VW CEO threatens to resign if Porsche interferes
It looks like Porsche's aggressive advances at Volkswagen are less than welcome by Volkswagen's management. Its CEO, Martin Winterkorn, has warned Porsche to keep its mitts out of operations, saying that he will resign his position if there's interference. Winterkorn isn't alone in his agitation, as Der Spigel reports Audi managers are concerned that Porsche will go a-meddling in Ingolstadt once its stake increases above 50 percent. Though VW, Audi, and Porsche are all cousins of a sort, Audi's product line comes uncomfortably close to Porsches in some cases, which doesn't portend well for the continuation of the status quo. Stay tuned as "Alle Meine Kinder," brought to you by Dr. Ferdinand Porsche, continues. [Source: Forbes, Photo by MICHAEL KAPPELER/AFP/Getty]
Reader Comments (Page 1 of 2)
Pluton 11:11AM (6/02/2008)
Porsche has reliabilty record as good as solid gold. And VW/Audi just fall apart in 3 days. Instead of VW trying to act like a little girl, they should just let Porsche exec streamline their processes and one day I will consider buying VW.
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Frank 12:33PM (6/02/2008)
most of you guys have it all wrong, lower saxony and the german economy has a vested interest in VW, what VW management is worried about is Porsche coming in taking over, rearranging products so there's no overlap and cutting jobs (which is why Germany has passed another VW law) Lower saxony as well as the Gvnmnt want to keep jobs even if it means spitting out more cars that do, indeed, overlap w/ Porsche.
What it comes down to is the folks at VW are pissed that Porsche keeps saying no to them wanting to build attainable "Halo" cars for the masses.
Rick 7:20PM (6/02/2008)
What are you talking about?
Mike 11:11AM (6/02/2008)
Isn't Porsche the most profitable major automaker in the world? I'd welcome some meddling if I were VAG...especially since Porsche quality and customer satisfaction rankings are generally well above any of the VAG brands.
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Alex 11:14AM (6/02/2008)
Would Porsche really care if Winterkorn quit?
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LeRobert 11:17AM (6/02/2008)
Good point.
Jared 11:20AM (6/02/2008)
What matters is not whether "Porsche" cares, but whether Ferdinand Piech cares. I think Piech will likely see this as a insubordination. I expect Winterkorn will be looking for a new job shortly.
Mobius_1 11:21PM (6/02/2008)
And wouldn't Piech fire him anyways?
Quattroporte 11:21AM (6/02/2008)
What about Winkelmann and Lambo?
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icu812ru469 11:28AM (6/02/2008)
Maybe that's exactly what Porsche wants, for Winterkorn to leave. Plus the claims of Porsche being most profitable and "more reliable" relative to VW are based on volume. That's like saying the "mom & pop" store pulls in more money per investment than Wal*mart does... what does that mean???
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psu48187 11:34AM (6/02/2008)
Well honestly, what did VW/Audi senior management expect? Having the impression that Porsche will leave everything 'as is' is crazy. There's always room for improvement, and Porsche is going to make sure that their investment works.
Come off the high horse already
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Chris 11:37AM (6/02/2008)
I was all set on leasing a new VW EOS, after encountering the VW dealer I have zero interest in this brand.
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zmf001 12:02PM (6/02/2008)
I hate to admit it, as a VW/Audi owner for my past 4 vehicles, VW and Audi have some of the worst and some of the best dealerships out there. It is sad that it is up to the customer to travel around and find a good one. Good ones DO exist, I just wish AoA and VWoA would do some foot work and weed out the bad ones.
amorak 12:05PM (6/02/2008)
...Or did you step into the VW dealership's bathroom, look down, realize you had a dong and thus think " I shouldn't be driving a girl's car!"
zmf001 12:04PM (6/02/2008)
I would be welcoming to assistance of Porsche if I were VW and Audi. Then again I think I'll just sell my Audi and buy a Porsche, that will be easier than trying to convince them to accept all the help they can get.
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The Doctor 12:16PM (6/02/2008)
Whilst Porsche does have some pretty good management, their massive profits of late have not been entirely due to their car building activities but rather the huge amount of exchange rate hedges that they engage in (someone once described Porsche as a hedge fund with a carbuilding department)...
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Goat Law 12:18PM (6/02/2008)
Since when did quitting constitute a valid threat? This is like a petulent 3rd grader refusing to play if he couldn't get his way.
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wushu 12:22PM (6/02/2008)
The EU should step in and force Porsche AG to divest its shares of Audi in order to maintain fair competition and allow more choice for us car-buying enthusiasts. Already, the evil Porsche AG empire has nixed the promising Audi R6, a 6-cylinder version of the mid-engine Audi R8, because it would have been faster than a Porsche Cayman S but price lower than a base Porsche Cayman non-S. Now, that's exactly the type of car I want to buy. I just hate Porsche for 1. deliberately crippling the Cayman S and 2. not allowing Audi to make an even better Cayman S.
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synn 12:24PM (6/02/2008)
Get your stinking paws off my Lambos, Porsche...
Stick to your mongoloid toads. The rest of us who appreciate good looking cars are happy the way things currently are.
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rsfourever 12:57PM (6/02/2008)
agreed! the thing that scares me most is that Porsche has already made it clear that they would want to kill off Bugatti if they ever get full control of VAG. And Lamborghini wouldnt sit too well either... it scares me