Porsche
Encyclopedia
Porsche Automobil Holding SE, usually shortened to Porsche SE (ˈpɔʁʃə) a Societas Europaea or European Public Company
, is a German based holding company
with investments in the automotive industry
.
Porsche SE is headquartered in Zuffenhausen, a city district of Stuttgart
, Baden-Württemberg and is owned by the Piëch
and Porsche
families, and Qatar Holdings, through the Qatar Investment Authority
(10%). Through its investment in Porsche Zwischenholding GmbH, it owns 50.1% of Dr. Ing. h.c. F. Porsche AG, which is the manufacturer of a range of sports cars and SUVs, and 50.7% of Volkswagen AG.
The company was founded as Dr. Ing. h. c. F. Porsche GmbH in 1931 by Ferdinand Porsche
, an Austrian engineer born in Maffersdorf, during the time of the Austro-Hungarian Empire
, and Porsche's son-in-law Anton Piëch, an Austrian lawyer.
reached an agreement that the two companies would merge in 2011, to form an "Integrated Automotive Group".
Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa
Ferdinand Porsche Aktiengesellschaft
), is responsible for the actual production and manufacture of the Porsche automobile line. The company currently produces Carrera
(997
), Boxster
and Cayman
sports cars, the Cayenne
sport utility vehicle
and the four-door Panamera
. There are future models currently being developed by Porsche in Stuttgart, Germany.
, Mieschke Hoffman (81.1%) and Bertrandt (25%).
Porsche Engineering Group (PEG) has for many years offered consultancy services to various other car manufacturers. Audi
, Mercedes
, Opel
, Studebaker
, SEAT
, Daewoo
, Subaru
, Zastava Automobiles
and others have consulted Porsche Engineering Group for their cars or engines. The Lada Samara
was partly developed by Porsche in 1984. Porsche Engineering Group also helped Harley-Davidson
design the Revolution 60-degree v-twin water-cooled engine and gearbox that is used in their V-Rod motorcycle.
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Professor Ferdinand Porsche
founded the company called "Dr. Ing. h. c. F. Porsche GmbH" in 1931, with main offices at Kronenstraße 24 in the centre of Stuttgart
. Initially, the company offered motor vehicle development work and consulting, but did not build any cars under its own name. One of the first assignments the new company received was from the German government to design a car for the people, a . This resulted in the Volkswagen Beetle
, one of the most successful car designs of all time. The Porsche 64
was developed in 1939 using many components from the Beetle.
During World War II
, Volkswagen
production turned to the military version of the Volkswagen Beetle, the Kübelwagen, 52,000 produced, and Schwimmwagen, 14,000 produced. Porsche produced several designs for heavy tank
s during the war, losing out to Henschel & Son
in both contracts that ultimately led to the Tiger I
and the Tiger II
. However, not all this work was wasted, as the chassis Porsche designed for the Tiger I was used as the base for the Elefant
tank destroyer
. Porsche also developed the Maus
super-heavy tank
in the closing stages of the war, producing two prototypes.
At the end of WW2 in 1945, the Volkswagen factory at KdF-Stadt fell to the British. Ferdinand lost his position as Chairman of the Board of Management of Volkswagen, and a British Army Major – Ivan Hirst
was put in charge of the factory. (In Wolfsburg, the Volkswagen company magazine dubbed him "The British Major who saved Volkswagen.") On 15 December of that year, Ferdinand was arrested for war crimes, but not tried. During his 20-month imprisonment, Ferdinand Porsche's son, Ferry Porsche, decided to build his own car because he could not find an existing one that he wanted to buy. He also had to steer the company through some of its most difficult days until his father's release in August 1947. The first models of what was to become the 356
were built in a small sawmill in Gmünd, Austria. The prototype car was shown to German auto dealers, and when pre-orders reached a set threshold, production was begun. Many regard the 356 as the first Porsche simply because it was the first model sold by the fledgling company. Porsche commissioned a Zuffenhausen-based company, Reutter Karosserie, which had previously collaborated with the firm on Volkswagen Beetle prototypes, to produce the 356's steel body. In 1952, Porsche constructed an assembly plant (Werk 2) across the street from Reutter Karosserie; the main road in front of Werk 1, the oldest Porsche building, is now known as Porschestrasse. The 356 was road certified in 1948.
Porsche's company logo was based on the coat of arms of Free People's State of Württemberg
of former Weimar Germany, which had Stuttgart as its capital and became part of Baden-Württemberg
after the political consolidation of West Germany
in 1949. Not long afterwards, on 30 January 1951, Ferdinand Porsche died from complications following a stroke.
In post-war Germany, parts were generally in short supply, so the 356 automobile used components from the Volkswagen Beetle including its internal combustion engine
, transmission
, and suspension
. The 356, however, had several evolutionary stages, A, B, and C, while in production, and many Volkswagen parts were replaced by Porsche-made parts. The last 356s were powered by entirely Porsche-designed engines. The sleek bodywork was designed by Erwin Komenda
who also had designed the body of the Beetle. Porsche's signature designs have, from the beginning, featured air-cooled rear-engine configurations (like the Beetle), rare for other car manufacturers, but producing automobiles that are very well balanced.
In 1964, after some success in motor-racing
, namely with the Porsche 550 Spyder
, the company launched the Porsche 911
another air-cooled
, rear-engined
sports car, this time with a six-cylinder "boxer" engine
. The team to lay out the body shell design was led by Ferry Porsche's eldest son, Ferdinand Alexander Porsche
(F. A.). The design phase for the 911 caused internal problems with Erwin Komenda, who led the body design department until then. F. A. Porsche complained Komenda made unauthorized changes to the design. Company leader Ferry Porsche took his son's drawings to neighboring chassis manufacturer Reuter. Reuter's workshop was later acquired by Porsche (so-called Werk 2). Afterward Reuter became a seat manufacturer, today known as Keiper-Recaro
.
The design group gave sequential numbers to every project (356, 550, etc.), but the designated 901 nomenclature contravened Peugeot
's trademarks on all 'x0x' names, so it was adjusted to 911. Racing models adhered to the "correct" numbering sequence: 904, 906, 908. The 911 has become Porsche's most well-known and iconic model – successful on the race-track, in rallies
, and in terms of road car sales. Far more than any other model, the Porsche brand is defined by the 911. It remains in production; however, after several generations of revision, current-model 911s share only the basic mechanical concept of a rear-engined, six-cylinder coupé
, and basic styling cues with the original car. A cost-reduced model with the same body, but 356-derived running gear (including its four-cylinder engine), was sold as the 912.
In 1972, the company's legal form was changed from Kommanditgesellschaft
(KG), or limited partnership, to Aktiengesellschaft
(AG), or public limited company, because Ferry Porsche and his sister, Louise Piëch
, felt their generation members did not team up well. This led to the foundation of an Executive Board whose members came from outside the Porsche family, and a Supervisory Board consisting mostly of family members. With this change, no family members were in operational charge of the company. F. A. Porsche founded his own design company, Porsche Design
, which is renowned for exclusive sunglasses, watches, furniture, and many other luxury articles. Ferdinand Piëch
, who was responsible for mechanical development of Porsche's serial and racing cars, formed his own engineering bureau, and developed a five-cylinder-inline diesel engine
for Mercedes-Benz
. A short time later he moved to Audi
, and pursued his career through the entire company, up to and including, the Volkswagen Group
boards.
The first Chief Executive Officer (CEO) of Porsche AG was Dr. Ernst Fuhrmann
, who had been working in the company's engine development. Fuhrmann was responsible for the so-called Fuhrmann-engine used in the 356 Carrera models, as well as the 550 Spyder, having four overhead camshafts instead of a central camshaft with pushrods, as in the Volkswagen-derived serial engines. He planned to cease the 911 during the 1970s, and replace it with the V8
-front engined
grand sportswagon 928
. As we know today, the 911 outlived the 928 by far. Fuhrmann was replaced in the early 1980s by Peter W. Schutz
, an American manager and self-proclaimed 911 aficionado. He was then replaced in 1988 by the former manager of German computer company Nixdorf Computer AG, Arno Bohn, who made some costly miscalculations that led to his dismissal soon after, along with that of the development director, Dr. Ulrich Bez, who was formerly responsible for BMW's Z1
model, and today is CEO of Aston Martin
.
In 1990, Porsche drew up a memorandum of understanding with Toyota to learn and benefit from Japanese lean production methods. In 2004 it was reported that Toyota was assisting Porsche with hybrid technology
.
Following the dismissal of Bohn, an interim CEO was appointed, longtime Porsche employee, Heinz Branitzki, who served in that position until Dr. Wendelin Wiedeking became CEO in 1993. Wiedeking took over the chairmanship of the board at a time when Porsche appeared vulnerable to a takeover by a larger company. During his long tenure, Wiedeking has transformed Porsche into a very efficient and profitable company.
Ferdinand Porsche's grandson, Ferdinand Piëch
, was chairman and CEO of the Volkswagen Group
from 1993 to 2002. Today he is chairman of the Supervisory Board. With 12.8 percent of the Porsche voting shares, he also remains the second largest individual shareholder of Porsche AG after his cousin, F. A. Porsche, (13.6 percent).
Porsche's 2002 introduction of the Cayenne also marked the unveiling of a new production facility in Leipzig
, Saxony, which once accounted for nearly half of Porsche's annual output. In 2004, production of the 456 kW Carrera GT commenced in Leipzig, and at EUR 450,000 ($440,000 in the United States) it was the most expensive production model Porsche ever built.
As of 2005, the extended Porsche and Piëch families controlled all of Porsche AG's voting shares. In early October 2005 the company announced acquisition of an 18.53% stake in Volkswagen AG (VW AG), and disclosed intentions to acquire additional VW AG shares in the future. As of June 2006, the Porsche AG stake in VW AG had risen to 25.1%, giving Porsche a blocking minority, whereby Porsche can veto large corporate decisions undertaken by VW AG.
In mid-2006, after years of the Boxster (and later the Cayenne) as the dominant Porsche in North America, the 911 regained its position as Porsche's backbone in the region. The Cayenne and 911 have cycled as the top-selling model since. In Germany the 911 clearly outsells the Boxster/Cayman and Cayenne.
(VW) marque, and later, the Volkswagen Group
(which also owns AUDI AG
), because the first Volkswagen Beetle
was designed by Ferdinand Porsche
. The two companies collaborated in 1969 to make the VW-Porsche 914 and 914-6
, whereby the 914-6 had a Porsche engine, and the 914 had a Volkswagen engine, in 1976 with the Porsche 912
E (USA only) and the Porsche 924
, which used many Audi components, and was built at Audi's Neckarsulm
factory. Porsche 944
s were also built there, although they used far fewer Volkswagen components. The Cayenne, introduced in 2002, shares its entire chassis with Volkswagen Touareg
and Audi Q7
, which is built at the Volkswagen Group factory in Bratislava
. In late 2005, Porsche took an 18.65% stake in the Volkswagen Group, further cementing their relationship, and preventing a takeover of Volkswagen Group, which was rumoured at the time. Speculated suitors included DaimlerChrysler AG, BMW
, and Renault
.
