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    Re: REPORT: Porsche facing dire times

    reginos:
    andrea:
    reginos:
    Wonderbar:

    Not sure what this means, but it could not be good news for Porsche..

     

    Press-Information No. 17/09
    30/06/2009
     
     
    Alternative Financing Possibilities Being Considered

    Porsche not Applying to KfW for a New Loan

    Stuttgart. Porsche Automobil Holding SE, Stuttgart, has been denied a loan for Euro 1.75 billion from the German Kreditanstalt für Wiederaufbau (KfW), following the Company’s application to such effect. In its letter the KfW states that Porsche “may naturally contact us again at any time with a further application for a loan.” In the interest of the Company’s credibility, Porsche will however not resort to this offer.

    Porsche has always stated that the loan was to be an operating loan not in any way burdening the German taxpayer. According to the application, the KfW would have joined the syndicated credit now endorsed by 16 banks, which is subject to the usual market interest rates and is backed by Volkswagen shares as collateral.

    Following this decision Porsche will start talks for alternative financing possibilities.

    KfW gives loans to companies directly hit by the recession. Porsche's problems may have been compounded by the recession but their real cause was the genious moves of Wiedeking and Financial Director Holger Haerter.

    I think Harter is not a donkey now....  until 2008 he was a genius... and he achieved very good results in the past years

    He played a very risky game and lost and put his company in jeopardy.

    He may be an accomplished fianancial man but everything is judged by the end result.

     

    Yes but  I would like to see in deep  the Porsche financial problem...I think we know only a little part of the story..


    --
    Dedi La vita è troppo corta per non guidare italiano.....

    Re: REPORT: Porsche facing dire times

    The timeline of the Porsche-VW saga from 2005 to date. To refresh our memory.

    http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSLT71777920090630?pageNumber=1&virtualBrandChannel=11569


    --
    It's not where you're going, it's how you get there that counts

    Re: REPORT: Porsche facing dire times

    At least it's good to see the Porsche SE are issuing PR's on a regular basis.

    IMO it is important that Porsche SE has a chance to tell its side of this on going saga (even if  sugar coated). Saying nothing leaves itself open to unfounded rumors and often unfavorable press coverage and opinions.

    Having said that, it still shocks (and saddens) me to the core when I see the position that Porsche has gotten itself into. So unnecessary!

     


    Re: REPORT: Porsche facing dire times

    Anybody hear any new news about this mess?  Like the hero says in the old American western flicks-"its' quiet.....too quiet."


    Re: REPORT: Porsche facing dire times

     Looks like we have to wait another 2 weeks for the next "showdown":

    http://www.businessweek.com/autos/autobeat/archives/2009/07/porsche_and_vol.html?chan=globalbiz_europe+index+page_autos

     


    Re: REPORT: Porsche facing dire times

    Well...I face dire times too but nobody seems to be interested.

    To get back to Porsche: apparently two new potential investors are in the boat right now, one comes from China and the other one from Russia. There seems to be a lot of secrecy about this, not quite sure why but maybe it has to do with Piech and VW.

    Oman was also rumored to get a big piece of the Porsche cake but apparently things aren't going as smoothly as planned, especially after the Oman investor got a hand on internal Porsche papers and their financial implications.

    Right now, everything seems to be speculation and there is nothing we can do about it. One thing is for sure: when the whole "situation" changes and results are at hand, a couple of things will change, heads will roll (maybe not now but soon) but I just hope that the customer will benefit from it in a way or another.

    When I look at VW, I'm not sure if VW "buying" Porsche would actually be a bad thing. Look at Lamborghini, Bugatti or Bentley, I don't think that VW did a bad job with these brands overall and even Audi seems to have touched new grounds over the past decade.

    When I look at Porsche right now, I can see many decisions which, from a customer point of view, have been wrong.

    Examples:

    1. 997 Turbo: great product, no doubt about it but why not 550 HP, a better chassis setup and LED backlights from the start?

    2. Cayman: great product but why so much more expensive than the Boxster and why not a stripped down low cost version for track addicts?

    3. Cayenne: first gen look was outdated when it showed up, second gen Cayenne should have actually been the first gen Cayenne from many points of view

    4. Panamera: horrible back, ugly is even a kind word for it. Too heavy too, prices too high for a new model

    I know that many don't agree with me but I bought more than 7 Porsche over the past 12 years, so maybe Porsche should listen to people like me because right now, my Porsche "addiction" kind of lost its attraction (still having high hopes for the new Cayenne generation).


