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Porsche Ag

BUSINESS
April 6, 1989 | JAMES RISEN, Times Staff Writer
Porsche, in a dramatic effort to halt an ongoing free-fall plunge in the American sales of its expensive sports cars, said Wednesday that it plans to cut the prices on some of its models by more than $3,000. The move to slash prices on its 944 series--the least expensive segment of its lineup--comes in the midst of a disastrous slump at the West German sports car maker. The rapid appreciation of the German mark against the U.S.
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BUSINESS
July 28, 2005 | From Associated Press
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.
BUSINESS
March 26, 2007 | From the Associated Press
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.
BUSINESS
September 26, 2005 | From Associated Press
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.
AUTOS
March 8, 2006 | Ralph Vartabedian, Times Staff Writer
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.
BUSINESS
November 24, 2008 | Ken Bensinger, Bensinger is a Times staff writer.
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.
AUTOS
July 21, 2004 | DAN NEIL
The cop, a full-metal-jacketed member of the Ontario Provincial Police, walked up to the car, pushed his cap back and said, "New toy?" Well, yes and no, Officer Neckfat. The Carrera GT, Porsche's half-million-dollar sports car, a 605-horsepower linear-mass accelerator capable of more than 200 mph, is certainly new.
AUTOS
December 26, 2001 | TERRIL YUE JONES, TIMES STAFF WRITER
Forget for a moment that Porsche has made some of world's most sought-after cars, from the roaring 911 Turbo to the exotic all-wheel-drive 959 that was never sold in America. It also is a company with stockholders, a share price and a profit margin--the best in the business, in fact. The German auto maker is an unconventional company, run by an unconventional executive.
BUSINESS
March 23, 1999 | JOHN O'DELL, Southern California Auto Reporter
Porsche has joined the California crowd. The German performance car maker has opened its first U.S. automotive design studio in Huntington Beach--part of its Porsche Engineering Services unit. But the new studio won't be responsible for designing Porsches, at least not yet. Its mission is to pick up design work for outside clients--work that previously had to go through the company's already overloaded studio in Germany.
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