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Sedans Volkswagen Jetta VW Jetta TDI
3723 messages, Last post on Dec 05, 2009 at 8:34 AM
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Report: Porsche near deal with VW
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Replying to: ruking1 (Jul 18, 2009 11:55 am)
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Replying to: Mr_Shiftright (Jul 18, 2009 2:50 pm) 
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Volkswagen to Acquire Porsche Volkswagen is planning to purchase all of sports carmaker Porsche, which has run into massive financial problems linked to its overly ambitious plan to take control of VW. The attempted takeover, which had been financed using loans, ultimately failed because of the credit crunch and ensuing liquidity problems that almost saw Porsche go bankrupt. SPIEGEL has obtained information that Volkswagen is planning a complete takeover of beleaguered sports carmaker Porsche in a series of two transactions. The company is planning the imminent purchase of 50 percent of Porsche shares and will purchase the remaining shares in the Stuttgart, Germany-based automobile manufacturer in a second step. Once completed, Porsche will become the 10th brand in the stable of Volkswagen, the world's largest carmaker. DPA Porsche headquarters in Stuttgart: VW has won the power struggle between the two companies. VW's move to acquire Porsche follows a power struggle between the companies. Porsche had sought to buy VW through complicated loan transactions that collapsed when the sports carmaker's liquidity dried up as a result of the credit crunch. It has already been reported that Wolfsburg-based VW would purchase 49.9 percent of Porsche, but SPIEGEL has learned it is now planning a complete acquisition in a second purchase of shares. The deal envisions a payout to Porsche Automobil Holding of €8 billion ($11.3 billion), enabling it to pay off the bulk of its crippling debts. VW is also considering acquiring Porsche's Salzburg-based network of dealerships from its family owners, a move that could raise an addition €3 billion for Porsche. Under the deal, the Porsche and Piëch families, Porsche's shareholders, would obtain 50 percent of the shares in the merged VW-Porsche company. The western German state of Lower Saxony would maintain its 20 percent holding in the company and the door would be open for the emirate of Qatar to purchase between 14.9 percent and 19.9 percent of the company's shares. German news agency DPA reported Friday that the Porsche and Piëch families had agreed to accept the Volkswagen deal. Reuters also reported the deal was now backed by Porsche supervisory board chairman Wolfgang Porsche, who had fought to maintain Porsche's independence from VW. SPIEGEL also reported on Friday that Porsche's current CEO, Wendelin Wiedeking, would step down and that the families had agreed to replace him with Porsche production chief Michael Macht. NEWSLETTER Sign up for Spiegel Online's daily newsletter and get the best of Der Spiegel's and Spiegel Online's international coverage in your In- Box everyday. Wolfgang Porsche denied the report on Friday evening, rebuffing "speculation" that Macht would succeed Wiedeking. Wiedeking, he said, remained head of Porsche AG and Porsche Holding. Deputy chairman of the board and works council chief Uwe Hück also defended Wiedeking. "Wiedeking is chairman of the board and he will continue to be so," he said. Nevertheless, Wiedeking appears to be preparing for his exit. DPA reported this week that he has hired prominent labor lawyer Jobst-Hubertus Bauer to help him negotiate a severance package, a development also reported by the Financial Times Deutschland newspaper. Wiedeking has reportedly been a client of Bauer's for some time now. The labor lawyer has negotiated golden handshakes for several top managers totaling millions in recent years. It is reported that Wiedeking could be up for a deal worth more than €100 million. dsl/spiegel -- with wire reports
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Replying to: donthegreek (Jul 19, 2009 7:02 pm)
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Replying to: gagrice (Jul 19, 2009 7:54 pm) But the numbers in this example would be telling. You have a choice of selling 100 (TDI) vehicles. You have to go thru a costly and lengthy certification procedure and put on an extra 3,500 compliance system and it might take you some time to sell the 100 vehicles in the US markets. Now in China, way faster and less costly certification procedure and not having to put the extra 3,500 in the compliance system and they are literally sold before shipment !!. What would be YOUR choice !!?? |
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Cool. I'll take a 911 TDI or Cayman TDI please, manual transmission.
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Replying to: elias (Jul 20, 2009 11:19 am) The 911 Carrerra S already has 385 hp and 310 #ft !! Using the same ratios as the VW Jetta TDI that would make a 911 TDI 266 hp and 448 # ft !!?? Or 45% more # ft !!! |
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Has anybody been able to find a dealer in the MI or Chicago area that is willing to sell a Jetta TDI Loyal Edition w/ a few options at near TMV value? I have yet to find one. They are not even budging on the 2010 models coming end of August. They are willing to take your money to hold, but no promisse on the final car price. This is insane.... are these SO HOT that every deal can just be all Omnipotent ?. If that is the case, then it's not something I want - no smart buyer should bow down to being ripped off and making these greedy dealers more money. Any good leads and advice is greatly appreciated. Willing to travel a bit to find the deal - even will go to same sales person and recommend you as well. Thanks a mil.
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Replying to: natureboy2 (Jul 24, 2009 12:41 pm) Inventory is dropping fast on the 2009 and there's still awhile before 2010's show up so VW has pulled back on incentives at their big dealers (the small dealers don't get much if anything regardless. May was the best month to buy a TDI. They had dealer incentive of $1,500 in May, then they dropped to to $1,000 in June, and now it's $500. No idea what August will bring. It might go back up after the 2010's arrive...but there most likely won't be much of anything to pick from. From what I've seen/heard the manual transmissions are getting really hard to find. Pricing isn't out yet on the 2010 models....so it would be hard to deal on a precise number but I would think they would agree to $XX discount. The dealer in Philly is taking orders at $200 under invoice....whatever that works out to be. I was very close to buying from this dealer in Philly back in June but I couldn't get one exactly the way I wanted....and I'm picky. Now if someone could use the cash4clunkers program, plus the $1,300 tax credit, plus buy at under invoice....that would be a terrific deal.
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