    --

    RC (Germany) - Rennteam Editor 997 Turbo, Cayenne Turbo S, BMW M3 Cab DKG, Mini Cooper S JCW


    Re: REPORT: Porsche facing dire times

    RC,

    Do you mean Qatar or Oman was another investor ?


    --
    Happy Driving

    Re: REPORT: Porsche facing dire times

    I guess RC made a typo, he meant Qatar. Porsche SE is in EXCLUSIVE talks with the QIA (Qatar Investment Authority).


    Re: REPORT: Porsche facing dire times

    EricAlain:

    I guess RC made a typo, he meant Qatar. Porsche SE is in EXCLUSIVE talks with the QIA (Qatar Investment Authority).

     

    I'm sorry, I meant Qatar of course. I wrote a PM to a user named Omar shortly before making the other post and it seems I'm getting old. SmileySmileySmiley

    Today, the Porsche family and some VW CEOs seem to meet in Salzburg, Austria for further talks. Apparently Qatar wants to invest only in a joined Porsche/VW company at peace. Not sure if this is going to happen (the "peace" thingie Smiley). 


    --

    RC (Germany) - Rennteam Editor 997 Turbo, Cayenne Turbo S, BMW M3 Cab DKG, Mini Cooper S JCW


    Re: REPORT: Porsche facing dire times

    It's not getting old it's getting tired ... time to take a well deserved summer break ...

    Cheers

    E


    Re: REPORT: Porsche facing dire times

    EricAlain:

    It's not getting old it's getting tired ... time to take a well deserved summer break ...

    Cheers

    E

     

    No money (and no time) for a summer break... Smiley

    Still hoping for some nice test cars from Porsche before the factory vacation but my hopes are not high.


    --

    RC (Germany) - Rennteam Editor 997 Turbo, Cayenne Turbo S, BMW M3 Cab DKG, Mini Cooper S JCW


    Re: REPORT: Porsche facing dire times

    Bums me out that Porsche as a profitable car manufacturer with ridiculous operating margins needs to go hat in hand to the least offensive buyer.

    If WW keeps his head (metaphorically speaking, of course) I'll be surprised.

     


    Re: REPORT: Porsche facing dire times

    kfractal:

     

    Bums me out that Porsche as a profitable car manufacturer with ridiculous operating margins needs to go hat in hand to the least offensive buyer.

    If WW keeps his head (metaphorically speaking, of course) I'll be surprised.

     

     


    If Reuters is correct, you won't be:

    http://in.reuters.com/article/businessNews/idINIndia-41060820090715

    Is Harter next?


    --

    1997 993 TT Proto 3.8L 700HP

    2005 996 TSCab EVO GT700

    2006 Noble M400 "M600" 573RWHP

    2007 Audi RS4 MTM exhaust/clutch/LWFW


    Re: REPORT: Porsche facing dire times

    Accord to our sources, Dr. Wiedeking is going to "keep his head", at least for now. 

    Time will tell...


    --

    RC (Germany) - Rennteam Editor 997 Turbo, Cayenne Turbo S, BMW M3 Cab DKG, Mini Cooper S JCW


    Re: REPORT: Porsche facing dire times

    RC:

    Accord to our sources, Dr. Wiedeking is going to "keep his head", at least for now. 

    Time will tell...

     

    good news..isn't it?


    --
    997 TT, what a car/che'mmmmmaghena!!!

    Re: REPORT: Porsche facing dire times

    RC:

    Accord to our sources, Dr. Wiedeking is going to "keep his head", at least for now. 

    Time will tell...

    WW will be kept for the sake of normality and a smooth transition to the next stage. He also seems to be popular with the Porsche workers and he can convince them that whatever is decided is the correct thing. A while after the settlement he will be replaced, in my assessment.


    --
    It's not where you're going, it's how you get there that counts

    Re: REPORT: Porsche facing dire times

    I'm afraid Porsche as an independent enterprise will be history soon Smiley Of course we have to wait until 23 July for the official announcement, but W.W made a Freudian slip in an interview yesterday : "I'm very happy with my position as the chairman of the supervisory board....errr CEO...." Smiley


    --
    public roads: Porsche 987 S Seal/Cocoa, toll road Smiley : Porsche 997 GT3 Arctic/Black

    Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    17 July 2009 -- Porsche SE, the sports-car maker that may merge with Volkswagen AG, is likely to reach an agreement on a stake sale in a few days, Chief Executive Officer Wendelin Wiedeking said in an interview.