On 26 March 2007, Porsche took its holding of Volkswagen AG shares to 30.9%, triggering a takeover bid under German Law
. Porsche then formally announced in a press statement that it did not intend to take over Volkswagen Group (it would set its offer price at the lowest possible legal value), but intended the move to avoid a competitor taking a large stake, or to stop hedge fund
s dismantling Volkswagen Group, which is Porsche's most important partner. Porsche's move comes after the European Union
moved against a German Law that protected Volkswagen AG from takeovers. Under the so-called "Volkswagen Law", any shareholder with more than 20% of the voting rights has veto power over any corporate decision in the annual general meeting – in effect, any shareholder in VW AG cannot exercise more than 20% of the firm's voting rights, regardless of their level of stock holding. (The local state government of Lower Saxony
owns 20.1% of the shares.) However, the European Court of Justice
ruled against the law, potentially paving the way for a takeover.
On 16 September 2008, Porsche increased its shares by another 4.89%, in effect taking control of the company, with more than 35% of the voting rights. It again triggered a takeover bid, but this time over Audi. Porsche dismissed the bid as a mere formality, since it is Porsche's intention to keep the corporate structure of the Volkswagen Group.
There has been some tension and anxiety amongst the Volkswagen Group workers, who fear that a Porsche takeover might signify a hardened production efficiency control, rejection of demands for payment rises or even personnel cuts. Ferdinand Piëch
and his cousin, Wolfgang Porsche, also seemed to be on a collision course.
On 13 August 2009, Volkswagen AG's Supervisory Board signed the agreement to create an "integrated automotive group" with Porsche, led by Volkswagen AG. Volkswagen will initially take a 49.9 percent stake in Porsche AG by the end of 2009, and it will also see the family shareholders selling the automobile trading business of Porsche Holding Salzburg to Volkswagen AG.
, renamed "Porsche Automobil Holding SE", and a new Dr Ing. h. c. F. Porsche AG operating company being formed in 2007. Thus the operating activities are separated from holding activities of the company. There was an Extraordinary General Meeting
(EGM) for Porsche AG shareholders which took place on 26 June 2007, at the Porsche Arena in Stuttgart
, Germany to discuss the change to the company structure.
In the late 2009 VW (Also owned by AUDI) bought the controlling rights to Porsche. T
On 3 March 2007, Porsche set the stage for obtaining a plurality stake in the Volkswagen AG. One day later Porsche sought to allay fears it would attempt to force a merger
with Volkswagen Group. By September, Porsche owned a 35.14% plurality stake in Volkswagen AG, effectively giving it control over the company. Volkswagen Group expected the move, and welcomed Porsche's investment.
In October 2008, Porsche announced its intent to raise its stake in Volkswagen AG to 75% during 2009, and on 7 January 2009, Porsche's holding in VW AG was raised to 50.76%. Porsche's move automatically triggered a bid for Scania AB, because VW AG already had a controlling position in the Swedish truck-maker. As Porsche had no strategic interest in the company, on 19 January, they offered the minimum price in that mandatory takeover bid. Porsche SE owned 50.8 percent of Volkswagen Group as of 5 January 2009, and has said it plans to lift the stake to 75 percent before the end of 2009, at that level they could bring VW AG's cash onto Porsche's books.
By March 2009, Porsche SE was aiming for its first ever credit ratings from U.S. rating agencies Standard & Poor's
and Moody's
.
In its efforts to acquire a majority holding in Volkswagen AG, Porsche built up a large debt burden, aggravated by taxes due on very large paper profits from Volkswagen AG options. By July 2009, Porsche was faced with debts exceeding 10 billion euros. The supervisory board of Porsche finally agreed to a number of arrangements whereby the Qatar Investment Authority
would inject a large amount of capital, and Porsche would be merged
with Volkswagen Group. On 23 July 2009, Michael Macht
was appointed CEO, to replace Wendelin Wiedeking
, who is expected to receive a compensation package of 50 million euros.
In July 2010, Porsche appointed Volkswagen executive Matthias Müller
to its new CEO position, moving Michael Mauer to another executive position within Volkswagen AG.
, a new mixed-use development on the site of the old Ford Hapeville plant
adjacent to Atlanta's airport. Designed by architectural firm HOK
, the headquarters will include a new office building and test track.
, but the Cayenne and Panamera models are manufactured in Leipzig
, Germany, and parts for the SUV are also assembled in the Volkswagen Touareg
factory in Bratislava
, Slovakia. Boxster and Cayman production was outsourced to Valmet Automotive
in Finland from 1997 to 2011, after which when assembly was moved back to the German
homeland.
The company has been highly successful in recent times, and indeed claims to have the highest profit per unit sold of any car company in the world.
Table of profits (in millions of euros) and number of cars produced. Figures from 2008/9 onwards were not reported as part of Porsche SE.
includes sports cars from the Boxster
roadster
to their most famous product, the 911
. The Cayman
is a hard top car similar to the Boxster. The Cayenne
is Porsche's mid-size luxury sport utility vehicle
(SUV). A high performance luxury saloon/sedan, the Panamera, was launched in 2009.
but this has not yet been formally announced.
Porsche is the most successful brand in motorsport
, scoring a total of more than 28,000 victories, including a record 16 constructor wins at the 24 Hours of Le Mans
. Porsche is currently the world's largest race car manufacturer. In 2006, Porsche built 195 race cars for various international motor sports events. In 2007, Porsche is expected to construct no fewer than 275 dedicated race cars (7 RS Spyder LMP2 prototypes, 37 GT2 spec 911 GT3-RSRs, and 231 911 GT3 Cup vehicles).
/. However, the company's German pronunciation is ˈ ("Porsh-eh"). German language words do not have a silent "e"
, and a final "e" in German is pronounced as an unaccented (minimal emphasis/duration) schwa
.
, New York; it questioned more than 500 households with a gross annual income of at least $200,000 and a net worth of at least $720,000.
Porsche was awarded the 2006, 2009, and 2010 J.D. Power and Associates
award for the highest-ranked nameplate in its Initial Quality Study (IQS) of automobile brands.
, even an at-the-time questionable foray into the SUV market with the Cayenne in 2003, couldn't damage Porsche credibility. The Times
journalist Andrew Frankel says on one level, it is the world's best 4x4, on another, it is the cynical exploitation of a glorious brand that risks long-term damage to that brand’s very identity in the pursuit of easy money with his verdict being "Great car, if only it wasn't a Porsche". Despite the controversy faced by critics, the Cayenne has been a success, generating enough profit for the company to invest in and upgrade the existing model range, as well as fund the Panamera project.
Video clips
European Company Statute
The Council Regulation on the Statute for a European Company is an EU Regulation containing the rules for a public EU company, called a Societas Europaea, or "SE". An SE can register in any member state of the European Union, and transfer to other member states. , at least 702 registrations have...
, is a German based holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
with investments in the automotive industry
Automotive industry
The automotive industry designs, develops, manufactures, markets, and sells motor vehicles, and is one of the world's most important economic sectors by revenue....
.
Porsche SE is headquartered in Zuffenhausen, a city district of Stuttgart
Stuttgart
Stuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million ....
, Baden-Württemberg and is owned by the Piëch
Louise Piëch
Louise Piëch was the daughter of automotive pioneer Ferdinand Porsche. In 1928, she married Anton Piëch, a lawyer from Vienna who from 1941 to 1945 led the Volkswagen factory in Wolfsburg....
and Porsche
Porsche family
The Porsche family is a prominent German family of industrialists descending from the Austrian automotive pioneer Ferdinand Porsche. Its members own a significant share of the Porsche automobile corporation.-Other members:...
families, and Qatar Holdings, through the Qatar Investment Authority
Qatar Investment Authority
The Qatar Investment Authority is Qatar's sovereign wealth fund, specializing in domestic and foreign investment. It was founded in 2005 to manage the oil and natural gas surpluses by the Government of Qatar...
(10%). Through its investment in Porsche Zwischenholding GmbH, it owns 50.1% of Dr. Ing. h.c. F. Porsche AG, which is the manufacturer of a range of sports cars and SUVs, and 50.7% of Volkswagen AG.
The company was founded as Dr. Ing. h. c. F. Porsche GmbH in 1931 by Ferdinand Porsche
Ferdinand Porsche
Ferdinand Porsche was an Austrian automotive engineer and honorary Doctor of Engineering. He is best known for creating the first hybrid vehicle , the Volkswagen Beetle, and the Mercedes-Benz SS/SSK, as well as the first of many Porsche automobiles...
, an Austrian engineer born in Maffersdorf, during the time of the Austro-Hungarian Empire
Austria-Hungary
Austria-Hungary , more formally known as the Kingdoms and Lands Represented in the Imperial Council and the Lands of the Holy Hungarian Crown of Saint Stephen, was a constitutional monarchic union between the crowns of the Austrian Empire and the Kingdom of Hungary in...
, and Porsche's son-in-law Anton Piëch, an Austrian lawyer.
Corporate structure
Porsche SE was spun out of Dr. Ing. h.c. F. Porsche AG (Porsche AG) in June 2007 and became a holding company for its stake in Porsche Zwischenholding GmbH (50.1%) (which in turn holds 100% of Porsche AG) and Volkswagen AG (50.7%). Since December 2009, Porsche SE lost control Porsche Zwischenholding GmbH, which as a result is now a joint venture between Porsche SE and Volkswagen AG. In August 2009, Porsche SE and Volkswagen AGVolkswagen Group
Volkswagen Group is a German multinational automobile manufacturing group. , Volkswagen was ranked as the world’s third largest motor vehicle manufacturer and Europe's largest....
reached an agreement that the two companies would merge in 2011, to form an "Integrated Automotive Group".
Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa
Honorary degree
An honorary degree or a degree honoris causa is an academic degree for which a university has waived the usual requirements, such as matriculation, residence, study, and the passing of examinations...
Ferdinand Porsche Aktiengesellschaft
Aktiengesellschaft
Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e. owned by shareholders, and may be traded on a stock market. The term is used in Germany, Austria and Switzerland...
), is responsible for the actual production and manufacture of the Porsche automobile line. The company currently produces Carrera
Porsche 911
The Porsche 911 is a luxury 2-door sports coupe made by Porsche AG of Stuttgart, Germany. It has a distinctive design, rear-engined and with independent rear suspension, an evolution of the swing axle on the Porsche 356. The engine was also air-cooled until the introduction of the Type 996 in 1998...
(997
Porsche 997
The Porsche Type 997 , also simply called the 997 is the current version of the 911 family sports car built by German manufacturer Porsche in Stuttgart-Zuffenhausen...
), Boxster
Porsche Boxster
The Porsche Boxster is a mid-engined roadster built by Porsche. The Boxster is Porsche's first road vehicle to be originally designed as a roadster since the 550 Spyder....
and Cayman
Porsche Cayman
The Porsche Cayman is a mid-engined, rear wheel drive 2-seat sports car produced by Porsche AG of Germany. First launched in the 2006 model year, the Cayman is a coupé derived from Porsche's second generation Boxster convertible. Like the Boxster, most Caymans were assembled in Finland for Porsche...
sports cars, the Cayenne
Porsche Cayenne
The Porsche Cayenne is a five seat mid-size luxury crossover manufactured by the German manufacturer Porsche since 2002, with North American sales beginning in 2003. Its platform was developed by Porsche and is shared with the Volkswagen Touareg and the Audi Q7. It is the first V8-engined vehicle...
sport utility vehicle
Sport utility vehicle
A sport utility vehicle is a generic marketing term for a vehicle similar to a station wagon, but built on a light-truck chassis. It is usually equipped with four-wheel drive for on- or off-road ability, and with some pretension or ability to be used as an off-road vehicle. Not all four-wheel...
and the four-door Panamera
Porsche Panamera
The Porsche Panamera is a four-door a coupe. It is front-engined with rear-wheel drive, with four-wheel drive versions also available....
