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VW to buy Porsche by 2010
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  1. #1
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    Re: VW to buy Porsche by 2010

    Article:

    Europe's largest carmaker, Volkswagen, has said it is to buy 49.9% of sports car maker Porsche by the end of 2009 for about 3.9bn euros (3.54bn;$5.8bn).

    In August VW and Porsche agreed the details by which VW will merge with its German compatriot by 2011.

    VW had initially been set to buy a 42% stake in Porsche by the end of this year for 3.3bn euros.

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

    Funding failure

    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 due to the impact of both the global credit crunch and the slump in global car sales.

    Porsche's failure to buy VW saw the firm's former chief executive Wendelin Wiedeking and financial director Holger Haerter resign this summer.

    Porsche is set to become the 10th brand in the VW family, joining the likes of Audi, Seat and Skoda.
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    SoCalEuro Member mike's Avatar
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    Re: VW to buy Porsche by 2010

    Its a race to see who can raise the capital to buy who first!
    "As I walk through the valley of death I fear no one, for I am the meanest motherf****r in the valley" - George S. Patton
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    SoCalEuro Member kmfdm's Avatar
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    Re: VW to buy Porsche by 2010

    just join the gang porsche. vw is a good company to be owned by anyway, they tend to keep out and let their manufacturers continue as usual. unlike say ford who cannibalises all those that are under thier wing. plus their is no way porshce could afford vw when most of porsche $ was in investments and with this market no wonder they couldnt raise the funds needed.
    i heart off topic

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    SoCalEuro Member daygoVR6's Avatar
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    Re: VW to buy Porsche by 2010

    might just see VW in F1 once a merger is made...
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  7. #6
    SoCalEuro Member mike's Avatar
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    Re: VW to buy Porsche by 2010

    I heard the Boxster may be getting a four banger turbo powerplant thats based on the GTI. More power, less weight, WIN! The purist wine tasting fcuks will be pissed.
    "As I walk through the valley of death I fear no one, for I am the meanest motherf****r in the valley" - George S. Patton
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    Re: VW to buy Porsche by 2010

    Can't wait - good stuff will come out of this.

    While we are on VW, any of you guys know anything about the hush hush secret replacement for the New Beetles?
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    SoCalEuro Member aquabat911sc's Avatar
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    Re: VW to buy Porsche by 2010

    Quote Originally Posted by rustyoldbug View Post
    While we are on VW, any of you guys know anything about the hush hush secret replacement for the New Beetles?
    When VW initially debuted the UP concept in Frankfurt two years ago, the rumor was that a new rear engine rear drive Beetle would be built on that platform for North America. Since then, they have decided that would be too expensive. From the information I have, the Newer New Beetle will be a smaller car than the current NB, but have a larger interior volume. There is a possibility it will be based on a Polo platform and priced to compete with Yaris, Fit etc.

    The odds are still very good we will see a Polo in North America. VW wants a smaller cheaper sedan in the product line-up. I would rather see a Polo hatch, but I am in the minority.
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    Re: VW to buy Porsche by 2010

    Quote Originally Posted by aquabat911sc View Post
    When VW initially debuted the UP concept in Frankfurt two years ago, the rumor was that a new rear engine rear drive Beetle would be built on that platform for North America. Since then, they have decided that would be too expensive. From the information I have, the Newer New Beetle will be a smaller car than the current NB, but have a larger interior volume. There is a possibility it will be based on a Polo platform and priced to compete with Yaris, Fit etc.

    The odds are still very good we will see a Polo in North America. VW wants a smaller cheaper sedan in the product line-up. I would rather see a Polo hatch, but I am in the minority.

    BS my next car will be an imported current generation Polo from Germany. I'm waiting till the make it with 4motion and the 2.0 litre diesel though
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    SoCalEuro Member 1965truckrod's Avatar
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    Re: VW to buy Porsche by 2010

    I guess it really is a race, I have been reading that Porsche was doing this and VW was going to do that but I guess this is the most recent article that I have read and finally puts some substance to the matter.

    I agree that Porsche should join the family consider they share the Touareg/Cayenne Platform I'd like to see some similar Models on both sides benefit from the other.

    I'd like to see a new new VW Beetle with a rear eng, rear wheel drive but maybe that is too expensive. Looking forward to seeing a Polo in the States.

    Jesse

  12. #11
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    Re: VW to buy Porsche by 2010

    Quote Originally Posted by mike View Post
    I heard the Boxster may be getting a four banger turbo powerplant thats based on the GTI. More power, less weight, WIN! The purist wine tasting fcuks will be pissed.
    That's why I can't wait to tell my boss.
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