    “I think all the details, later on within the next days” will be resolved, Wiedeking told Bloomberg Television last night when asked whether Porsche will be sold to Volkswagen. “It’s already on the table,” he said in Ingolstadt, Germany, where he’s attending the 100th anniversary celebration for Volkswagen’s Audi division.

    Porsche is also considering an offer by the Qatar Investment Authority to buy a stake in Porsche’s holding company and options on Volkswagen stock. Stuttgart-based Porsche is considering ways to reduce more than 9 billion euros ($12.7 billion) in debt after amassing a 51 percent stake in VW as well as the options for 20 percent of the Wolfsburg-based carmaker, Europe’s largest.

    Porsche’s power struggle with Volkswagen appears to be “over,” Lower Saxony state Prime Minister Christian Wulff told reporters as he arrived at the Audi event. Wulff said he’s “very confident of good results” from meetings that Porsche’s and Volkswagen’s supervisory boards plan on July 23.

    The sports-car maker’s top labor leader said that Volkswagen must double its offer for a 49 percent stake in Porsche’s automotive unit.

    The “exact correct price” is 7 billion euros to 8 billion euros, Uwe Hueck, head of Porsche’s works council, said in an interview with Germany’s ZDF television July 15. “The 4 billion euros will not even suffice. We also need liquidity.”

    ‘Against Raiding Coffers’

    Hueck, who is Porsche’s deputy chairman, said he’s “against raiding Volkswagen’s coffers” for the sake of erasing debt. He said the Porsche and Piech families, who control all voting rights on Porsche shares, should take part in a 5 billion-euro capital increase and pave the way for Qatar to buy a stake and the VW options.

    Wiedeking will remain at the helm “for as long as his contract permits, and that’s until 2012,” Hueck said. German weekly magazine WirtschaftsWoche has reported that the CEO will step down.

    Wiedeking transformed the manufacturer of the 911 and the Cayenne, almost bankrupt when he became CEO in 1993, into the automaker with the industry’s highest profit margins. In 2005, he began using cash from the luxury-vehicle business to acquire shares of Volkswagen, a company that builds more cars in a week than Porsche does in a year.

    'Share Sale'

    Qatar and the family owners have been asked to participate in a planned 5 billion-euro share sale at Porsche, people familiar with the talks said this week. Qatar may pay 2 billion euros for a stake, one of the people said.

    At the same time, Porsche may hand over the options that can be converted into a 20 percent stake in VW to Qatar for free, the people have said. Qatar would then pay about 5 billion euros to banks that sold Porsche the derivatives, they said.

    An investment by the Persian Gulf state may give Wiedeking, 56, leverage to negotiate a deal to merge with VW. The families agreed in May with VW to pursue a merger to create a 10-brand behemoth that would include the Audi luxury division of VW as well as its Seat and Skoda mass-market units.

    Wulff, the regional government leader, said July 14 that Lower Saxony would welcome Qatar as a “third strong shareholder” in VW. Lower Saxony is Volkswagen’s home state and the carmaker’s second-biggest shareholder, with a 20 percent stake and the power to veto decisions.

    Source: Bloomberg


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    Does not look good for Porsche and Wiedelking. It was a good ride while it lasted (owner of 15 911s). Now, I will move to another manufacturer. Good-bye to the company that I have been loyal to for almost 20 years.....

    Der Speigel: "POWER STRUGGLE ENDS...Volkswagen to Acquire Porsche...Wiedeking to Step Down as Owners Settle on Michael Macht, Current Director of Production for Porsche, as New CEO...VW May Acquire Porsche Family's Network of Austrian Dealerships Also..."

    Interesting, a woman may be the ultimate decision-maker:

    The "Truth About Cars": http://www.thetruthaboutcars.com/wiedeking-witchhunt-worsens-woman-waits/#more-323333:

    Wiedeking Witchhunt Worsens, Woman Waits

    By Bertel Schmitt
    July 18, 2009
     

     

    After every paper in Germany, and soon thereafter most on the globe had reported the ouster of Wendelin Wiedeking as Porsche CEO, his chairman Wolfgang Porsche belatedly came to his rescue: Friday evening, Wolfgang Porsche, chairman of the Porsche supervisory board, said that this is all wrong. In Germany’s fat weekend-editions, the denial is mentioned only in passing. Nobody seems to buy it.