. There are future models currently being developed by Porsche in Stuttgart, Germany.
Subsidiaries
Other subsidiaries and operating divisions include Porsche Consulting, Porsche Engineering, Porsche Design GroupPorsche Design Group
Porsche Design Group , based in Bietigheim-Bissingen, Germany, was founded in November 2003 by as a majority-owned subsidiary of Porsche AG to combine Porsche AG's and Porsche Design Group’s accessories and licensing business into one single company.Originally, there were five independently...
, Mieschke Hoffman (81.1%) and Bertrandt (25%).
Porsche Engineering Group (PEG) has for many years offered consultancy services to various other car manufacturers. Audi
Audi
Audi AG is a German automobile manufacturer, from supermini to crossover SUVs in various body styles and price ranges that are marketed under the Audi brand , positioned as the premium brand within the Volkswagen Group....
, Mercedes
Mercedes
Mercedes is a girl's name of Spanish origin, referring to a title for the Virgin Mary, "Our Lady of Mercy". The word may also refer to:Automobile-related...
, Opel
Opel
Adam Opel AG, generally shortened to Opel, is a German automobile company founded by Adam Opel in 1862. Opel has been building automobiles since 1899, and became an Aktiengesellschaft in 1929...
, Studebaker
Studebaker
Studebaker Corporation was a United States wagon and automobile manufacturer based in South Bend, Indiana. Founded in 1852 and incorporated in 1868 under the name of the Studebaker Brothers Manufacturing Company, the company was originally a producer of wagons for farmers, miners, and the...
, SEAT
SEAT
SEAT, S.A. is a Spanish automobile manufacturer founded on May 9, 1950 by the Instituto Nacional de Industria , a state-owned industrial holding company....
, Daewoo
Daewoo
Daewoo or the Daewoo Group was a major South Korean chaebol . It was founded on 22 March 1967 as Daewoo Industrial and was dismantled by the Korean government in 1999...
, Subaru
Subaru
; is the automobile manufacturing division of Japanese transportation conglomerate Fuji Heavy Industries .Subaru is internationally known for their use of the boxer engine layout popularized in cars by the Volkswagen Beetle and Porsche 911, in most of their vehicles above 1500 cc as well as...
, Zastava Automobiles
Zastava Automobiles
Zastava Automobiles is a Serbian industrial conglomerate based in the city of Kragujevac in central Serbia, currently run as a joint venture between the Fiat Group and the Serbian government . It is most known for its Fiat-based automobiles, which began assembling in 1955 for Eastern European...
and others have consulted Porsche Engineering Group for their cars or engines. The Lada Samara
Lada Samara
The Lada Samara or VAZ-2108 is an economy car produced by Soviet/Russian vehicle manufacturer AvtoVAZ's Lada brand, from 1984 until 2004. The brand name Samara originally was used only for exported models, in Russia the same model was called "Sputnik" , until 1991, when the sedan version of Samara...
was partly developed by Porsche in 1984. Porsche Engineering Group also helped Harley-Davidson
Harley-Davidson
Harley-Davidson , often abbreviated H-D or Harley, is an American motorcycle manufacturer. Founded in Milwaukee, Wisconsin, during the first decade of the 20th century, it was one of two major American motorcycle manufacturers to survive the Great Depression...
design the Revolution 60-degree v-twin water-cooled engine and gearbox that is used in their V-Rod motorcycle.
History
Ferdinand Porsche
Ferdinand Porsche was an Austrian automotive engineer and honorary Doctor of Engineering. He is best known for creating the first hybrid vehicle , the Volkswagen Beetle, and the Mercedes-Benz SS/SSK, as well as the first of many Porsche automobiles...
founded the company called "Dr. Ing. h. c. F. Porsche GmbH" in 1931, with main offices at Kronenstraße 24 in the centre of Stuttgart
Stuttgart
Stuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million ....
. Initially, the company offered motor vehicle development work and consulting, but did not build any cars under its own name. One of the first assignments the new company received was from the German government to design a car for the people, a . This resulted in the Volkswagen Beetle
Volkswagen Beetle
The Volkswagen Type 1, widely known as the Volkswagen Beetle or Volkswagen Bug, is an economy car produced by the German auto maker Volkswagen from 1938 until 2003...
, one of the most successful car designs of all time. The Porsche 64
Porsche 64
The Porsche 64, also known as the VW Aerocoupe, Type 64 and Type 60K10, is considered by many to be the first automobile from what was to become the Porsche company, as a true design precursor to the production model of after the war. The model number comes from the fact that it was built mainly...
was developed in 1939 using many components from the Beetle.
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, Volkswagen
Volkswagen
Volkswagen is a German automobile manufacturer and is the original and biggest-selling marque of the Volkswagen Group, which now also owns the Audi, Bentley, Bugatti, Lamborghini, SEAT, and Škoda marques and the truck manufacturer Scania.Volkswagen means "people's car" in German, where it is...
production turned to the military version of the Volkswagen Beetle, the Kübelwagen, 52,000 produced, and Schwimmwagen, 14,000 produced. Porsche produced several designs for heavy tank
Heavy tank
A heavy tank was a subset of tank that filled the heavy direct-fire role of many armies.Heavy tanks have usually been deployed to breakthrough enemy lines, though in practice have been more useful in the defensive role than in the attack...
s during the war, losing out to Henschel & Son
Henschel & Son
Henschel & Son was a German company, situated in Kassel, best known during the 20th century as a maker of transportation equipment, including locomotives, trucks, buses and trolleybuses, and armoured fighting vehicles and weapons....
in both contracts that ultimately led to the Tiger I
Tiger I
Tiger I is the common name of a German heavy tank developed in 1942 and used in World War II. The final official German designation was Panzerkampfwagen Tiger Ausf. E, often shortened to Tiger. It was an answer to the unexpectedly formidable Soviet armour encountered in the initial months of...
and the Tiger II
Tiger II
Tiger II is the common name of a German heavy tank of the Second World War. The final official German designation was Panzerkampfwagen Tiger Ausf. B,Panzerkampfwagen – abbr: Pz. or Pz.Kfw. Ausführung – abbr: Ausf. .The full titles Panzerkampfwagen Tiger Ausf...
. However, not all this work was wasted, as the chassis Porsche designed for the Tiger I was used as the base for the Elefant
Elefant
The Elefant was a "schwerer Panzerjäger" of the German Wehrmacht used in small numbers in World War II. It was built in 1943 under the name Ferdinand, after its designer Ferdinand Porsche. In 1944, after modification of the existing vehicles, they were renamed Elefant...
tank destroyer
Tank destroyer
A tank destroyer is a type of armored fighting vehicle armed with a gun or missile launcher, and is designed specifically to engage enemy armored vehicles...
. Porsche also developed the Maus
Panzer VIII Maus
Panzerkampfwagen VIII Maus was a German World War II super-heavy tank completed in late 1944. It is the heaviest fully enclosed armoured fighting vehicle ever built. Only two hulls and one turret were completed before the testing grounds were captured by the advancing Soviet forces.These two...
super-heavy tank
Super-heavy tank
Super-heavy tanks are armored vehicles of very large size, generally over 75 tonnes. Programs have been initiated on several occasions with the aim of creating an invincible vehicle for penetrating enemy formations without fear of being destroyed in combat; however, only a few examples have ever...
in the closing stages of the war, producing two prototypes.
At the end of WW2 in 1945, the Volkswagen factory at KdF-Stadt fell to the British. Ferdinand lost his position as Chairman of the Board of Management of Volkswagen, and a British Army Major – Ivan Hirst
Ivan Hirst
Major Ivan Hirst , was a British Army officer and engineer who was instrumental in reviving Volkswagen from a single factory in Wolfsburg, Germany, into a major postwar automotive manufacturer.-Education:...
was put in charge of the factory. (In Wolfsburg, the Volkswagen company magazine dubbed him "The British Major who saved Volkswagen.") On 15 December of that year, Ferdinand was arrested for war crimes, but not tried. During his 20-month imprisonment, Ferdinand Porsche's son, Ferry Porsche, decided to build his own car because he could not find an existing one that he wanted to buy. He also had to steer the company through some of its most difficult days until his father's release in August 1947. The first models of what was to become the 356
Porsche 356
The Porsche 356 was the company's first production automobile. It was a lightweight and nimble handling rear-engine rear-wheel-drive 2 door sports car available in hardtop coupe and open configurations. Design innovations continued during the years of manufacture, contributing to its motorsports...
were built in a small sawmill in Gmünd, Austria. The prototype car was shown to German auto dealers, and when pre-orders reached a set threshold, production was begun. Many regard the 356 as the first Porsche simply because it was the first model sold by the fledgling company. Porsche commissioned a Zuffenhausen-based company, Reutter Karosserie, which had previously collaborated with the firm on Volkswagen Beetle prototypes, to produce the 356's steel body. In 1952, Porsche constructed an assembly plant (Werk 2) across the street from Reutter Karosserie; the main road in front of Werk 1, the oldest Porsche building, is now known as Porschestrasse. The 356 was road certified in 1948.
Free People's State of Württemberg
The Free People's State of Württemberg was a state of Germany during the Weimar Republic in Württemberg.-1918 revolution:As Germany underwent violent revolution near the end of World War I, the Kingdom of Württemberg was transformed from a monarchy to a democratic republic without bloodshed; its...
of former Weimar Germany, which had Stuttgart as its capital and became part of Baden-Württemberg
Baden-Württemberg
Baden-Württemberg is one of the 16 states of Germany. Baden-Württemberg is in the southwestern part of the country to the east of the Upper Rhine, and is the third largest in both area and population of Germany's sixteen states, with an area of and 10.7 million inhabitants...
after the political consolidation of West Germany
West Germany
West Germany is the common English, but not official, name for the Federal Republic of Germany or FRG in the period between its creation in May 1949 to German reunification on 3 October 1990....
in 1949. Not long afterwards, on 30 January 1951, Ferdinand Porsche died from complications following a stroke.
Internal combustion engine
The internal combustion engine is an engine in which the combustion of a fuel occurs with an oxidizer in a combustion chamber. In an internal combustion engine, the expansion of the high-temperature and high -pressure gases produced by combustion apply direct force to some component of the engine...
, transmission
Transmission (mechanics)
A machine consists of a power source and a power transmission system, which provides controlled application of the power. Merriam-Webster defines transmission as: an assembly of parts including the speed-changing gears and the propeller shaft by which the power is transmitted from an engine to a...
, and suspension
Suspension (vehicle)
Suspension is the term given to the system of springs, shock absorbers and linkages that connects a vehicle to its wheels. Suspension systems serve a dual purpose — contributing to the car's roadholding/handling and braking for good active safety and driving pleasure, and keeping vehicle occupants...
