News reports have it that Porsche Automobil Holding SE has rejected the ultimatum that was made by Volkswagen AG and the German state of Lower Saxony to finally made a decision and merge with VW. In a statement that was made by the Porsche Supervisory Board Chair Wolfgang Porsche and Deputy Chair Uwe Hueck, they said that they don’t want to get blackmailed and said that the pressure on them will not help in the discussions. It seems that the company wanted to proceed with the talks on its own terms without pressure coming from the outside. And the demand comes as intrusive and highly irritating for them, and the two added in the statement that the ‘ultimatum don’t belong in the 21st century’. In their statement, they said that the issuers of the ultimatum should calm down and pursue once again proposal in private and not pressured by deadlines.
Filed under: Porsche , Porsche, Volkswagen, VW
America’s affluent population once again named Porsche as the most prestigious car available in the market right now. This is the fourth year that the brand has snagged this accolade. This was based on Luxury Institute 2008 survey on luxury brands. On the survey, eleven auto brands were rated and Porsche topped ‘em all. Following the lead of Porsche is Lexus at number 2 and Mercedes-Benz at number three. Luxury Institute surveyed 1,600 American consumers that has an average income of $349,000.00 and average net worth of $3.7 million. Clearly, the intent of the survey was really to talk to the moneyed class and get their take on what is the most desired car or the more prestigious car for them! For this year’s survey, the participants reacted in a positive note on Porsche for its stellar performance reputation.
Porsche has always been known as one of those leading brands in terms of performance and prestige. Most of the brand’s models are best-sellers. For example, there’s the Porsche 911, the Boxter Roadster, the Cayman, the Cayenne and the Carrera GT.
Lexus on the other hand is the luxury division of Toyota Motor Corporation. The brand is often adjudged as the most reliable auto in the market right now. Right now, Lexus is considered as the fourth largest luxury brand in the world by volume.
Filed under: Lexus, Porsche , Lexus, most prestigious car, Porsche
Porsche is set to gain a majority control of Volkswagen in September or October. It is expected that Porsche will hike its share from 31 percent to more than 50 percent. It was mentioned that an approval is still needed, coming from the European Commission and 15 other cartel offices. If the approval has been received, then Porsche AG will raise its stakes in VW to more than 50 percent. Right now, it was reported that Porsche and VW are discussing the possible areas of cooperation. One of the things that are being discussed is the idea of producing a small Porsche SUV using the platform of the new Audi Q5 and also the idea of jointly producing the next generation Audio TT and the Porsche Boxster.
But the news of a Porsche takeover wasn’t warmly welcomed. At a meeting in Hamburg the executives of Porsche and the a stake holder- the German state of Lower Saxony clashed over the plans. The German state which holds a 20.3 percent state at Volkswagen seeks a continuation of the so-called Volkswagen Law. A law that effectively protects the VW brand from takeover bids coming from outside Germany.
Filed under: Porsche, Volkswagen , Porsche, Volkswagen, VW
