• Apr 23, 2009
Here at Autoblog reports regularly cross our desks suggesting all sorts of contorted deals supposedly being brokered between automakers. This one's in bed with that one, that one's selling the other but retaining a minority interest, another one's starting a joint venture with yet another while buying part of its competitor. And we try to make sense of it all, if not for your sake then for our own sanity's, but some are just way over the top. Like this latest report that suggests that, in essence, Porsche could sell itself to Volkswagen.

Wait, what? Didn't Porsche just buy Volkswagen? Well yeah, for the most part. The parent company Porsche Automobil Holding SE holds majority interest in the Volkswagen group, and is planning on buying more. But in order to do so, the rumors suggest, the holding company would have to sell its auto manufacturing unit (Porsche AG) to Volkswagen, and then, we're supposed to understand, turn around a buy another quarter of VW's shares with the cash generated. (With us so far?) The put would undoubtedly drive Volkswagen's shares up, generating more cash for VW and more debt for a hungry Porsche.

Of course both German carmakers are dismissing the reports as "nonesense", just like they have about another rumor that suggests Porsche is planning on replacing its CEO Wendelin Wiedeking with Volkswagen chief-exec Martin Winterkorn. Those rumors were fueled by Wiedeking's conspicuous absense at the Panamera launch in Shanghai, where Winterkorn was in attendance, but similarly denied by both automakers as mere conjecture. Though the CEO swap rumor is slightly more believable, these latest turns of the rumor mill still make about as much sense as a convertible amphibious submarine...but then again, we've seen that, too.

[Sources: Reuters, The Wall Street Journal and Automotive News Europe – subs. req'd]


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    • 1 Second Ago
  • 7 Comments
      • 5 Years Ago
      Why would anyone want to replace Wiedeking, he's Europe's most successful CEO.
      He's 10x better than any other car CEO out there!
      • 5 Years Ago
      How come the Porsche head logo is Canadian?
      • 5 Years Ago
      I heard a rumor that GM was gonna sell itself to Chevrolet then have Chevrolet use the money to buy up GM shares, and then GM would then sell off shares to buy more of itself.
      I also heard a rumor that the easter bunny was going to buy Subaru.
        • 5 Years Ago
        Lol.

        I think there is a large "Days Since Ownership Change" board in the VW board-room.
      • 5 Years Ago
      OM NOM NOM
      • 5 Years Ago
      Can't they just agree to sleep together but still be free to see others or whatever it is they are trying to accomplish?
      • 5 Years Ago
      The brand, you can’t fool with the brand.