. The 356, however, had several evolutionary stages, A, B, and C, while in production, and many Volkswagen parts were replaced by Porsche-made parts. The last 356s were powered by entirely Porsche-designed engines. The sleek bodywork was designed by Erwin Komenda
Erwin Komenda
Erwin Komenda ex Dr Ferdinand Porsche employee, helped in the design of the bodies for the VW Beetle and various Porsche sports cars....
who also had designed the body of the Beetle. Porsche's signature designs have, from the beginning, featured air-cooled rear-engine configurations (like the Beetle), rare for other car manufacturers, but producing automobiles that are very well balanced.
In 1964, after some success in motor-racing
Auto racing
Auto racing is a motorsport involving the racing of cars for competition. It is one of the world's most watched televised sports.-The beginning of racing:...
, namely with the Porsche 550 Spyder
Porsche 550
The Porsche 550 was a sports car produced by Porsche from 1953-1956.Inspired by the Porsche 356 which was created by Ferry Porsche, and some spyder prototypes built and raced by Walter Glöckler starting in 1951, the factory decided to build a car designed for use in auto racing. The model Porsche...
, the company launched the Porsche 911
Porsche 911
The Porsche 911 is a luxury 2-door sports coupe made by Porsche AG of Stuttgart, Germany. It has a distinctive design, rear-engined and with independent rear suspension, an evolution of the swing axle on the Porsche 356. The engine was also air-cooled until the introduction of the Type 996 in 1998...
another air-cooled
Air-cooled engine
Air-cooled engines rely on the circulation of air directly over hot parts of the engine to cool them.-Introduction:Most modern internal combustion engines are cooled by a closed circuit carrying liquid coolant through channels in the engine block and cylinder head, where the coolant absorbs heat,...
, rear-engined
Rear-engine design
In automobile design, a rear-engine design layout places the engine at the rear of the vehicle. The center of gravity of the engine itself is past the rear axle...
sports car, this time with a six-cylinder "boxer" engine
Flat engine
A flat engine is an internal combustion engine with multiple pistons that move in a horizontal plane. Typically, the layout has cylinders arranged in two banks on either side of a single crankshaft and is sometimes known as the boxer, or horizontally opposed engine. The concept was patented in 1896...
. The team to lay out the body shell design was led by Ferry Porsche's eldest son, Ferdinand Alexander Porsche
Ferdinand Alexander Porsche
Ferdinand Alexander Porsche , nicknamed "Butzi", son of Ferry Porsche, grandson of Ferdinand Porsche, is a German designer whose best known product is the first Porsche 911....
(F. A.). The design phase for the 911 caused internal problems with Erwin Komenda, who led the body design department until then. F. A. Porsche complained Komenda made unauthorized changes to the design. Company leader Ferry Porsche took his son's drawings to neighboring chassis manufacturer Reuter. Reuter's workshop was later acquired by Porsche (so-called Werk 2). Afterward Reuter became a seat manufacturer, today known as Keiper-Recaro
Recaro
RECARO GmbH & Co. KG, commonly known as Recaro, is a German company based in Kirchheim unter Teck in the vicinity of Stuttgart, known for their automobile bucket seats...
.
The design group gave sequential numbers to every project (356, 550, etc.), but the designated 901 nomenclature contravened Peugeot
Peugeot
Peugeot is a major French car brand, part of PSA Peugeot Citroën, the second largest carmaker based in Europe.The family business that precedes the current Peugeot company was founded in 1810, and manufactured coffee mills and bicycles. On 20 November 1858, Emile Peugeot applied for the lion...
's trademarks on all 'x0x' names, so it was adjusted to 911. Racing models adhered to the "correct" numbering sequence: 904, 906, 908. The 911 has become Porsche's most well-known and iconic model – successful on the race-track, in rallies
Rallying
Rallying, also known as rally racing, is a form of auto racing that takes place on public or private roads with modified production or specially built road-legal cars...
, and in terms of road car sales. Far more than any other model, the Porsche brand is defined by the 911. It remains in production; however, after several generations of revision, current-model 911s share only the basic mechanical concept of a rear-engined, six-cylinder coupé
Coupé
A coupé or coupe is a closed car body style , the precise definition of which varies from manufacturer to manufacturer, and over time...
, and basic styling cues with the original car. A cost-reduced model with the same body, but 356-derived running gear (including its four-cylinder engine), was sold as the 912.
In 1972, the company's legal form was changed from Kommanditgesellschaft
Kommanditgesellschaft
A Kommanditgesellschaft is the German name for a limited partnership business entity and is used in German, Austrian and some other European legal systems....
(KG), or limited partnership, to Aktiengesellschaft
Aktiengesellschaft
Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e. owned by shareholders, and may be traded on a stock market. The term is used in Germany, Austria and Switzerland...
(AG), or public limited company, because Ferry Porsche and his sister, Louise Piëch
Louise Piëch
Louise Piëch was the daughter of automotive pioneer Ferdinand Porsche. In 1928, she married Anton Piëch, a lawyer from Vienna who from 1941 to 1945 led the Volkswagen factory in Wolfsburg....
, felt their generation members did not team up well. This led to the foundation of an Executive Board whose members came from outside the Porsche family, and a Supervisory Board consisting mostly of family members. With this change, no family members were in operational charge of the company. F. A. Porsche founded his own design company, Porsche Design
Porsche Design Group
Porsche Design Group , based in Bietigheim-Bissingen, Germany, was founded in November 2003 by as a majority-owned subsidiary of Porsche AG to combine Porsche AG's and Porsche Design Group’s accessories and licensing business into one single company.Originally, there were five independently...
, which is renowned for exclusive sunglasses, watches, furniture, and many other luxury articles. Ferdinand Piëch
Ferdinand Piëch
Ferdinand Karl Piëch is an Austrian business magnate, engineer and executive who is currently the chairman of the supervisory board of Volkswagen Group....
, who was responsible for mechanical development of Porsche's serial and racing cars, formed his own engineering bureau, and developed a five-cylinder-inline diesel engine
Diesel engine
A diesel engine is an internal combustion engine that uses the heat of compression to initiate ignition to burn the fuel, which is injected into the combustion chamber...
for Mercedes-Benz
Mercedes-Benz
Mercedes-Benz is a German manufacturer of automobiles, buses, coaches, and trucks. Mercedes-Benz is a division of its parent company, Daimler AG...
. A short time later he moved to Audi
Audi
Audi AG is a German automobile manufacturer, from supermini to crossover SUVs in various body styles and price ranges that are marketed under the Audi brand , positioned as the premium brand within the Volkswagen Group....
, and pursued his career through the entire company, up to and including, the Volkswagen Group
Volkswagen Group
Volkswagen Group is a German multinational automobile manufacturing group. , Volkswagen was ranked as the world’s third largest motor vehicle manufacturer and Europe's largest....
boards.
Ernst Fuhrmann
Dr Ernst Fuhrmann was the chairman of Porsche AG between 1972 and 1980. He was a German citizen....
, who had been working in the company's engine development. Fuhrmann was responsible for the so-called Fuhrmann-engine used in the 356 Carrera models, as well as the 550 Spyder, having four overhead camshafts instead of a central camshaft with pushrods, as in the Volkswagen-derived serial engines. He planned to cease the 911 during the 1970s, and replace it with the V8
V8 engine
A V8 engine is a V engine with eight cylinders mounted on the crankcase in two banks of four cylinders, in most cases set at a right angle to each other but sometimes at a narrower angle, with all eight pistons driving a common crankshaft....
-front engined
Front-engine design
A front-mounted engine describes the placement of an automobile engine in front of the vehicle passenger compartment.Historically, this designation was used regardless of whether or not the entire engine was behind the front axle line...
grand sportswagon 928
Porsche 928
The Porsche 928 was a sports-GT car sold by Porsche AG of Germany from 1978 to 1995. Originally intended to replace the company's iconic 911, the 928 attempted to combine the power, poise, and handling of a sports car with the refinement, comfort, and equipment of a luxury sedan to create what some...
. As we know today, the 911 outlived the 928 by far. Fuhrmann was replaced in the early 1980s by Peter W. Schutz
Peter W. Schutz
Peter W. Schutz was the president and CEO of Porsche between 1981 and 1986, a time in which the company greatly expanded sales, primarily in the United States. Today he is a motivational speaker and co-founder of Harris and Schutz Inc., with his wife Sheila Harris-Schutz.-Early life and...
, an American manager and self-proclaimed 911 aficionado. He was then replaced in 1988 by the former manager of German computer company Nixdorf Computer AG, Arno Bohn, who made some costly miscalculations that led to his dismissal soon after, along with that of the development director, Dr. Ulrich Bez, who was formerly responsible for BMW's Z1
BMW Z1
The BMW Z1 was a two-seat roadster developed by BMW and produced from March 1989 to June 1991. The Z1 featured doors which dropped down into the door sills. A total of 8,000 cars were produced.-History:...
model, and today is CEO of Aston Martin
Aston Martin
Aston Martin Lagonda Limited is a British manufacturer of luxury sports cars, based in Gaydon, Warwickshire. The company name is derived from the name of one of the company's founders, Lionel Martin, and from the Aston Hill speed hillclimb near Aston Clinton in Buckinghamshire...
.
In 1990, Porsche drew up a memorandum of understanding with Toyota to learn and benefit from Japanese lean production methods. In 2004 it was reported that Toyota was assisting Porsche with hybrid technology
Hybrid electric vehicle
A hybrid electric vehicle is a type of hybrid vehicle and electric vehicle which combines a conventional internal combustion engine propulsion system with an electric propulsion system. The presence of the electric powertrain is intended to achieve either better fuel economy than a conventional...
.
Following the dismissal of Bohn, an interim CEO was appointed, longtime Porsche employee, Heinz Branitzki, who served in that position until Dr. Wendelin Wiedeking became CEO in 1993. Wiedeking took over the chairmanship of the board at a time when Porsche appeared vulnerable to a takeover by a larger company. During his long tenure, Wiedeking has transformed Porsche into a very efficient and profitable company.
Ferdinand Porsche's grandson, Ferdinand Piëch
Ferdinand Piëch
Ferdinand Karl Piëch is an Austrian business magnate, engineer and executive who is currently the chairman of the supervisory board of Volkswagen Group....
, was chairman and CEO of the Volkswagen Group
Volkswagen Group
Volkswagen Group is a German multinational automobile manufacturing group. , Volkswagen was ranked as the world’s third largest motor vehicle manufacturer and Europe's largest....
from 1993 to 2002. Today he is chairman of the Supervisory Board. With 12.8 percent of the Porsche voting shares, he also remains the second largest individual shareholder of Porsche AG after his cousin, F. A. Porsche, (13.6 percent).
Porsche's 2002 introduction of the Cayenne also marked the unveiling of a new production facility in Leipzig
Leipzig
Leipzig Leipzig has always been a trade city, situated during the time of the Holy Roman Empire at the intersection of the Via Regia and Via Imperii, two important trade routes. At one time, Leipzig was one of the major European centres of learning and culture in fields such as music and publishing...
, Saxony, which once accounted for nearly half of Porsche's annual output. In 2004, production of the 456 kW Carrera GT commenced in Leipzig, and at EUR 450,000 ($440,000 in the United States) it was the most expensive production model Porsche ever built.
