![Gran Turismo 5 demo coming to PSN on Dec 17, GT Academy returns [w/VIDEO]](http://www.blogcdn.com/www.autoblog.com/media/2009/12/370z-gt-academy_143x85.jpg)
Porsche now owns 42.6% of Volkswagen
Just last month, Porsche made another move toward fulfilling its vow to take over Volkswagen. Sunday, Porsche again increased its stake, giving it almost 43% of the Beetle-maker.
"The goal remains, as long as the financial conditions are right, to increase [the stake] to 75 percent in 2009 and clear the way for a controlling stake," Porsche said in a press release.
After last week's big meeting between the two companies and, more significantly, since Porsche's stated goal is to own 50% of VW by the end of November, this new step is really no surprise.
[Source: The Associated Press via The Detroit News]
Reader Comments (Page 1 of 1)
Malfoy Roark 7:52AM (10/27/2008)
go get em Porsche. :)
Reply
Sid 8:00AM (10/27/2008)
If you like Audis and Lambos, buy 'em now before Porsche puts I4s in them :P
Reply
garlinski 8:34AM (10/27/2008)
There better be some serious trickle-down of technology... VW can't go backwards to 115hp GTI's or worse... Porsche in a round-about way owning Lambo would be weird too... just a strange situation
Reply
993C4S 10:55AM (10/27/2008)
It's actually a pretty good fit and makes a lot of sense to have Porsche own VW.
Let's not forget that most of this is positioning with regard to CAFE standards/regulations. By owning VW, they spread the requirements across a broader model range allowing their flagship 911s to remain unmolested if you will.
As an added benefit it's been fantastic for both Porsche and VW shareholders. :-)
garlinski 11:17AM (10/27/2008)
first... LOVE the 993 C4S! Good name... second, hope you make a killing on that stock! Lucky guy.
Level 12:16PM (10/27/2008)
Who would of a thought that Porsche was doing so well to buy up on VW. They must be making some serious money on selling pretty much Chayannes and its 911 variants.....
Reply
nagmashot 12:42PM (10/27/2008)
the most of the money that Porsche earns comes currently from the Volkswagen stocks they own. This buy out pays itself... Porsche currently earns more money via VW stocks as with selling their own cars..
Mobius_1 3:58PM (10/27/2008)
So now can they kill the Cayenne? :P
Reply