Porsche SE, Volkswagen’s biggest shareholder, said it plans to scoop up 25 percent, plus one extra share, in carmaker Porsche AG voting stock when VW lists the sports car brand.
The automaker will stick to its plan to list its Porsche sports-car maker later this year as to finance its pivot toward electric vehicles (EVs).
Volkswagen and its top shareholder have prepared a preliminary agreement to list Porsche to boost the parent company's valuation and fund its push into EVs.
New U.S. record set as demand grows across product lines from 911 and Taycan to SUVs.
Porsche hopes to attract the next generation of car buyers by enlisting U.S. dealers in rolling out a boutique retail concept, called Studios.
Automakers hope to use 5G in big ways, such as downloading software updates on the go, updating digital maps, and sounding alerts about road conditions.
Volkswagen AG forecasts operating return on sales at 5.5% to 7% for 2021, compared to a previous range of 5% to 6.5%.
J.D. Power analysts ranked Buick and Porsche highest among mass market and highline brands in its latest study dedicated gauging satisfaction and future loyalty among U.S. car buyers.
A group of U.S. Porsche dealers is piloting the German factory’s first-ever online sales and financing option, designed to limit the customer’s dealership experience to final signatures and delivery.
Shiraaz Sookralli faces 20 years in prison after admitting to charges of fraud and embezzlement relating to a multimillion-dollar scheme to sell nonexistent Porsches from a South Florida dealership.