As of 2005, the extended Porsche and Piëch families controlled all of Porsche AG's voting shares. In early October 2005 the company announced acquisition of an 18.53% stake in Volkswagen AG (VW AG), and disclosed intentions to acquire additional VW AG shares in the future. As of June 2006, the Porsche AG stake in VW AG had risen to 25.1%, giving Porsche a blocking minority, whereby Porsche can veto large corporate decisions undertaken by VW AG.
In mid-2006, after years of the Boxster (and later the Cayenne) as the dominant Porsche in North America, the 911 regained its position as Porsche's backbone in the region. The Cayenne and 911 have cycled as the top-selling model since. In Germany the 911 clearly outsells the Boxster/Cayman and Cayenne.
Relationship with Volkswagen
The company has always had a close relationship with, initially, the VolkswagenVolkswagen
Volkswagen is a German automobile manufacturer and is the original and biggest-selling marque of the Volkswagen Group, which now also owns the Audi, Bentley, Bugatti, Lamborghini, SEAT, and Škoda marques and the truck manufacturer Scania.Volkswagen means "people's car" in German, where it is...
(VW) marque, and later, the Volkswagen Group
Volkswagen Group
Volkswagen Group is a German multinational automobile manufacturing group. , Volkswagen was ranked as the world’s third largest motor vehicle manufacturer and Europe's largest....
(which also owns AUDI AG
Audi
Audi AG is a German automobile manufacturer, from supermini to crossover SUVs in various body styles and price ranges that are marketed under the Audi brand , positioned as the premium brand within the Volkswagen Group....
), because the first Volkswagen Beetle
Volkswagen Beetle
The Volkswagen Type 1, widely known as the Volkswagen Beetle or Volkswagen Bug, is an economy car produced by the German auto maker Volkswagen from 1938 until 2003...
was designed by Ferdinand Porsche
Ferdinand Porsche
Ferdinand Porsche was an Austrian automotive engineer and honorary Doctor of Engineering. He is best known for creating the first hybrid vehicle , the Volkswagen Beetle, and the Mercedes-Benz SS/SSK, as well as the first of many Porsche automobiles...
. The two companies collaborated in 1969 to make the VW-Porsche 914 and 914-6
Porsche 914
The Porsche 914 or VW-Porsche 914 is a mid-engined, targa-topped two-seat roadster designed, manufactured and marketed collaboratively by Volkswagen and Porsche from 1969 to 1976.- Development :...
, whereby the 914-6 had a Porsche engine, and the 914 had a Volkswagen engine, in 1976 with the Porsche 912
Porsche 912
The Porsche 912 is a sports car that was manufactured by Porsche of Germany between 1965 and 1969 as their entry-level model. The 912 is a nimble-handling compact performance four-seat vehicle, delivering 90 SAE horsepower at 5800 rpm. It is capable of up to fuel economy. This combination is...
E (USA only) and the Porsche 924
Porsche 924
The Porsche 924 is an automobile produced by Porsche AG of Germany from 1976 to 1988. A two-door, 2+2 coupé, the 924 replaced the 914 as the company's entry-level model, and was the model that finally retired the 912. In production terms, the 924 was the first Porsche model powered by a...
, which used many Audi components, and was built at Audi's Neckarsulm
Neckarsulm
Neckarsulm is a city in northern Baden-Württemberg, Germany, near Stuttgart, and part of the district Heilbronn. As of 2004, Neckarsulm had 27,296 inhabitants....
factory. Porsche 944
Porsche 944
The Porsche 944 is a sports car built by Porsche from 1982 to 1991. It was built on the same platform as the 924, although 924 production continued through 1988. The 944 was intended to last into the 1990s, but major revisions planned for a 944 S3 model were eventually rolled into the 968 instead,...
s were also built there, although they used far fewer Volkswagen components. The Cayenne, introduced in 2002, shares its entire chassis with Volkswagen Touareg
Volkswagen Touareg
The Volkswagen Touareg is a mid-size crossover SUV produced by German automaker Volkswagen since 2002. The vehicle was named after the Tuareg people, a Berber-speaking group in North Africa...
and Audi Q7
Audi Q7
The Audi Q7 is a full-size luxury crossover SUV unveiled in September 2005 at the Frankfurt Motor Show. Production of the Q7 began in autumn of 2005 in Bratislava, Slovakia. It is the first SUV offering from Audi and went on sale in 2007. Later, Audi's second SUV, the Q5, was unveiled as a 2009...
, which is built at the Volkswagen Group factory in Bratislava
Bratislava
Bratislava is the capital of Slovakia and, with a population of about 431,000, also the country's largest city. Bratislava is in southwestern Slovakia on both banks of the Danube River. Bordering Austria and Hungary, it is the only national capital that borders two independent countries.Bratislava...
. In late 2005, Porsche took an 18.65% stake in the Volkswagen Group, further cementing their relationship, and preventing a takeover of Volkswagen Group, which was rumoured at the time. Speculated suitors included DaimlerChrysler AG, BMW
BMW
Bayerische Motoren Werke AG is a German automobile, motorcycle and engine manufacturing company founded in 1916. It also owns and produces the Mini marque, and is the parent company of Rolls-Royce Motor Cars. BMW produces motorcycles under BMW Motorrad and Husqvarna brands...
, and Renault
Renault
Renault S.A. is a French automaker producing cars, vans, and in the past, autorail vehicles, trucks, tractors, vans and also buses/coaches. Its alliance with Nissan makes it the world's third largest automaker...
.
On 26 March 2007, Porsche took its holding of Volkswagen AG shares to 30.9%, triggering a takeover bid under German Law
Law of Germany
The modern German legal system is a system of law which is founded on the principles laid out by the Basic Law for the Federal Republic of Germany, though many of the most important laws as for example most regulations of the civil code were developed prior to the 1949 constitution...
. Porsche then formally announced in a press statement that it did not intend to take over Volkswagen Group (it would set its offer price at the lowest possible legal value), but intended the move to avoid a competitor taking a large stake, or to stop hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
s dismantling Volkswagen Group, which is Porsche's most important partner. Porsche's move comes after the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
moved against a German Law that protected Volkswagen AG from takeovers. Under the so-called "Volkswagen Law", any shareholder with more than 20% of the voting rights has veto power over any corporate decision in the annual general meeting – in effect, any shareholder in VW AG cannot exercise more than 20% of the firm's voting rights, regardless of their level of stock holding. (The local state government of Lower Saxony
Lower Saxony
Lower Saxony is a German state situated in north-western Germany and is second in area and fourth in population among the sixteen states of Germany...
owns 20.1% of the shares.) However, the European Court of Justice
European Court of Justice
The Court can sit in plenary session, as a Grand Chamber of 13 judges, or in chambers of three or five judges. Plenary sitting are now very rare, and the court mostly sits in chambers of three or five judges...
ruled against the law, potentially paving the way for a takeover.
On 16 September 2008, Porsche increased its shares by another 4.89%, in effect taking control of the company, with more than 35% of the voting rights. It again triggered a takeover bid, but this time over Audi. Porsche dismissed the bid as a mere formality, since it is Porsche's intention to keep the corporate structure of the Volkswagen Group.
There has been some tension and anxiety amongst the Volkswagen Group workers, who fear that a Porsche takeover might signify a hardened production efficiency control, rejection of demands for payment rises or even personnel cuts. Ferdinand Piëch
Ferdinand Piëch
Ferdinand Karl Piëch is an Austrian business magnate, engineer and executive who is currently the chairman of the supervisory board of Volkswagen Group....
and his cousin, Wolfgang Porsche, also seemed to be on a collision course.
On 13 August 2009, Volkswagen AG's Supervisory Board signed the agreement to create an "integrated automotive group" with Porsche, led by Volkswagen AG. Volkswagen will initially take a 49.9 percent stake in Porsche AG by the end of 2009, and it will also see the family shareholders selling the automobile trading business of Porsche Holding Salzburg to Volkswagen AG.
Corporate restructuring
Through the Volkswagen AG stake acquisition, Porsche reformed the company's structure, with Dr Ing. h. c. F. Porsche AG becoming a holding companyHolding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, renamed "Porsche Automobil Holding SE", and a new Dr Ing. h. c. F. Porsche AG operating company being formed in 2007. Thus the operating activities are separated from holding activities of the company. There was an Extraordinary General Meeting
Extraordinary General Meeting
An extraordinary general meeting, commonly abbreviated as EGM, is a meeting of members of an organisation, shareholders of a company, or employees of an official body, which occurs at an irregular time. The term is usually used where the group would ordinarily hold an annual general meeting , but...
(EGM) for Porsche AG shareholders which took place on 26 June 2007, at the Porsche Arena in Stuttgart
Stuttgart
Stuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million ....
, Germany to discuss the change to the company structure.
In the late 2009 VW (Also owned by AUDI) bought the controlling rights to Porsche. T
On 3 March 2007, Porsche set the stage for obtaining a plurality stake in the Volkswagen AG. One day later Porsche sought to allay fears it would attempt to force a merger
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
with Volkswagen Group. By September, Porsche owned a 35.14% plurality stake in Volkswagen AG, effectively giving it control over the company. Volkswagen Group expected the move, and welcomed Porsche's investment.
In October 2008, Porsche announced its intent to raise its stake in Volkswagen AG to 75% during 2009, and on 7 January 2009, Porsche's holding in VW AG was raised to 50.76%. Porsche's move automatically triggered a bid for Scania AB, because VW AG already had a controlling position in the Swedish truck-maker. As Porsche had no strategic interest in the company, on 19 January, they offered the minimum price in that mandatory takeover bid. Porsche SE owned 50.8 percent of Volkswagen Group as of 5 January 2009, and has said it plans to lift the stake to 75 percent before the end of 2009, at that level they could bring VW AG's cash onto Porsche's books.
By March 2009, Porsche SE was aiming for its first ever credit ratings from U.S. rating agencies Standard & Poor's
Standard & Poor's
Standard & Poor's is a United States-based financial services company. It is a division of The McGraw-Hill Companies that publishes financial research and analysis on stocks and bonds. It is well known for its stock-market indices, the US-based S&P 500, the Australian S&P/ASX 200, the Canadian...
and Moody's
Moody's
Moody's Corporation is the holding company for Moody's Analytics and Moody's Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The company also ranks the credit-worthiness of borrowers using a standardized...
.
In its efforts to acquire a majority holding in Volkswagen AG, Porsche built up a large debt burden, aggravated by taxes due on very large paper profits from Volkswagen AG options. By July 2009, Porsche was faced with debts exceeding 10 billion euros. The supervisory board of Porsche finally agreed to a number of arrangements whereby the Qatar Investment Authority
Qatar Investment Authority
The Qatar Investment Authority is Qatar's sovereign wealth fund, specializing in domestic and foreign investment. It was founded in 2005 to manage the oil and natural gas surpluses by the Government of Qatar...
would inject a large amount of capital, and Porsche would be merged
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
with Volkswagen Group. On 23 July 2009, Michael Macht
Michael Macht
Michael Macht was the CEO of the German car manufacturer Porsche. He was previously head of production on the management board and was appointed chairman of the management board of Porsche AG and Porsche Automobil Holding on 23 July 2009...
was appointed CEO, to replace Wendelin Wiedeking
Wendelin Wiedeking
Dr. Wendelin Wiedeking is the former President and Chief Executive Officer of the German car manufacturer, Porsche AG, a post he held from 1993 through July 23, 2009...
