of extremely profitable cars in the first place. with impending euro cafe rules they had to do it.
mx-tro said:
Hopefully this will give Porsche the clout of the single largest car manufacturer in Europe, thus adding more weight to their challenge of the London Congestion Charge CO2 penalty.
Malcolm
Unlikely.Malcolm
See the latest innovations at the Geneva motor show, and compare Porsche's offering with that of its competitors.
Why do you think size automatically equates to clout in this instance?
bcnrml said:
mx-tro said:
Hopefully this will give Porsche the clout of the single largest car manufacturer in Europe, thus adding more weight to their challenge of the London Congestion Charge CO2 penalty.
Malcolm
Unlikely.Malcolm
See the latest innovations at the Geneva motor show, and compare Porsche's offering with that of its competitors.
Why do you think size automatically equates to clout in this instance?
What we are now seeing is a move from regional car manufacturer to global automotive empire, comparable to Ford, Toyota etc. In what sense do you think that they won't have "clout"?
Seat and Skoda worked really well. Its a shame no one can persuade Porsche VAG to buy Jag and Landrover. The next freelander could be another cayene/torag clone and they could knock out golfs/passats/phaetons with jag badges all day long. That way some manufacturing could stay in this country, just like they did with Skoda and Seat.
[AJ] said:
Dave D said:
Wave goodbye to a superior piece of engineering. 
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No, just expect the 998 to be even better!Why spend a fortune further developing a flawed concept to keep up with a competitor when you can just buy 51% of the competitor and have your cake and eat it,
:incoming:
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