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    SPC

    Latest news that will likely affect Porsche's future is the firing of Berndt Pischetsrieder from VW. Clearly this is the handiwork of Ferdinand Piech who heads the supervisory board at VAG and is the grandson of Ferdinand Porsche. Porsche are looking to add more to their shareholding of VAG to take it to 29%, the maximum before they have to declare a takeover bid.

    Don't be surprised if Porsche "buys" Audi from VAG and that Bentley, Bugatti, and Lamborghini go on the block to be sold to a 3rd party. That would clean up the brands VAG/Porsche have and allow greater efficiency.

    The next 5 years for Porsche will be very interesting!

    Anyone want to add likely scenarios to Porsche and VAG's future?

    Re: SPC

    I don't believe that Porsche will ever auction off VAG's luxury brands. Mr Piech decided to fire Mr Pischetsrieder because the latter had dared undo the former's strategy of moving VW upmarket.

    And who had purchased Bentley, Bugatti and Lamborghini earlier? Mr Piech, of course. He's not going to undo his own work, ever. It's simply not going to happen.

    However, I do believe that Porsche will try to purchase VAG as a whole once the German law that currently protects VAG from hostile takeovers is abolished.

    Right now, Audi is a positioning problem waiting to happen. The current relationship is uneasy. Audi and Porsche are kind of sister companies, but not quite. They are often sold in the same dealerships, but it's clear the R8 is designed to steal customers from Porsche.

    However, once Audi, Bentley, Lamborghini and Porsche are full-fledged sister companies, then the new Porsche group will be able to position each company so as to capture the entirety of the luxury market without much overlapping. At the end of the day, it does not matter who makes the sale, as long as it's a PAG brand.

    Re: SPC

    Porsche and Audi...

    Re: SPC

    Interesting read, thanks for posting it.
    IMHO if Porsche purchases the rest of VAG, the R8 successor will be a front-engined car (think SL competitor).
    With a front-engined 2-seat Audi, a rear-engined Porsche, a mid-engined Lamborghini, and a 4-seat Bentley CGT, PAG would nicely corner the market.

    Thanks Alex!

    That's an interesting read for sure. Whether Piech discards Bentley, Bugatti, Lamborghini or not, you just know thet will not be allowed to attack Porsche. At the same time there will be some niches that Porsche will not be able to command and have enough credibility in to make real money, so let the "sisters" capitalize on those niches. I see a huge and very expensive (I mean value critical) market mapping and positioning study in the offing...Happy to bid if the head of market research at either Porsche or VAG is reading!

    Re: Thanks Alex!

    From the Guardian newspaper yesterday:

    VW troubles allow Porsche to flex its muscles

    Porsche, the luxury sports car-maker, could raise its stake in Volkswagen close to 30% to cement its control over Europe's biggest auto-manufacturer after the enforced resignation of Bernd Pischetsrieder as chief executive, sources indicated today. Mr Pischetsrieder quit late on Tuesday after a six-strong management committee, headed by VW chairman, Ferdinand Piech, unanimously delivered a vote of no confidence - just six months after his contract was extended for five years to 2012.

    VW refused to explain the shock departure but it followed a protracted power struggle between himself and Mr Piech, a scion of the Porsche family who had the full backing of the powerful IG Metall union members on the VW board.
    They clashed over the scale of restructuring required to restore the group's profits - VW is cutting 20,000 jobs in Germany.

    Analysts also pointed to sharp fissures within the board over Mr Pischetsrieder's role in pursuing a three-way tie-up between Swedish and German truck-makers Scania and MAN with some of VW's heavy goods vehicles business.

    Mr Pischetsrieder, Scania's chairman, engineered VW's purchase of a 20% stake in MAN but the merger talks have run into the sand.

    He is to be succeeded on January 1 as VW chief executive by Martin Winterkorn, head of the group's highly profitable premium cars division Audi and a close confidant of the Porsche family.

    Mr Piech wanted to install Mr Winterkorn as chief executive earlier this year but was outgunned by angry shareholders at a stormy annual meeting in April, when he and Mr Pischetsrieder sat a few feet apart for several hours without exchanging a single word.

    Porsche, which took a 21.2% stake in VW a year ago to protect it from foreign takeovers and ensure its own independent future, has an option to extend this to 25.1%. Sources confirmed it could increase this to 29.9%, just short of the 30% trigger for mounting a full takeover in German law.

    Analysts said the decision to get rid of Mr Pischetsrieder cast doubt over VW's restructuring plans, designed to deliver 5.1bn EUR (Pounds3.42bn) pre-tax profits by 2008, and the posts of Wolfgang Bernhard, the executive in charge of turning around the Volkswagen brand, and Hans Dieter Poetsch, chief financial officer.

    Both are close to Mr Pischetsrieder and seen as vulnerable by Citigroup.

    IG Metall signed up in September to a new deal raising VW's working week in its six German plants from 28.8 to 34.2 hours for no extra pay, but is known to have scuppered Mr Bernhard's earlier plans to sell off or close component plants - and to have been behind recent moves to cut thousands of jobs at overseas plants and hand over some of their output capacity to German factories.

    Investors are worried that the union has regained a powerful hold over decision-making at VW, pointing to the fact that three of the six-strong committee which ousted Mr Pischetsrieder are union representatives.

    But some analysts argue that Mr Pischetsrieder, also sacked from BMW over the Rover debacle six years ago, was removed because of lack of ruthlessness in executing VW's recovery programme.

     
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