, who is expected to receive a compensation package of 50 million euros.
In July 2010, Porsche appointed Volkswagen executive Matthias Müller
Matthias Müller (businessman)
Matthias Müller is a German manager at Volkswagen AG, and CEO of Porsche AG.After graduating from school in Ingolstadt, Müller finished an apprenticeship as a toolmaker at Audi in 1977. He then studied computer science in Munich, returning to Audi and taking a junior managers position in the IT...
to its new CEO position, moving Michael Mauer to another executive position within Volkswagen AG.
New U.S. Headquarters and Customer Experience Center
In May 2011, Porsche North America announced plans to spend $80-100 million - but will receive about $15 million in economic incentives - to move their North American headquarters from Sandy Springs, a suburb of Atlanta, to Aerotropolis AtlantaAerotropolis Atlanta
Aerotropolis Atlanta is a planned mixed-use development in Hapeville, Georgia on the site of the former Ford Atlanta Assembly Plant. The site is directly adjacent to Hartsfield-Jackson International Airport. The complex is to house offices, retail, and entertainment.The plant was purchased for over...
, a new mixed-use development on the site of the old Ford Hapeville plant
Atlanta Assembly
Atlanta Assembly was an automobile factory owned by Ford Motor Company in Hapeville, Georgia. Harbour Consulting rated it as the most efficient auto plant in North America in 2006...
adjacent to Atlanta's airport. Designed by architectural firm HOK
Hellmuth, Obata and Kassabaum
HOK is a global architecture, interiors, engineering, planning and consulting firm. HOK is the largest U.S.-based architecture-engineering firm and the "No. 1 role model for sustainable and high-performance design." HOK also is the second-largest interior design firm...
, the headquarters will include a new office building and test track.
Production and sales
The headquarters and main factory are located in Zuffenhausen, a district in StuttgartStuttgart
Stuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million ....
, but the Cayenne and Panamera models are manufactured in Leipzig
Leipzig
Leipzig Leipzig has always been a trade city, situated during the time of the Holy Roman Empire at the intersection of the Via Regia and Via Imperii, two important trade routes. At one time, Leipzig was one of the major European centres of learning and culture in fields such as music and publishing...
, Germany, and parts for the SUV are also assembled in the Volkswagen Touareg
Volkswagen Touareg
The Volkswagen Touareg is a mid-size crossover SUV produced by German automaker Volkswagen since 2002. The vehicle was named after the Tuareg people, a Berber-speaking group in North Africa...
factory in Bratislava
Bratislava
Bratislava is the capital of Slovakia and, with a population of about 431,000, also the country's largest city. Bratislava is in southwestern Slovakia on both banks of the Danube River. Bordering Austria and Hungary, it is the only national capital that borders two independent countries.Bratislava...
, Slovakia. Boxster and Cayman production was outsourced to Valmet Automotive
Valmet Automotive
Valmet Automotive is a Finnish car maker. The majority of company is owned by Metso . Valmet Automotive is a contract manufacturer of specialty automobiles.-Production:...
in Finland from 1997 to 2011, after which when assembly was moved back to the German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
homeland.
The company has been highly successful in recent times, and indeed claims to have the highest profit per unit sold of any car company in the world.
Table of profits (in millions of euros) and number of cars produced. Figures from 2008/9 onwards were not reported as part of Porsche SE.
| year ending | revenue | pre-tax profit | production | sales |
|---|---|---|---|---|
| 31 July 2002 | €4,857m | €829m | 55,050 | 54,234 |
| 31 July 2003 | €5,583m | €933m | 73,284 | 66,803 |
| 31 July 2004 | €6,148m | €1,137m | 81,531 | 76,827 |
| 31 July 2005 | €6,574m | €1,238m | 90,954 | 88,379 |
| 31 July 2006 | €7,273m | €2,110m | 102,602 | 96,794 |
| 31 July 2007 | €7,368m | €5,857m | 101,844 | 97,515 |
| 31 July 2008 | €7,466m | €8,569m | 105,162 | 98,652 |
Production split
Of the 105,162 cars produced in the 2007/8 financial year, 34,303 (32.6%) were 911 models, 22,356 (21.3%) were Boxster and Cayman cars and 48,497 (46.1%) were Cayennes. There were 3 Panamera and 3 Carrera GT models also reported. The production figures of sports cars was quite similar to the 2001/2 totals when 33,061 Porsche 911 and 21,989 Boxsters were produced.Sales
In 2008, Porsche reported selling a total of 98,652 cars, 13,524 (13.7%) as domestic German sales, and 85,128 (86.3%) internationally.North American sales
| model | 2003 | 2004 | 2005 | |||
|---|---|---|---|---|---|---|
| units | % of total | units | % of total | units | % of total | |
| 911 Porsche 911 The Porsche 911 is a luxury 2-door sports coupe made by Porsche AG of Stuttgart, Germany. It has a distinctive design, rear-engined and with independent rear suspension, an evolution of the swing axle on the Porsche 356. The engine was also air-cooled until the introduction of the Type 996 in 1998... (996) Porsche 996 The Porsche 996 is the internal designation for the Porsche 911 model manufactured and sold between 1998 and 2005. It has since been replaced by the Type 997... |
9,935 ( 18%) | 33% | 10,227 ( 3%) | 31% | 10,653 ( 4%) | 31% |
| Boxster Porsche Boxster The Porsche Boxster is a mid-engined roadster built by Porsche. The Boxster is Porsche's first road vehicle to be originally designed as a roadster since the 550 Spyder.... |
6,432 ( 38%) | 21% | 3,728 ( 42%) | 11% | 8,327 ( 123%) | 25% |
| Cayenne Porsche Cayenne The Porsche Cayenne is a five seat mid-size luxury crossover manufactured by the German manufacturer Porsche since 2002, with North American sales beginning in 2003. Its platform was developed by Porsche and is shared with the Volkswagen Touareg and the Audi Q7. It is the first V8-engined vehicle... |
13,661 | 45% | 19,134 ( 40%) | 57% | 14,524 ( 24%) | 43% |
| total | 30,028 ( 33%) | 33,289 ( 11%) | 33,859 ( 2%) | |||
| model | 2006 | 2007 | 2008 | |||
|---|---|---|---|---|---|---|
| units | % of total | units | % of total | units | % of total | |
| 911 Porsche 911 The Porsche 911 is a luxury 2-door sports coupe made by Porsche AG of Stuttgart, Germany. It has a distinctive design, rear-engined and with independent rear suspension, an evolution of the swing axle on the Porsche 356. The engine was also air-cooled until the introduction of the Type 996 in 1998... (997) Porsche 997 The Porsche Type 997 , also simply called the 997 is the current version of the 911 family sports car built by German manufacturer Porsche in Stuttgart-Zuffenhausen... |
12,702 ( 19%) | 35% | 13,153 ( 4%) | 36% | 8,324 ( 37%) | 30% |
| Boxster Porsche Boxster The Porsche Boxster is a mid-engined roadster built by Porsche. The Boxster is Porsche's first road vehicle to be originally designed as a roadster since the 550 Spyder.... |
4,850 ( 42%) | 14% | 3,904 ( 24%) | 11% | 2,982 ( 24%) | 11% |
| Cayman Porsche Cayman The Porsche Cayman is a mid-engined, rear wheel drive 2-seat sports car produced by Porsche AG of Germany. First launched in the 2006 model year, the Cayman is a coupé derived from Porsche's second generation Boxster convertible. Like the Boxster, most Caymans were assembled in Finland for Porsche... |
7,313 | 20% | 6,249 ( 17%) | 17% | 3,513 ( 44%) | 13% |
| Cayenne Porsche Cayenne The Porsche Cayenne is a five seat mid-size luxury crossover manufactured by the German manufacturer Porsche since 2002, with North American sales beginning in 2003. Its platform was developed by Porsche and is shared with the Volkswagen Touareg and the Audi Q7. It is the first V8-engined vehicle... |
11,141 ( 23%) | 31% | 13,370 ( 20%) | 36% | 12,898 ( 4%) | 46% |
| total | 36,095 ( 7%) | 36,680 ( 2%) | 27,717 ( 24%) | |||
| model | 2009 | 2010 | ||
|---|---|---|---|---|
| units | % of total | units | % of total | |
| 911 Porsche 911 The Porsche 911 is a luxury 2-door sports coupe made by Porsche AG of Stuttgart, Germany. It has a distinctive design, rear-engined and with independent rear suspension, an evolution of the swing axle on the Porsche 356. The engine was also air-cooled until the introduction of the Type 996 in 1998... (997) Porsche 997 The Porsche Type 997 , also simply called the 997 is the current version of the 911 family sports car built by German manufacturer Porsche in Stuttgart-Zuffenhausen... |
6,839 ( 17.8%) | 35.00% | 5,735 ( 16.1%) | 22.65% |
| Boxster Porsche Boxster The Porsche Boxster is a mid-engined roadster built by Porsche. The Boxster is Porsche's first road vehicle to be originally designed as a roadster since the 550 Spyder.... |
1,909 ( 36.0%) | 9.69% | 2,177 ( 14.0%) | 8.60% |
| Cayman Porsche Cayman The Porsche Cayman is a mid-engined, rear wheel drive 2-seat sports car produced by Porsche AG of Germany. First launched in the 2006 model year, the Cayman is a coupé derived from Porsche's second generation Boxster convertible. Like the Boxster, most Caymans were assembled in Finland for Porsche... |
1,966 ( 44.0%) | 9.98% | 1,322 ( 32.8%) | 5.22% |
| Panamera Porsche Panamera The Porsche Panamera is a four-door a coupe. It is front-engined with rear-wheel drive, with four-wheel drive versions also available.... |
1,247 | 6.33% | 7,741 ( 520.8%) | 30.57% |
| Cayenne Porsche Cayenne The Porsche Cayenne is a five seat mid-size luxury crossover manufactured by the German manufacturer Porsche since 2002, with North American sales beginning in 2003. Its platform was developed by Porsche and is shared with the Volkswagen Touareg and the Audi Q7. It is the first V8-engined vehicle... |
7,735 ( 31.0%) | 39.27% | 8,343 ( 7.9%) | 32.94% |
| total | 19,696 ( 24.3%) | 25,320 ( 28.6%) | ||
Models
The current Porsche model rangeCar model
An automobile model is a particular brand of vehicle sold under a marque by a manufacturer, usually within a range of models, usually of different sizes or capabilities...
includes sports cars from the Boxster
Porsche Boxster
The Porsche Boxster is a mid-engined roadster built by Porsche. The Boxster is Porsche's first road vehicle to be originally designed as a roadster since the 550 Spyder....
roadster
Roadster
A roadster is a two-seat open car with emphasis on sporty handling and without a fixed roof or side weather protection. Strictly speaking a roadster with wind-up windows is a convertible but as true roadsters are no longer made the distinction is now irrelevant...
to their most famous product, the 911
Porsche 911
The Porsche 911 is a luxury 2-door sports coupe made by Porsche AG of Stuttgart, Germany. It has a distinctive design, rear-engined and with independent rear suspension, an evolution of the swing axle on the Porsche 356. The engine was also air-cooled until the introduction of the Type 996 in 1998...
