Sorry, a little late in coming this week. Here’s what I found interesting in the Porsche world this last week.
Techart Porsche Cayman Shooting Brake rendering – Not sure where the “Shooting Brake” name came from, but to the right is what Techart envisions a hatchback/hunchback Cayman could look like. The only thing I can think of at the moment is……why?! [Via MotorPulse.com]
Porsche Panamera bests Cadillac’s record at the Nürburgring – It’s being reported that the Panamera beat the Cadillac CTS-V record set just about a year ago on the Nürburgring’s north loop. The Panamera made the loop in just under eight minutes (7 min, 56 sec) giving it the title of fastest production four-door car. Funny, one guy said “And speaking of beating, looks like the Panamera also won the beaten by the ugly stick competition.” One in every crowd, eh. [Via Autoblog.com]
Porsche takeover turmoil continues – Last week was quite the busy week for Porsche from a merger & acquisition standpoint. The Porsche and Piech families met early in the week to discuss a merger. Qatar offered $10 billion for a 25% stake in Porsche Automobil Holding along with options on VW shares currently held by Porsche. Just recently it was reported that VW will acquire ALL of Porsche for $11.28 billion. 49.9% now with the rest coming at a later date. As a result, Porsche’s work force is up in arms and threatening to strike in protest to the merger. They want to stay independent. Sheesh….what a mess. [Via Reuters.com, Business24-7.ae, WashingtonPost.com]
Porsche has nearly 3,000 orders for the Panamera – Still over two months before the car hits showroom floors, buyers are lining up at a decent pace. Christian Dau, a spokesman for Porsche, told reporters that buyers new to the Porsche brand will most likely account for 80 to 85% of the sales of Panameras. That’s an interesting one. Porsche is still planning on selling 20,000 Panameras in the fiscal year starting in August. [Via Bloomberg.com]
Wendelin Wiedeking on his way out??? – Rumors and reports are pointing to his inevitable exit as CEO of Porsche. His current contract runs until 2012, but everyone seems to be saying there won’t be a place for him after some type of merger. The brilliant mind behind the VW takeover is getting ousted because of the debt. Stupid in my opinion. Course it’s not like he’s gonna get thrown out with nothing to show for his time at Porsche. He stands to walk away with at least $141 million. I suppose that will ease some of the pain! [Via CEOWorld.biz]