This just in; VW takes over Porsche! Ferdinand Piech's VW will control 49% of Porsche. VW will pay to a tune of 11.35 billion dollars for Porsche. The government of Qatar to infuse funds resulting in 20% ownership.
Porsche CEO Wiedeking & CFO Haeter out, Michael Macht named as CEO of Porsche. It is Macht's intention to keep Porsche independent; focusing on low volume higher priced vehicles. Let's see what Piech has to say about that. IT IS A SAD DAY

 

I think it is safe to say that 2007 and 2008 Porsche 997 TT was build in the Glory Days of Porsche Company. Who knows maybe like with wine, our cars just became better..

 

i hope that is the case. i plan on keeping my 09 modded Turbo for a while, maybe forever!

 

Good luck to Wiedeking a great great great man and CEO!! He took Porsche to new heights!

 

Maybe this means I won't need to buy a "bigger better" Porsche in the coming years.. since it will actually be a downgrade.. cough cough Just giving them a hard time.

 

Yeah, he took them to new heights, but in the end he killed the independent car maker...

From Spiegel

"A severance package, never mind one that is so huge, cannot be justified. Wiedeking brought the sports car manufacturer to the brink of disaster. He got it into his head that he could take over the much bigger Volkswagen with a surprise attack. He had come up with an apparently ingenious plan: the takeover would finance itself through complicated and highly risky stock market speculation. Wiedeking, intoxicated by his success as Porsche boss, believed that he could throw VW and the entire financial world off guard. However, the plan was a spectacular failure. Porsche was left with billions of euros in debt, now it has to first of all write these debts off and will then become VW's 10th brand."

"Wiedeking is mainly to blame for this disaster. At the beginning of the '90s he took over Porsche during a severe crisis and turned it into the most successful carmaker in the world. Now he has gambled away its independence, the most valuable capital such a proud company can possess, and has thus destroyed his life's work. It doesn't matter how much he achieved before, Porsche will now be managed from Wolfsburg. That is a terrible blow for Porsche and its employees."

 

maybe its going to be much cheaper now?

 

This doesnt sound like a bad thing at all....

 

sowewill get cheaper quality porsche now??

 

A very interesting case of how someone can seriously overestimate the worth of a reverse takeover of sorts. ****e...

 

that's crazy... VW owning Porsche?? who would've thought...

 

lookout 998TT Wolfsburg Edition!

 

I highly doubt VW will dillute the brand. Just look at Lamborghini.

 

Right now Lamborghini is one of the most value depreciated cars in the world. Friend of my lost over 100 thousand in one year on 07 Gallardo Spayder .Audi r8 isn’t doing better. One of the reasons is that once they became part of VW. there exotic status went down .Sheering of the parts and technology is not always good if you selling exotic exclusivity

 

can anyone say R8 V10; same V10 and running gear as LP. audi did not use twin-clutch; parts sharing to CUT COST INCREASE PROFITS. loaded R8 V10 over 170K!!!!