. The Cayman
Porsche Cayman
The Porsche Cayman is a mid-engined, rear wheel drive 2-seat sports car produced by Porsche AG of Germany. First launched in the 2006 model year, the Cayman is a coupé derived from Porsche's second generation Boxster convertible. Like the Boxster, most Caymans were assembled in Finland for Porsche...
is a hard top car similar to the Boxster. The Cayenne
Porsche Cayenne
The Porsche Cayenne is a five seat mid-size luxury crossover manufactured by the German manufacturer Porsche since 2002, with North American sales beginning in 2003. Its platform was developed by Porsche and is shared with the Volkswagen Touareg and the Audi Q7. It is the first V8-engined vehicle...
is Porsche's mid-size luxury sport utility vehicle
Sport utility vehicle
A sport utility vehicle is a generic marketing term for a vehicle similar to a station wagon, but built on a light-truck chassis. It is usually equipped with four-wheel drive for on- or off-road ability, and with some pretension or ability to be used as an off-road vehicle. Not all four-wheel...
(SUV). A high performance luxury saloon/sedan, the Panamera, was launched in 2009.
- Note: models in bold are current models
Consumer models
- 356Porsche 356The Porsche 356 was the company's first production automobile. It was a lightweight and nimble handling rear-engine rear-wheel-drive 2 door sports car available in hardtop coupe and open configurations. Design innovations continued during the years of manufacture, contributing to its motorsports...
- 911Porsche 911The Porsche 911 is a luxury 2-door sports coupe made by Porsche AG of Stuttgart, Germany. It has a distinctive design, rear-engined and with independent rear suspension, an evolution of the swing axle on the Porsche 356. The engine was also air-cooled until the introduction of the Type 996 in 1998...
4-seat coupeCoupéA coupé or coupe is a closed car body style , the precise definition of which varies from manufacturer to manufacturer, and over time...
, targaTargaTarga is an old word for targe, shield. Targa or TARGA may also refer to:Car rallies*Targa Florio, Sicily, Italy*Targa Canada West, Canada*Targa New Zealand*Targa Newfoundland, Canada*Targa Tasmania, Australia*Targa West, Western Australia...
and cabriolet - 912Porsche 912The Porsche 912 is a sports car that was manufactured by Porsche of Germany between 1965 and 1969 as their entry-level model. The 912 is a nimble-handling compact performance four-seat vehicle, delivering 90 SAE horsepower at 5800 rpm. It is capable of up to fuel economy. This combination is...
- 914Porsche 914The Porsche 914 or VW-Porsche 914 is a mid-engined, targa-topped two-seat roadster designed, manufactured and marketed collaboratively by Volkswagen and Porsche from 1969 to 1976.- Development :...
- 924Porsche 924The Porsche 924 is an automobile produced by Porsche AG of Germany from 1976 to 1988. A two-door, 2+2 coupé, the 924 replaced the 914 as the company's entry-level model, and was the model that finally retired the 912. In production terms, the 924 was the first Porsche model powered by a...
- 928Porsche 928The Porsche 928 was a sports-GT car sold by Porsche AG of Germany from 1978 to 1995. Originally intended to replace the company's iconic 911, the 928 attempted to combine the power, poise, and handling of a sports car with the refinement, comfort, and equipment of a luxury sedan to create what some...
4-seat grand tourerGrand tourerA grand tourer is a high-performance luxury automobile designed for long-distance driving. The most common format is a two-door coupé with either a two-seat or a 2+2 arrangement.... - 930Porsche 930The 930 was a sports car built by Porsche, 930 actually being the "type number" for the pre-964 generation 911 Turbo produced between 1975 and 1989...
- 944Porsche 944The Porsche 944 is a sports car built by Porsche from 1982 to 1991. It was built on the same platform as the 924, although 924 production continued through 1988. The 944 was intended to last into the 1990s, but major revisions planned for a 944 S3 model were eventually rolled into the 968 instead,...
- 959Porsche 959The Porsche 959 is a sports car manufactured by Porsche from 1986 to 1989, first as a Group B rally car and later as a legal production car designed to satisfy FIA homologation regulations requiring that a minimum number of 200 street legal units be built....
- 968Porsche 968The 968 is a sports car sold by Porsche AG from 1992 to 1995. It took over the entry-level position in Porsche's lineup from the 944, with which it shared about 20% of its parts...
- 911 GT1 StraßenversionPorsche 911 GT1The Porsche 911 GT1 was a car designed for competition in the GT1 class of sportscar racing, which also required a street legal version for homologation purposes...
- BoxsterPorsche BoxsterThe Porsche Boxster is a mid-engined roadster built by Porsche. The Boxster is Porsche's first road vehicle to be originally designed as a roadster since the 550 Spyder....
2-seat roadsterRoadsterA roadster is a two-seat open car with emphasis on sporty handling and without a fixed roof or side weather protection. Strictly speaking a roadster with wind-up windows is a convertible but as true roadsters are no longer made the distinction is now irrelevant... - CaymanPorsche CaymanThe Porsche Cayman is a mid-engined, rear wheel drive 2-seat sports car produced by Porsche AG of Germany. First launched in the 2006 model year, the Cayman is a coupé derived from Porsche's second generation Boxster convertible. Like the Boxster, most Caymans were assembled in Finland for Porsche...
2-seat coupe - CayennePorsche CayenneThe Porsche Cayenne is a five seat mid-size luxury crossover manufactured by the German manufacturer Porsche since 2002, with North American sales beginning in 2003. Its platform was developed by Porsche and is shared with the Volkswagen Touareg and the Audi Q7. It is the first V8-engined vehicle...
SUV - Carrera GTPorsche Carrera GTThe Porsche Carrera GT is a mid-engined sports car that was manufactured by Porsche in Leipzig, Germany.- History :The development of the Carrera GT can be traced back to the 911 GT1 and LMP1-98 racing cars. Due in part to the FIA and ACO rule changes in 1998, both designs had ended. Porsche at...
- PanameraPorsche PanameraThe Porsche Panamera is a four-door a coupe. It is front-engined with rear-wheel drive, with four-wheel drive versions also available....
4-seat sports sedan - 918 SpyderPorsche 918 SpyderThe Porsche 918 Spyder is a mid-engined sports car designed by Porsche and first shown as a concept at the 80th edition of the Geneva Motor Show in March 2010. The Spyder is powered by a 3.4 litre V8 engine, developing , with three electric motors delivering an additional . It is the first plug-in...
Racing models
- 64Porsche 64The Porsche 64, also known as the VW Aerocoupe, Type 64 and Type 60K10, is considered by many to be the first automobile from what was to become the Porsche company, as a true design precursor to the production model of after the war. The model number comes from the fact that it was built mainly...
- 360 CisitaliaPorsche 360Porsche 360 Cisitalia is an automobile from Porsche introduced in 1949. The name Cisitalia is the name of the company that ordered the model.-History:The car was commissioned by Piero Dusio in 1946...
- 550 SpyderPorsche 550The Porsche 550 was a sports car produced by Porsche from 1953-1956.Inspired by the Porsche 356 which was created by Ferry Porsche, and some spyder prototypes built and raced by Walter Glöckler starting in 1951, the factory decided to build a car designed for use in auto racing. The model Porsche...
- 718Porsche 718The Porsche 718 is an open-cockpit racing car build by Porsche between 1957 and 1962.The 718 was a development of the already successful 550A with improvements being made to the body work and suspension. The new front frame resembled the letter K if viewed from the front and this led to the car...
- 787Porsche 787The Porsche 787 was a Formula Two racing car built in 1960, based on the 1500 RS-K race sports car.Built to the 1960 Formula Two formula, the Type 787 was driven by such notables as Wolfgang von Trips and Dan Gurney to victory and obtaining the unofficial "Coupe des Constructeurs" — Formula Two's...
- 804Porsche 804The Porsche 804 was a Formula One racing car produced in , following the 718 and 787.The flat-8 air-cooled engine powered car developed 180 hp at 9,200 rpm gave Porsche its only F1 wins as a chassis maker, at the 1962 French Grand Prix, and at the Solituderennen at Castle Solitude in Stuttgart,...
- 904Porsche 904The Porsche 904 is an automobile which was produced by Porsche in Germany in 1964 and 1965. It was officially called Porsche Carrera GTS due to the same naming rights problem that required renaming the Porsche 901 to Porsche 911.- History :...
- 906Porsche 906The Porsche 906 or Carrera 6 was the last street-legal racing car from Porsche. It was announced in January 1966 and 50 examples were subsequently produced, thus meeting the homologation requirements of the FIA's new Group 4 Sports Car category to the letter...
- 907Porsche 907The Porsche 907 was a sportscar racing prototype built by Porsche in 1967 and 1968.- 1967 :The 907 was introduced at the 1967 24 Hours of Le Mans...
- 908Porsche 908The Porsche 908 was a racing car from Porsche, introduced in 1968 to continue the Porsche 906/Porsche 910/Porsche 907 series of models designed under Ferdinand Piech....
- 909 BergspyderPorsche 909The Porsche 909 "Bergspyder" was a spyder sports car designed and built by Porsche in 1968 specifically for competing in hillclimbing competitions...
- 910Porsche 910The Porsche 910 or Carrera 10 was a race car from Porsche, based upon the Porsche 906. 15 were produced and entered in 1966 and 1967. The factory name for the 910 was the 906/10. The 910 was considered the next sequence in the 906 line...
- 917Porsche 917The Porsche 917 is a racecar that gave Porsche its first overall wins at the 24 Hours of Le Mans in 1970 and 1971. Powered by the Type 912 flat-12 engine of 4.5, 4.9, or 5 litres, the 917/30 variant was capable of a 0- time of 2.3 seconds, 0– in 5.3 seconds, and a top speed of over .There are 6...
- 934Porsche 934The Porsche 934 was a racing version of the Porsche 911 Turbo, prepared to FIA Group 4 rules, similar to the Porsche 935 which was prepared to FIA Group 5 rules.-History:...
- 935Porsche 935The Porsche 935 was introduced in 1976, as the factory racing version of the Porsche 911 turbo prepared for FIA-Group 5 rules. It was an evolution of the Porsche Carrera RSR 2.1 turbo prototype which had scored 2nd overall in the 1974 24 Hours of Le Mans....
- 936Porsche 936The Porsche 936 was a racing car introduced in 1976 by Porsche as a delayed successor to the Porsche 908, a three litre sportscar prototype which was retired by the factory after 1971...
- 956Porsche 956The Porsche 956 was a Group C sports-prototype racing car designed by Norbert Singer and built by Porsche in 1982 for the FIA World Sportscar Championship...
- 961Porsche 961The Porsche 961 was a racing car built by Porsche and based on their 959 sports car. It was intended for Group B sports car racing, complementing the purpose-built 956 and 962C which ran Group C in the World Sports-Prototype Championship. The 961 project was short lived, running only three races...
- 962Porsche 962The Porsche 962 was a sports-prototype racing car built by Porsche as a replacement for the 956 and designed mainly to comply with IMSA's GTP regulations, although it would later compete in the European Group C formula as the 956 had...
