Porsche CEO Wiedeking: Ve Vill Rule Ze World! Monday.
According to Automotive News Europe, Porsche’s new holding company will increase its VW holdings after Sunday's state elections in Lower Saxony (whose government is VW's second-largest shareholder). Speaking at Porsche’s annual general meeting, the prospect had the automaker’s CEO all misty-eyed. "Barring the unexpected, we should once again achieve a result where it will be difficult to suppress tears of joy." Along the same line, Wendelin Wiedeking revealed that "The operating profit in our car business is developing according to plan and our hedging transactions in the context of our long-term VW strategy look good." What if the U.S. economy tanks? "Porsche is well prepared for a possible economic crisis in the USA, with inventories in the local market having been significantly reduced." Wiedeking also submitted his application for TTAC’s Bob Lutz Award (no really). "It would appear that the only way to escape the end of the world is to hop into those quaint little baby-cars from Italy and France." So much for a “unified” Europe, eh boys?
Glenn is a baby-boomer, born in 1954. Along with his wife, he makes his home in Connecticut. Employed in the public sector as an Information Tedchnology Specialist, Glenn has long been a car fan. Past rides have included heavy iron such as a 1967 GTO, to a V8 T-Bird. In between those high-horsepower cars, he's owned a pair of BMW 320i's. Now, with a daily commute of 40 miles, his concession to MPG dictates the ownership of a 2006 Honda Civic coupe which, while fun to drive, is a modest car for a pistonhead. As an avid reader, Glenn enjoys TTAC, along with many other auto-realated sites, and the occasional good book. As an avid electronic junkie, Glenn holds an Advanced Class amateur ("ham") radio license, and is into many things electronic. From a satellite radio and portable GPS unit in the cars, to a modest home theater system and radio-intercom in his home, if it's run by the movement of electrons, he's interested. :-)
More by Glenn Swanson
Comments
Join the conversation
Wait Porsche makes cars? I didn't see them down at the NAIAS. Oh yeah, that's right... Porsche is too good for Michigan now.
Porsche has always wanted to rule the world. Nothing new about that.
About 15 years ago when traveling on business in Europe I noticed two things. The British seemed to maintain the illusion that they still ruled the world. The Germans seemed to think that the world would be a much better place if Germans ruled it, but were reluctant to say so out loud.
I really hope Porsche turns VW into what it can be instead of it's current state. VW owns the "affordable" German car market in the U.S. Yet, VW keeps "shooting themselves" with 50K and up Touregs and Phaetons. BTW, someone at Porsche needs to kill the Chrysler/VW minivan before it hits the streets. VW rep. is bad enough they do not need a rebadged Chrysler. VW should give up the minivan market, they are ten years too late and get in the game with the CUV Tigan.