piech Archives | AutoDepot

Filed under: Europe, Porsche, Volkswagen, Earnings/Financials, Middle East

F.K. Piech

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.

Buying that ten-percent stake back returns full ownership to the two families, the holding company’s sole possession being ownership of 50.7 percent of VW’s common shares. The price paid wasn’t disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

Porsche-Piech buy 10% stake in VW’s holding company originally appeared on Autoblog on Tue, 18 Jun 2013 08:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Continue reading “Report: Porsche-Piech buy 10% stake in VW’s holding company”

Filed under: Etc., Earnings/Financials, Alfa Romeo, Fiat

Alfa Romeo builds some really good-looking rides, but that apparently hasn’t translated into profits for Fiat. In a recent interview with Forbes, Fiat CEO Sergio Marchionne reportedly called the Italian brand a “money loser,” and sales of the marque have consistently underwhelmed. But while Fiat has worked hard to rehab Alfa Romeo to no apparent avail, Volkswagen Chairman Ferdinand Piech feels his people can do better.

Reuters reports that Piech declared at the Geneva Motor Show that VW could raise Alfa sales from about 100,000 units per year to 400,000 or more in a scant five years. The boasting by Piech may seem more than a bit cocky, but that confidence jibes well with VW’s bold proclamations that it will become the largest automaker on earth by 2018.

So what prompted Piech to announce to the world that VW could sell more Alfas than Fiat? We have no idea, and Marchionne has shown little public interest in selling the brand in the past. VW is obviously interested in buying Italy’s sweetheart, though, and the German automaker likely has the cash and can take a liability off Fiat’s books.

[Source: Reuters | Image: Nigel Treblin/AFP/Getty]

Report: Piech says Alfa Romeo sales could increase fourfold under VW ownership originally appeared on Autoblog on Wed, 02 Mar 2011 13:41:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Continue reading “Report: Piech says Alfa Romeo sales could increase fourfold under VW ownership”