    What makes headlines is that Volkswagen might be first to fire Wiedeking. As representative of the 51 percent Porsche owns in VW, Wiedeking sits on VW’s supervisory board. It will meet on July 23, coincidentally when the Porsche supervisory board meets, and likewise coincidentally, both boards meet in Stuttgart. That makes it easier for two people: Ferdinand Piech is the chairman of the Volkswagen board, he also sits on the Porsche board. Wiedeking needs to report to his Porsche board, but he also needs to attend the Volkswagen board meeting.

    It may be his last meeting.

     

    According to the German magazine Focus, the Volkswagen board wants to kick out Wiedeking. The votes are there, says Focus: Piech, Lower Saxony’s premier Wulff, and the worker side, represented by Bernd Osterloh, Bernd Wehlauer, and Jürgen Peters will jointly say “Nein” when asked whether Wiedeking should continue to serve.

    An unnamed Volkswagen board member told Focus:”Wiedeking can make up his mind whether he resigns on his own volition, or whether we need to remove him in a not so kind manner.”

    Answer from Zuffenhausen? The Porsche workers come to the aid of their (current) boss Wiedeking. The workers threaten to seize the Porsche factories in Zuffenhausen and Weissach and shut them down. That threat is dealt with a German “na und?”(so what?)

    What’s creating banner headlines, from the Borkener Zeitung to the Wiesbadener Kurier, is the fact that Volkswagen now wants to swallow Porsche whole.

    Der Spiegel has it on good authority (probably the same that leaked the Wiedeking ouster) that VW plans a Porsche two-step. Step one: Volkswagen takes over 49.9 percent of Porsche. Step two: VW buys the rest. Possibly, VW even buys Porsche’s crown jewels in Austria. Amongst the most precious gems: One of the, if not the largest car dealer groups in Europe.

    In return, the Porsche/Piech families would own more than 50 percent of what looks like the world’s second largest automaker. Lower Saxony keeps its 20 percent. The Sheik of Qatar will hold anywhere between 15 and 20 percent.  Reuters already has an idea of how much this would cost: €8b, or $11.28b for the whole shebang. That should cover a good chunk of Porsche’s debt, but not all:two sources told Reuters that the debt “has ballooned to considerably more than 10 billion euros.” Playing hedgefunds is risky business. Win some, lose some.

    While the two alpha males Piech and Wiedeking pound chests and tables, the final decision could come from a woman. Her name is Mouza Bint Nasser al-Missned.

    The Sheik of Qatar didn’t exhaust his full quota, he has only three wives. Mouza Bint Nasser al-Missned is his second. She is his closest advisor. If she can convince a Sheik to give suffrage to women (she did) she can easily tell her husband whether it’s Piech or Wiedeking. If the strikingly beautiful 50 year old points at Piech, the Sheik will drop €7B on Volkswagen, Volkswagen swallows Porsche, Wiedeking is history. If she points at Wiedeking, the €7B will go to Porsche, Wiedeking can finish his takeover, and Piech can write his memoirs.

    Piech and the Sheik should get along well. The Sheik has three wives and seven children. Piech has at least 12 children out of at least four “relationships.” But maybe the Sheik doesn’t want to be upstaged? Who knows. Stay tuned for the next episode

     


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    According to tagesschau (one of the most credible news in germany), the deal is done and only needs to be officially confirmed on 23rd july.

    Qatar will buy into VW and Porsche will be integrated in VW, Resulting in the following ownership of VW:

    20% state of lower-saxony
    19.9% Qatar
    10.1% publicly traded
    50.0% Families Porsche/Piech

    Video in german:  http://www.tagesthemen.de/wirtschaft/porschevw114.html


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    Personally, I don't see any problem at all for Porsche cars.

    On the contrary Porsche cars in the integrated giant won't need to produce certain unPorsche-like models in order to survive as a small company and to stay "independent", like the lower Cayennes (3.6 and diesel),  basic 987s and soon the basic Panameras and Hybrids

    Moreover, no need to worry about Porsche CO2 and miles-per-gallon averages anymore within the integrated Group. Consequently, free from such restrictions, Porsche will return to the pinnacle of performance motoring with no car below a given PS/Kg ratio. I don't have any problem with the type of cars Porsche produces now (SUV and limousine included) as long as they have top performance.

