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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.
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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).
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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.
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New U.S. record set as demand grows across product lines from 911 and Taycan to SUVs.
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Porsche hopes to attract the next generation of car buyers by enlisting U.S. dealers in rolling out a boutique retail concept, called Studios.
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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.
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Volkswagen AG forecasts operating return on sales at 5.5% to 7% for 2021, compared to a previous range of 5% to 6.5%.
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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.
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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.
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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.
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