Upping V-dub’s sex appeal
Posted on July 31, 2009 at 1:42 pm
Building a plant in Chattanooga will be huge in helping Volkswagen take on the U.S. market, but its pending tie-up with Porsche will add the sizzle.
“VW’s image in the U.S. could benefit significantly from Porsche,” says Jürgen Meyer, a fund manager with SEB Asset Management in Frankfurt. “Americans don’t know Audi, but they know Porsche as a premium brand and that will rub off on VW. They could possibly use the Porsche brand name to create a group of premium models like we see today with Audi, but with better brand recognition.”
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A VW-Porsche plan
Posted on July 20, 2009 at 8:00 amWord is the auto makers have struck a two-stage deal that will result in Volkswagen taking over Porsche and growing its stable of brands to 10.
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Still in dark with Porsche
Posted on July 16, 2009 at 10:13 amThe families that own Porsche SE have not yet agreed on a strategy to cut the automotive group’s debt and join forces with Volkswagen, Porsche’s deputy chairman said on Thursday, Reuters reported.
Dismissing media reports that the Porsche and Piech clans had finally settled a power struggle over Porsche’s fate, Uwe Hueck said he had been promised by both families that they would make no decision before consulting Porsche’s supervisory board.
Hueck said that he and Porsche chief executive Wendelin Wiedeking preferred to strengthen the group’s balance sheet by issuing new shares and selling a stake to a Qatari investment fund.
“Hans Michel Piech and Wolfgang Porsche have given me their word that the families will not decide anything without discussing it with the supervisory board,” said Hueck, who is Porsche’s top labor leader.
What those three decide behind closed doors will finally determine the shape of any deal. The families are contractually obliged to vote together on strategic issues.
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