    As far as WW is concerned he should be dismissed for his strategy's complete failure. We liked what he did in the 90s but ultimately he lost the war so he should face the "firing squad" like any unsuccessful General. That he will be getting some 100million Euros to go, after the great disaster he has caused, is the ultimate act of humanity or perhaps ultimate madness Smiley


    --
    It's not where you're going, it's how you get there that counts


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    reginos:

    On the contrary Porsche cars in the integrated giant won't need to produce certain unPorsche-like models in order to survive as a small company and to stay "independent", like the lower Cayennes (3.6 and diesel),  basic 987s and soon the basic Panameras and Hybrids

     

    I don't like the uncertainty of how this will affect Porsche sportcars in the next years but this is what I'm hoping and what makes sense that will happen, only that its too good to be true (Porsche getting back to being a "sportcar" manufacturer) so I find it hard to believe.

    As far as WW is concerned he should be dismissed for his strategy's complete failure. We liked what he did in the 90s but ultimately he lost the war so he should face the "firing squad" like any unsuccessful General. That he will be getting some 100million Euros to go, after the great disaster he has caused, is the ultimate act of humanity or perhaps ultimate madness Smiley

     

    x100

     


    --


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

     Personally, I will cheer for every penny WW gets out of this power struggle and just hope that VW/Piech will have to foot the bill for his contract in the end if they want to see him go. The compensation should not come as an act of humanity but deep gratitude and the one who should face the firing squad is Wulff IMHO.
    The whole VW-Porsche deal has been a sad case for the state of the German economy where political interest always trump. We are heading straight to a banana republic.

    Piech reportedly once said about WW that the only flaw he sees in him is that he never made a mistake. Apparently he couldn't live with that.

     

     


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    That sounds very credible and minimally invasive from a corporate fiance perspective.  Probably means Porsches get sold at Audi dealers, which would not be a real big change here in in the USA, can't speak for other regions.

     

      Agree with various posts that there is a decent chance this all comes out favorably as Porsche can focus on very fast cars and less on other diversions.  VW, at the end of the day, does produce very beautifully styled, superfast, and totally impractical Lamborghinis and Bentleys, while Audi has moved solidly upmarket in image and performance.  So Porshce can fit in well.  It is just always sad when independence is surrendered to a giant corporation, you never know how things will turn out, especially with extensive platform sharing.  I am hoping that the ugly duckling 4 door Panamera turns into a 2 door swan-like 928 replacement, that would be cool, and that the new Porsche subdivision ends this business of retarding the performance potential of the Boxster to preserve pricing for 911s. 


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    Nevermind the Boxster, that was one of the savior cars for Porsche with the Cayenne. Smiley  It and the Cayman will always stay below the 911.  Rather, I can foresee Porsche focusing on improving the 911 without having to offer emaciated entry-level versions.


    --
     

    1997 993 TT Proto 3.8L 700HP

    2005 996 TSCab EVO GT700

    2006 Noble M400 "M600" 573RWHP

    2007 Audi RS4 MTM exhaust/clutch/LWFW


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    Carlos from Spain:
    reginos:

    On the contrary Porsche cars in the integrated giant won't need to produce certain unPorsche-like models in order to survive as a small company and to stay "independent", like the lower Cayennes (3.6 and diesel),  basic 987s and soon the basic Panameras and Hybrids

     

    I don't like the uncertainty of how this will affect Porsche sportcars in the next years but this is what I'm hoping and what makes sense that will happen, only that its too good to be true (Porsche getting back to being a "sportcar" manufacturer) so I find it hard to believe.

    As far as WW is concerned he should be dismissed for his strategy's complete failure. We liked what he did in the 90s but ultimately he lost the war so he should face the "firing squad" like any unsuccessful General. That he will be getting some 100million Euros to go, after the great disaster he has caused, is the ultimate act of humanity or perhaps ultimate madness Smiley

     

    x100

     

     

    Going back to be a true sportcars manufacturer like Lamborghini or Ferrari is it not rather discontinuing the Cayenne and Panamera instead of getting rid of their basic variants only?

