July 28, 2005 |
German luxury sports automaker Porsche said it would begin producing a four-door, four-seat sports car that it expected to be on the market by 2009. Dubbed the Panamera, the model is expected to reach a production level of about 20,000 vehicles annually. A retail price for the car wasn't released, but analysts have said it could range from $125,000 to $175,000. Stuttgart-based Porsche said it would spend about 1 billion euros ($1.
March 26, 2007 |
Prestige automaker Porsche will increase its stake in Volkswagen, maker of the Beetle, Golf and Jetta, in a widely expected move aimed at keeping the company firmly in German hands. A spokesman for Porsche said the company did not plan to acquire Volkswagen, Europe's biggest carmaker, which is partly owned by the state of Lower Saxony and is looked to as both an industrial powerhouse and a major provider of jobs.
September 26, 2005 |
Luxury sports-car maker Porsche said Sunday that it planned to acquire a stake of about 20% in Volkswagen, a move aimed at strengthening ties between the automakers and preventing a future hostile takeover of Volkswagen. Porsche said Volkswagen had become "a significant supplier for about 30% of our sales volume," as well as "an important partner in development." The two companies worked together to develop Porsche's Cayenne sport utility vehicle and Volkswagen's Touareg.
March 8, 2006 |
Warning: This car may ignore commands by the driver. Any protest is futile. Such a caution is not posted in front of the driver's seat in any cars I have seen, but it seems increasingly appropriate. Engineers have been designing features that allow electronic systems to take automatic action for more than a decade. The first wave of such systems included anti-lock brakes and more sophisticated recent systems include electronic stability control.
November 24, 2008 |
Largely overlooked in the Detroit Big Three death watch/three-ring circus has been one of the most incredible examples of clever stock trading in modern history. And it happened at a car company. Last month, Porsche surprised the world by announcing it had acquired a nearly 43% stake in Volkswagen with an option to buy 32% more. Without anybody noticing, wee little Porsche, maker of scarcely 100,000 cars a year, had cornered a 75% position in VW, which cranks out nearly 6 million vehicles.
September 12, 1987 |
The debut of the new Porsche Indy car has been postponed for two weeks. A spokesman for Porsche AG in Germany announced Friday that the car, a newly built chassis powered by a new Porsche engine, will make its first race appearance Oct. 11 in the 300-kilometer event at Laguna Seca Raceway in Monterey. The car, with four-time Indianapolis 500 winner Al Unser driving, was scheduled to run its first race at Pennsylvania International Raceway in Nazareth, Pa., Sept. 20.
September 7, 1990 |
Leaner and meaner, West German sports car maker Porsche is roaring back toward the top-speed sales it enjoyed before the 1987 stock market crash. Porsche AG said today that its earnings improved in the 1989-90 financial year, aided by cost-cutting measures and higher sales of its most expensive models. The company will not issue earnings figures until later this year, but a West German auto magazine estimated that Porsche's profits last year rose to $51.3 million.
September 24, 1985 |
Nearly 10% of the Americans who buy new Porsche sports cars get them from so-called gray market importers, and the company said Monday that it would fight back with aggressive marketing techniques. John Cook, president of Porsche's U.S. sales subsidiary, also said the company eventually will make all of its European models available to U.S. buyers, will offer extended warranties and will hold down prices for the second consecutive year.
September 19, 1990 |
Porsche AG, never able to match in Indy-car racing the success it achieved in other forms of motor sports, will leave the series at the end of the season. In a statement issued at its North American headquarters in Reno, the firm said its five-year involvement with Indy cars would end with the Laguna Seca event at Monterey on Oct. 21. Porsche has won one race since beginning Indy-car competition late in the 1986 season.