Buy your next Porsche at the VW dealers

peasant

They gambled high and lost it all ....Porsche is to become yet another brand of Volkswagen

VW agrees Porsche merger details

Porsche has been hit hard by the global recession
Volkswagen (VW) and Porsche have agreed the details under which VW will merge with its German compatriot by 2011.

Under the deal, VW will initially buy a 42% stake in Porsche by the end of this year for 3.3bn euros ($4.7bn; £2.8bn).

The deal ends months of acrimony between the two firms, and concludes Porsche's failed efforts to buy VW.

Over the past year Porsche built up major debts to get a 51% stake in VW, only to fall short of the required 75% when it could not raise more funds.

Funding failure

Porsche's failure to buy VW saw the firm's former chief executive Wendelin Wiedeking and financial director Holger Haerter resign "with immediate effect" last month.


Porsche is a real enrichment for our company's portfolio

VW chief executive Martin Winterkorn
It failed to raise the funds to increase its shareholding in VW above 51% due to the impact of both the global credit crunch and the slump in global car sales.

Porsche will now effectively become the 10th brand in the VW family, joining the likes of Audi, Seat and Skoda.

However, VW has pledged to maintain Porsche's "independence".

It added that VW would "preserve" its own "solid financial base".

The deal values Porsche at 12.4bn euros.

'New era'

VW chief executive Martin Winterkorn said the announcement marked "a new era" for the two firms.

"Porsche is a real enrichment for our company's portfolio," he said.

Mr Winterkorn added that the Porsche and Piech families will be the largest shareholders in the merged firm.

Meanwhile, VW's home state of Lower Saxony, which owns a 20% stake in the firm, will retain the right to block important decisions

http://news.bbc.co.uk/2/hi/business/8200648.stm

whippet

probably not the worst news, look what VAG have done with Lambo, it's like lambo are having an indian summer.

unkel

Ferdi P. (Piech not Porsche) is the daddy - we should have known that

mcauley

So, how long before people get told "Sure your Cayman is just a dolled up Audi TT. . ."

smash

whippet wrote: »

probably not the worst news, look what VAG have done with Lambo, it's like lambo are having an indian summer.

Lamo's sales figures are through the roof at the moment! It's great

mcauley wrote: »

So, how long before people get told "Sure your Cayman is just a dolled up Audi TT. . ."

I hate that attitude! You never hear people saying "sure and Enzo is just a tarted up Fiat" but for some reason other manufacturers get it in the neck.

A while ago I was out in a Gallardo and when I stepped out a friend said "So how's the Audi?", I looked at his Elise and said "A lot better than your Rover!"

Anan1

mcauley wrote: »

So, how long before people get told "Sure your Cayman is just a dolled up Audi TT. . ."

So how long before it's true?;)

Robbo

mcauley wrote: »

So, how long before people get told "Sure your Cayman is just a dolled up Audi TT. . ."

I'm just waiting for them to drop the 1.9 TDI paraffin stove into the Boxster. That will warrant at least 4 "Red I's" on the badge and maybe a red exclamation mark.

Cmar-Ireland

[Sarcasim mode on]

Oh sweet Jesus, now the TDi brigade and going to bang on about how their cars are Porsche derived :rolleyes:

As if things wern't bad enough already, how about a 911 tdi (shure ya can chip it for an extra 30brake!!!)


:D

Cionád

The only brigade I see around the motors forum these days is the anti-TDI brigade tbh.

Alfa-bashing has been replaced by TDI-bashing.

Zonda999

Not the worst new either IMO.Past the recession, i think porsche's models are looking up. I even quite like the look of the new cayenne

Robbo wrote: »

I'm just waiting for them to drop the 1.9 TDI paraffin stove into the Boxster. That will warrant at least 4 "Red I's" on the badge and maybe a red exclamation mark.

Have you not heard, the antiquated 1.9 is gone. It is not being put in any more new models, any new models are getting a 1.6 CR or 2.0 CR. I really wish people will get over the hatred of the 1.9, it is now in the past!

Heroditas

Cmar-Ireland wrote: »

[Sarcasim mode on]

Oh sweet Jesus, now the TDi brigade and going to bang on about how their cars are Porsche derived :rolleyes:

As if things wern't bad enough already, how about a 911 tdi (shure ya can chip it for an extra 30brake!!!)


:D

[sarcasm]

Ah and then there's the extra torque

Biro

Cionád wrote: »

The only brigade I see around the motors forum these days is the anti-TDI brigade tbh.

Alfa-bashing has been replaced by TDI-bashing.

At least there's logic to the new bashing!

Cmar-Ireland

milltown

Cmar-Ireland wrote: »

[Sarcasim mode on]

Oh sweet Jesus, now the TDi brigade and going to bang on about how their cars are Porsche derived :rolleyes:

As if things wern't bad enough already, how about a 911 tdi (shure ya can chip it for an extra 30brake!!!)


:D

That's marketing for you. How many extra Mk1 Ibizas do you think SEAT sold because it said "System Porsche" down the side?

Now excuse me while I go order a Panamera 1.8T.

galwaytt

Cmar-Ireland wrote: »

[Sarcasim mode on]

Oh sweet Jesus, now the TDi brigade and going to bang on about how their cars are Porsche derived :rolleyes:

As if things wern't bad enough already, how about a 911 tdi (shure ya can chip it for an extra 30brake!!!)


:D

Heroditas wrote: »

[sarcasm]

Ah and then there's the extra torque

ho-ho, but this has even more ! which'll bring out the zanussi/fridge/applicance jokes.........batteries not included !!


OP - we've been here before.........








which, years later, morphed into this, so it's not all bad. Just give it 15 years !!

smcgiff

Actually - It'd be great if you could buy a Porsche at your local VW dealer.

Gran Hermano

Wait until you're stuck in the back of a taxi listening to the driver drone on about how he bought his Skoda at a Porsche dealer.

Guy:Incognito

steve06 wrote: »

I hate that attitude! You never hear people saying "sure and Enzo is just a tarted up Fiat" but for some reason other manufacturers get it in the neck.

How many Fiats share platforms or engines with the Enzo?

Theres a difference between calling a Lamborghini a VW because they are owned by the same people and say calling a VW a Seat when they share a lot of parts.

Calling a Rover 620 an Accord is perfectly valid seeing as everything bar the shape of the external body panels is the same.

smcgiff wrote: »

Actually - It'd be great if you could buy a Porsche at your local VW dealer.

Yeah, nothing lets you feel your in a higher class when dropping a couple of hundred grand on a car than the guy beside you buying his new VW fox

smcgiff

Stekelly wrote: »

Yeah, nothing lets you feel your in a higher class when dropping a couple of hundred grand on a car than the guy beside you buying his new VW fox

That wouldn't bother me in the least. What would, however, is if I was picking up my bog standard 911 and another person was also picking up their GT3 car at the same time.

CianRyan

Cmar-Ireland wrote: »

I was gonna make that joke as soon as i saw this thread. :mad: