Porsche owned by VW???
 

Why do so many people think this???

Today I went to buy a VW for my g/f and the salesman kept telling me that Porsche was owned by VW and that much of the technology went into the VWs... man that guy was on CRACK!!!

Porsche and VW do share technologies with each other, but VW doesn't own them. He's probably just embellishing the share into ownership (i.e. lying through his teeth) to try and make the deal. :rolleyes:

Porsche just acquired a controlling share of VW (~18% now) to help protect its relationship. The two collaborated on the design of the Cayenne.

tmc

Oh no, Porsche is not owned by VW, its the other way around. The salesman must have been BS'ing because of the history of Porsche began with VW.

Next you'll hear a sales guy say that Audi owns Porsche and VW because of the origin of the Audi 5 rings emblem(back in history the rings symbolized the brethren between Audi, Porsche, and VW).....

They are all synchromeshed but separate
 

The relationship between Audi, VW and Porsche goes back to the time of the beetle. F. Porsche help build the VW beetle. The designer for the 356 and beetle was Erwin Komeda. Porsche used a lot off the shelf parts from the beetle in the 356. VW would in turn pay royalty for each beetle built to Porsche. Ferninand Piech grandson of Porsche, got into the fray first as a race program designer for Porsche and then going over to Audi as chairman. Piech later became ceo of VW and Audi collaborated with Porsche with the Porsche 924 and so on. In summary their relationship is very common Porsche & Piech as well as with VW Audi and Porsche. Neither owned one another but work very close with each other. Just recently Porsche bought 20% of VW to make sure to continue that the cooperation as they have had in the past with, 914,912,924, 944 & Cayenne continues well into the future.

The Porsche 914 was only a Porsche in America. Everywehere else it was branded a VW.

and of course the VW Toureg or however you spell it and the Cayenne share many many parts but are very very different in prices and options.

It wasn't simply because the nice people at Porsche wanted to drop a 'coupla-Billion' on their good friends at VW because they're such nice guys. I gather it's really a poison pill so some slimy slug like GM doesn't simple roll over them like they did to Saab. Here's a better report on it:

___________________________

In a move billed as a defensive maneuver on the part of the Stuttgart-based sports car manufacturer, Porsche AG announced that it planned to acquire roughly 20-percent of Volkswagen AG. The investment is intended to protect the manufacturer of brands including Volkswagen, Audi, SEAT, Skoda, Lamborghini, Bentley and Bugatti from a potential hostile takeover, given the company’s shared chassis and technology projects like the SUV platform on which the Porsche Cayenne is based.

“Dr. Ing. h.c. F. Porsche AG, Stuttgart, seeks to acquire a share of approximately 20 per cent in the stock capital of Volkswagen AG, Wolfsburg, entitled to vote.,” Porsche said in a statement.

The Porsche Cayenne is produced in Volkswagen’s Bratislava, Slovakia plant alongside the Volkswagen Touareg and soon to be joined by the Audi Q7. Production of the Porsche SUV makes up 30-percent of the sports car company’s sales volume, leaving Porsche very vulnerable were Volkswagen AG to fall victim to a hostile takeover.

“Making this investment, we seek to secure our business relations with Volkswagen and make a significant contribution to our own future plans on a lasting, long-term basis,” Porsche’s managing director Wendelin Wiedeking was quoted in the Porsche release.

The company further clarified that it had no intention to acquire Volkswagen. The amount of shares Porsche plans to acquire would not force them to submit a public bid for the takeover of the much larger Volkswagen AG.

“Our planned investment is the strategic answer to this risk. We wish in this way to ensure the independence of the Volkswagen Group in our own interest. This "German solution" we are seeking is an essential prerequisite for stable development of the Volkswagen Group and, accordingly, for continuing our cooperation in the interest of both Companies,” said Porsche’s CEO.

Volkswagen AG is currently protected from takeover via the so-called Volkswagen law. However, a ruling expected in 2007 by the European Court of Justice is expected to leave the German industrial leader exposed to such an occurrence, causing concern in Wolfsburg and Stuttgart alike.

The German weekly publication Der Spiegel broke the story in late September, reporting that the deal could be worth over 4 billion Euros (approx. 4.8 billion dollars) according to Bloomberg.com.

Porsche has increased its share value 44 percent this year, also according to Bloomberg, which places its market value at a healthy 11.9 billion. It’s theorized that the purchase could adversely affect Porsche share pricing, though Volkswagen stock is currently low, which could mean a good purchase price for Porsche.

In a press release responding to Porsche, Volkswagen AG Chairman Dr. Bernd Pischetsrieder welcomed the interest in Porsche, suggesting a stable shareholder structure provided by Stuttgart’s investment would be good for Volkswagen’s long-term future.

"It wasn't simply because the nice people at Porsche wanted to drop a 'coupla-Billion' on their good friends at VW because they're such nice guys. I gather it's really a poison pill so some slimy slug like GM doesn't simple roll over them like they did to Saab.

Self interest, is well, self interest. Porsche is protecting its Ass-ets, plain and simpe.


:cheers:

Seriously though... VW dealerships just piss me off...

While the salesman was spewing that BS to me, he actually lit up a smoke while he was trying to make a sale... thats just rediculous... not to mention all the times the VW service dept screwed me over...

Once I took the car in for service 25 miles below the warrantee period expired... and when I went to pick up the car.. it was 25 miles over the warrantee period... they drove the car 50 miles during the 1 day it was there.. when I confronted the manager about it, he said they just wanted to make sure the problem was totally fixed cause it was a recurring problem that I had...

50 miles is like a 2 hour drive... totally rediculous... my friend says sometimes the mechanics will drive the cars home at night and bring it back in the mornings... i'm never buying a VW EVER again....

No wonder they have one of the lowest customer satisfaction ratings....

oh.. and to add... the problem was never resolved.. i had to take it to an independant VW/Audi/Porsche mechanic who fixed it on the first shot... this after I had taken it to VW 4 times to have it fixed... of course it cost me $400 bux... :mad:

I guess you have never been to a Mazda or Toyota service department.
But to their credit those cars never break down.

In all fairness I've had nothing but good things to say about my '04 Jetta, the dealer, or their service department.

Porsche Service
 

Although we are drifting somewhat of the thread but service has been injected into the thread I must say that Silver Star Porsche in Roslyn, NY is very good. Lana the manager treats you like family and is very accomodating. She's done service on items that you just added at the last minute with a smile in her face. Although it is expensive everything is done correctly.