- Porsche-March 89P
- WSC-95 / LMP1-98Porsche WSC-95The Porsche WSC-95 was a Le Mans Prototype built for Porsche by Tom Walkinshaw Racing and run by Joest Racing, yet can trace its origin to a Jaguar sports car designed in 1991...
- LMP2000 (never raced)
- RS Spyder (9R6)Porsche RS SpyderThe RS Spyder is a racing car designed by Porsche to compete in Le Mans Prototype Class 2 racing. The car takes its name from the legendary 550 Spyder of the 1950s...
- Porsche Le Mans 2014 Project
Prototypes and concept cars
- Porsche 114Porsche 114The Porsche 114 was a proposed design for a sports car powered by a 1493 cc V10 engine.-History:After designing the Volkswagen for the German government's KDF program Ferdinand Porsche considered building a sports car version of the VW...
- Porsche 356/1Porsche 356/1The Porsche 356/1 was the first real Porsche car created by Ferdinand "Ferry" Porsche. This prototype car was a two-seater open roadster with a mid-mounted, air-cooled flat-4 engine of 1,131 cc displacement that produced...
- Porsche 695Porsche 695The Porsche 695, also known as the T7 prototype, is an automobile from Porsche. It was a prototype made in 1961 and later became the Porsche 911. The front end is very similar to the 911, but the rear is somewhat different. The 695 was developed from the Porsche 356 by Ferdinand Alexander...
(911 prototype) - Porsche 901Porsche 901Porsche 901 was the name originally intended for the Porsche 911.By the early 1960s, Porsche project design numbers had reached into the 19th century. For instance, Porsche's 1962 F1 model was called Porsche 804....
(911 prototype) - Porsche 916 (flat-6 914)
- Porsche 918 SpyderPorsche 918 SpyderThe Porsche 918 Spyder is a mid-engined sports car designed by Porsche and first shown as a concept at the 80th edition of the Geneva Motor Show in March 2010. The Spyder is powered by a 3.4 litre V8 engine, developing , with three electric motors delivering an additional . It is the first plug-in...
- Porsche 942
- Porsche 959 Prototype
- Porsche 969Porsche 969The Porsche 969 was a concept based on the 964 platform. It was to be the successor of the 930 turbo model.-History:The car was conceived in 1982, as a twin-turbo 911 with four-wheel drive and double-overhead camshafts. The project received the in-house code 965 and was developed along with the...
- Porsche 989Porsche 989The Porsche 989 was a 4-door performance-oriented touring sedan concept created by Porsche in 1988. The vehicle was never produced.-History:Increased sales of Porsche's 928 model during the mid-1980s prompted executives to consider adding another large, sporty touring vehicle to the lineup, this...
- Porsche BoxsterPorsche BoxsterThe Porsche Boxster is a mid-engined roadster built by Porsche. The Boxster is Porsche's first road vehicle to be originally designed as a roadster since the 550 Spyder....
concept - Porsche C88Porsche C88The C88 was a prototype family car designed for the Chinese market in 1994 by Porsche in response to the Chinese government's invitation to a number of international automotive manufacturers for a new range of cars. It was completed in four months by Porsche engineers and was displayed to the...
- Porsche CajunPorsche CajunThe Porsche Cajun is a compact crossover SUV based on the Audi Q5, initially announced in November 2010 as a development project, and formally announced by Porsche in March 2011, with deliveries expected in mid 2013...
- Porsche PanamericanaPorsche PanamericanaThe Porsche Panamericana is an automobile produced by Porsche AG. It was designed by Dutchman Harm Lagaay and Ulrich Bez to renew the design of the 911. Lagaay was known for his work in Porsche's Weissach R&D center from 1970 to 1977 as a member of the Anatole Lapine design team that designed the...
Tractors
- Porsche Type 110
- Porsche AP Series
- Porsche JuniorPorsche JuniorPorsche Junior was a tractor from Porsche-Diesel that was made between 1952 and 1963.The Junior was powered by an air-cooled, 822 cc, single-cylinder diesel engine giving 14 hp.- External links :** http://www.porsche-diesel-club.de/...
(14 hp) - Porsche Standard (25 hp)
- Porsche SuperPorsche SuperPorsche-Diesel Super was a tractor from Porsche.The Super is powered by an air-cooled, four-stroke, 2466 cc, three-cylinder diesel.- External links :** http://www.porsche-diesel-club.de/* http://www.brunnegard.se/* http://www.porsche-diesel.com/...
(38 hp) - Porsche Master (50 hp)
- Porsche 312
- Porsche 108F
- Porsche R22
Hybrid and electric vehicles
In 2010 Porsche launched the Cayenne Hybrid and announced the Panamera Hybrid and the concept 918 Spyder also featured a hybrid system. It had been previously thought that Porsche planned to offer an electric version of the Porsche 911Porsche 911
The Porsche 911 is a luxury 2-door sports coupe made by Porsche AG of Stuttgart, Germany. It has a distinctive design, rear-engined and with independent rear suspension, an evolution of the swing axle on the Porsche 356. The engine was also air-cooled until the introduction of the Type 996 in 1998...
but this has not yet been formally announced.
Motorsport
Auto racing
Auto racing is a motorsport involving the racing of cars for competition. It is one of the world's most watched televised sports.-The beginning of racing:...
, scoring a total of more than 28,000 victories, including a record 16 constructor wins at the 24 Hours of Le Mans
24 Hours of Le Mans
The 24 Hours of Le Mans is the world's oldest sports car race in endurance racing, held annually since near the town of Le Mans, France. Commonly known as the Grand Prix of Endurance and Efficiency, race teams have to balance speed against the cars' ability to run for 24 hours without sustaining...
. Porsche is currently the world's largest race car manufacturer. In 2006, Porsche built 195 race cars for various international motor sports events. In 2007, Porsche is expected to construct no fewer than 275 dedicated race cars (7 RS Spyder LMP2 prototypes, 37 GT2 spec 911 GT3-RSRs, and 231 911 GT3 Cup vehicles).
Pronunciation of "Porsche"
In English use, Porsche is sometimes pronounced as a single syllable ("porsh") ˈ, without a final /əSchwa
In linguistics, specifically phonetics and phonology, schwa can mean the following:*An unstressed and toneless neutral vowel sound in some languages, often but not necessarily a mid-central vowel...
/. However, the company's German pronunciation is ˈ ("Porsh-eh"). German language words do not have a silent "e"
Silent E
Silent e is a writing convention in English spelling. A silent letter e at the end of a word often signals a specific pronunciation of the preceding vowel letter, as in the difference between "rid" and "ride" . This orthographic pattern followed the phonological changes of the Great Vowel Shift...
, and a final "e" in German is pronounced as an unaccented (minimal emphasis/duration) schwa
Schwa
In linguistics, specifically phonetics and phonology, schwa can mean the following:*An unstressed and toneless neutral vowel sound in some languages, often but not necessarily a mid-central vowel...
.
Reputation
In a May 2006 survey, Porsche was awarded the title of the most prestigious automobile brand by Luxury InstituteThe Luxury Institute
The Luxury Institute is a New York based ratings and research organization that conducts research on the luxury industry. The company offers luxury brand research, wealth-surveys of high net worth consumers, and custom consulting and speaking engagements. It also publishes nine annual issues of...
, New York; it questioned more than 500 households with a gross annual income of at least $200,000 and a net worth of at least $720,000.
Porsche was awarded the 2006, 2009, and 2010 J.D. Power and Associates
J.D. Power and Associates
J.D. Power and Associates is a global marketing information services firm founded in 1968 by James David Power III. The firm conducts surveys of customer satisfaction, product quality, and buyer behavior for industries ranging from cars to marketing and advertising firms. The firm is best known for...
award for the highest-ranked nameplate in its Initial Quality Study (IQS) of automobile brands.
SUV reception
According to CNBCCNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
, even an at-the-time questionable foray into the SUV market with the Cayenne in 2003, couldn't damage Porsche credibility. The Times
The Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...
journalist Andrew Frankel says on one level, it is the world's best 4x4, on another, it is the cynical exploitation of a glorious brand that risks long-term damage to that brand’s very identity in the pursuit of easy money with his verdict being "Great car, if only it wasn't a Porsche". Despite the controversy faced by critics, the Cayenne has been a success, generating enough profit for the company to invest in and upgrade the existing model range, as well as fund the Panamera project.
See also
- Ferdinand PorscheFerdinand PorscheFerdinand Porsche was an Austrian automotive engineer and honorary Doctor of Engineering. He is best known for creating the first hybrid vehicle , the Volkswagen Beetle, and the Mercedes-Benz SS/SSK, as well as the first of many Porsche automobiles...
(founder) - Ferry Porsche (Ferdinand Anton Ernst PorscheFerdinand Anton Ernst PorscheFerdinand Anton Ernst Porsche , mainly known as Ferry Porsche, was an Austrian technical automobile designer and automaker-entrepreneur. He operated Porsche AG in Stuttgart, Germany. His father, Ferdinand Porsche Sr was also a renowned automobile engineer. His nephew, Dr...
, 2nd generation, creator of the 356) - F.A. Porsche (Ferdinand Alexander PorscheFerdinand Alexander PorscheFerdinand Alexander Porsche , nicknamed "Butzi", son of Ferry Porsche, grandson of Ferdinand Porsche, is a German designer whose best known product is the first Porsche 911....
, 3rd generation, designer of the 911 turbo s) - Porsche Museum, StuttgartPorsche Museum, StuttgartThe Porsche Museum is an automotive museum in the Zuffenhausen district of Stuttgart, Germany on the site of carmaker Porsche.- The new museum :The new Porsche museum stands on a conspicuous junction just outside Porsche Headquarters in Zuffenhausen...
- Porsche Design GroupPorsche Design GroupPorsche Design Group , based in Bietigheim-Bissingen, Germany, was founded in November 2003 by as a majority-owned subsidiary of Porsche AG to combine Porsche AG's and Porsche Design Group’s accessories and licensing business into one single company.Originally, there were five independently...
- List of Porsche engines
- CTS Car Top Systems
- Porsche Club of AmericaPorsche Club of AmericaThe Porsche Club of America is an organization of Porsche enthusiasts in the United States and Canada. It is organized into 139 regions, which are grouped into 13 zones...
- Need for Speed: Porsche UnleashedNeed for Speed: Porsche UnleashedNeed for Speed: Porsche Unleashed, released as Need for Speed: Porsche 2000 in Europe, and Need for Speed: Porsche in Germany and Latin America, is a racing video game, developed by Electronic Arts Canada and published by Electronic Arts, and is a part of the Need for Speed series...
- List of German cars
- Porsche VIN numbersPorsche VIN numbersThe ISO standard VIN was introduced for the Porsche model year 1981.VINs consist of 17 characters and for Porsche can be decoded as follows:--Vehicle Specification for USA etc :...
External links
- Porsche Automobil Holding SE – the top-tier parent company
- Dr. Ing. h.c. F. Porsche AG Porsche automobiles international portal
- Porsche Engineering
- Porsche Leipzig
- Porsche Design
- Cisitalia Museum
- DigitalLook.com financial information – Porsche Automobil Holding SE (PAH3)
Video clips