Volkswagen has sweetened its bid to purchase almost half of sports car maker Porsche AG and is prepared to offer considerably more than 4 billion euros ($5.58 billion), Germany's Der Spiegel reported.
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Two rival families that control indebted Porsche Automobil Holding SE are set for a showdown that could decide on the planned merger with majority-owned Volkswagen.
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Porsche SE has convened a supervisory board meeting for 23 July to discuss a possible investment by the Gulf state of Qatar, according to people familiar with the matter.
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Two rival families that control indebted Porsche Automobil Holding SE are set for a showdown that could decide on the planned merger with majority-owned Volkswagen.
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Indebted automotive holding group Porsche Automobil Holding SE will discuss a possible sale of 49 percent stake of wholly-owned sports car unit, Porsche AG, to Volkswagen AG during a supervisory board meeting on July 23, a source said on Friday.
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Volkswagen union chief Bernd Osterloh has accused Wendelin Wiedeking of obstructing the possible merger between the two car companies and has told the Porsche SE CEO "to end his ego trip."
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The all-new Jaguar XJ will make its U.S. debut Aug. 12 at the 2009 Pebble Beach Conours d'Elegance, according to sources at Jaguar. The car will be on display for the entire Pebble Beach event, which runs until Aug. 16.
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Porsche SE has denied a report in Handelsblatt newspaper that it had received interest from five potential buyers for the options it holds on Volkswagen AG shares.
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Porsche announced it will show its all-new Panamera Gran Turismo to the North American public for the first time during Monterey Peninsula's Classic Car Week (August 9-16) that includes the Quail, a Motorsports Gathering, the Monterey Historics and the famed Pebble Beach Concours d'Elegance.
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For the second straight year, Alex Gurney lost a heartbreaker in the Brumos Porsche 250 at Daytona International Speedway. Max Angelelli held off a last-lap charge Saturday to win Round 7 of the 2009 Grand-Am Rolex Sports Car, winning by .270 seconds - the fifth-closest finish in the history of the series.
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Porsche Cars Canada, Ltd. today announced
the appointment of Joe Lawrence to the position of Chief Executive Officer.
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Porsche has turned down an offer from Volkswagen to help the cash-strapped sports car maker, the German Press agency dpa reported on Monday. and#8220;It is not a practicable way for us to sell 49.
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Tensions between Porsche and Volkswagen are rising following a weekend report in Germany's Der Spiegel magazine that VW has given the sportscar company a deadline of today to work out the terms of the merger of the two companies.
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Tensions between Porsche and Volkswagen are rising following a weekend report in Germany's Der Spiegel magazine that VW has given the sportscar company a deadline of today to work out the terms of the merger of the two companies.
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Aston Cygnet revealed, new C3, Porsche Spyder, Golf GTI vs Rivals, Win a Subaru Impreza
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MUNICH -- Volkswagen denied on Sunday that it had presented Porsche Automobil Holding SE with an ultimatum to accept its layout for a merger of the two carmakers.
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Porsche's chairman is furious with Volkswagen AG. Wolfgang Porsche said in a statement Saturday that the sports car maker would not be "blackmailed" into a merger with VW.
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