VW and Porsche to merge

[davidwort 0]

http://news.bbc.co.uk/1/hi/business/8036748.stm

[Jim 2]

Wow.. so it's finally happening!

 

Can only hope we see some Porsche tuned 'hot' Golfs and Scirocco's :D

[mrbeige 0]

Can only hope we see some Porsche tuned 'hot' Golfs and Scirocco's :D

Now that WOULD be interesting

[tyler 0]

at the start o0f the credit crunch while the prices slumped porsche bought almost all vws shares and it was almost a take over then.i think there are the minorty share holder aT 49% or something ,it happened really quick and vw did not see it coming :(

[horney 0]

VW want it as Porsche are cash rich. it works out nicely for both sides.

 

VW get access to oodles of cash and porsche parts bins.

 

Porsche get to carry on building gas guzzling sports cars. EU legislation requires car companys to have an average CO2 outut across their range. By having VAG on the books Porsche have slashed their average output of CO2 without having to build an Eco car.

 

So it's all win win and the companies have had close ties for years.

 

nick

[Dude VR6 0]

Its not the first time these 2 copanys have been linked together, Porsche have only been an independant company for 50 odd years, before that Porsche used to work for VW.

[davidwort 0]

Its not the first time these 2 copanys have been linked together, Porsche have only been an independant company for 50 odd years, before that Porsche used to work for VW.

yep, lots of VW bits on Porkers, 911's used to have the same side repeaters as Corrados :)

the 924 was designed as an audi, and had the audi 5 cylinder lump in it

[mrbeige 0]

the 924 was designed as an audi, and had the audi 5 cylinder lump in it

Audi didn't want though, hence the Porsche badge, right?

[CTWG60 0]

http://en.wikipedia.org/wiki/Volkswagen ... _companies

 

So now porsche own lamborghini! :scratch:

[BigTartanJudge 0]

http://en.wikipedia.org/wiki/Volkswagen_Group#Corporate_structure.2C_brands_and_companies

 

So now porsche own lamborghini! :scratch:

 

Not really.....the companies are only merging, Porsche is not taking over the VAG group

[Tempest 0]

VW want it as Porsche are cash rich. it works out nicely for both sides.

 

VW get access to oodles of cash and porsche parts bins.

 

Porsche get to carry on building gas guzzling sports cars. EU legislation requires car companys to have an average CO2 outut across their range. By having VAG on the books Porsche have slashed their average output of CO2 without having to build an Eco car.

 

So it's all win win and the companies have had close ties for years.

 

nick

 

Not quite.

 

More a question of Porsche having created too many debts to finance the take-over of VW, such that the 2 owner families, Porsche and Piech, were fed up with Wiedeking (first signs of falling grace were apparent in China at the motorshow there few weeks ago, when Wiedeking was not sitting right next to Wolfgang Porsche at some press conference rather than at the other end of the table - it´s little signs like this that give the game away!), and now that some of these debts have to be repaid, the 2 owner families begrudgingly have to start financing this themselves! Not good. So Piech, who´s always been pretty deeply involved with VW anyway, forged ahead with some politics (always has, since he has often been at loggerheads with Wiedeking, the way Wiedeking wanted to deal with workers´ representation/council at VW etc.) resulting in a merger as the best solution to the cash problem that Porsche now have. Nope, they´re no longer cash rich, on the contrary, they have huge debts due to the take-over attempt (which has ultimately failed due to the car market collapsing, as well as the credit crunch, difficulty obtaining credit).

 

This also means that the on-going war between Porsche (through the EU courts) and the state of Lower Saxony, who hold a 20% veto shareholdership in VW may now come to an end. It was the veto right that prevented Porsche from taking over the entire of VW, because even with 80% ownership, the state of Lower Saxony would alsways be able to overrule. The state of Lower Saxony should have the worker´s interests at heart rather than just profit-greed (they have failed to show this with Karmann, of course).

 

Tempest

[scottlpool2003 0]

Yeah this has been happening for quite some time now. I'm surprised this happened due to the current state of the automotive industry.