    What is sad is that Porsche had to extend their range beyond the genuine sportcars models to guarantee their independance even though it means diluting their image and soul.  In the end they still get bought.  They lost on both fronts.  Smiley 


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    Ziggy:

     

    Going back to be a true sportcars manufacturer like Lamborghini or Ferrari is it not rather discontinuing the Cayenne and Panamera instead of getting rid of their basic variants only?

    What is sad is that Porsche had to extend their range beyond the genuine sportcars models to guarantee their independance even though it means diluting their image and soul.  In the end they still get bought.  They lost on both fronts.  Smiley 

     

    I don't agree with you completely. A 500HP+ Cayenne or Panamera with perfect road behaviour and driving pleasure is in the spirit of Porsche. IMO a sports car is not defined by how it looks or how many seats it has or how cramped it is inside.

    Also, Porsche have never been Ferrari type cars i.e. ultra expensive, exotic and little usage cars.


    --
    It's not where you're going, it's how you get there that counts


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    Ziggy:
    Going back to be a true sportcars manufacturer like Lamborghini or Ferrari is it not rather discontinuing the Cayenne and Panamera instead of getting rid of their basic variants only?

    What is sad is that Porsche had to extend their range beyond the genuine sportcars models to guarantee their independance even though it means diluting their image and soul.  In the end they still get bought.  They lost on both fronts.  Smiley 

     

    The Cayenne and the Panamera are and were the right decisions, I have no doubt about it.

    The Cayman is a disaster in my opinion, even if it seems to sell in some markets.

    The Boxster has always been a great Roadster but underpowered most of the time, only now it has the right engines and performance.

    The Cayenne V6 is a joke.

    The Cayenne Diesel should have had at least 300 HP from the start, VW had a very nice V10 Diesel engine from the beginning for the Touareg, it would have been the right Diesel engine for an early Cayenne. Nobody would have laughed at Porsche for putting a Diesel engine in a truck.

    The 911 evolution was not thorough enough, more power and more "soul" was needed.

    The Cayenne S and especially the Turbo were too expensive.

    The Panamera is too expensive.

    I could provide more examples.

    Exclusivity can't be achieved without a "big brother", this is why I always preferred a less exclusive model line to keep Porsche independent.

    I would never compare Porsche with Ferrari or Lamborghini. Ferrari and Lamborghini make nice cars, no doubt about it but Porsche makes nice daily drivers. Cars which are supposed to be driven each and every day, cars which aren't eye-catchers like a Ferrari or Lamborghini but nethertheless are fun to drive.

    Overall, I think that a lot of mistakes have been made but apparently nobody at Porsche saw them, simply because Porsche never really made money with cars, as weird as this may sound.

    Customers like us were always a good "mirror" for what Porsche did well or not. Unfortunately Porsche ignored many customer opinions.

    What Porsche needs is not the mass market, what Porsche needs is LOYAL customers, who come again and again and who love Porsche cars. This is the only way a small manufacturer can survive alone.

    I'm a loyal customer...well...actually I was. My Porsche dealer closed down, I liked it being there because it was small and like a family. The new one is friendly but somehow sterile, I can't get used to it. I also liked the direct contact I had from time to time to the factory, it is getting more and more difficult, sometimes it is even impossible. Porsche has changed from a small fine manufacturer to a second BMW. This is not the Porsche I wanted to see.

    Personally, I don't think that Porsche is going to survive alone, even if VW doesn't take them over. I'm a longtime Porsche owner and driver and I started looking at BMW, Audi and other brands. Why is that?

    Porsche needs to think small again, this is the only way they can survive alone. If they want to think big, they need Volkswagen to do that.


    --

    RC (Germany) - Rennteam Editor 997 Turbo, Cayenne Turbo S, BMW M3 Cab DKG, Mini Cooper S JCW


    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    RC:

    The Cayman is a disaster in my opinion, even if it seems to sell in some markets.

     But at least it sold enough units to recover the small amount of R&D it took to put a roof on the Boxster and charge more money.  And I think they are very entertaining cars to drive, despite their sales performance.


    --
    73 Carrera RS 2.7 Carbon Fiber replica (1,890 lbs) Former: 73 911S, Two 951S's, 996 C2, 993 C2

    Re: Porsche CEO Says Sale Imminent as VW Power Struggle Nears End...

    The Cayman is a marvel of marketing and a great success. Tweak the engine and suspension, remove the convertible roof and charge MORE money? Genius.


     
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