Volkswagen AG eyes to takeover Porsche completely
The auto major who plans to be the number one car manufacturer one day holds only 50.1% stake in its super luxury car subsidiary of Porsche, though with numerous strings attached, but all the same hopes to have a full-fledged ownership of the company going forward. The super luxury car segment of Volkswagen which sells the Porsche Cayenne SUV, with the recently acquired fame to roll out the 100,000th edition of the new generation Porsche Cayenne model globally stands on the brink of a decision today.
Meenal
Published On Jan 27, 2012 18:58 IST
Published OnJan 27, 2012 18:37 IST
Last Updated OnJan 27, 2012 18:58 IST
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Volkswagen has put agreement with Porsche stating that the former can pay the stipulated amount upfront by the pre-determined time and have Porsche completely under its wing or else has the option open to give up totally selling out the stocks at the same afore-mentioned amount to wash its hands off the Porsche. However, Volkswagen who does not seem to find the second option quite enticing is figuring out the best approach to duck out of paying the high tax of € 1 billion, which is otherwise required to shell out of its pocket. And for that matter, why actually would Volkswagen let go of a prized possession which is making stupendous sales across the globe and recently posted a tremendous sales growth and hopes to continue the growth story with 6.5% rise in sales globally for 2012.
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On an overall, where Asia seems to the key market for growth, Porsche sales in India have reached the new heights especially in 2011 growing in leaps and bounds to touch 322 unit sales occuping 30% market share in super luxury car segment in India rivalling against Bentley, Roll-Royce and Ferrari in India. Volkswagen, however seems to be on an expansion spree for Porsche car sales in India with numerous plans on cards, one being the increase in the Porsche dealerships with the newly launched dealership in Bangalore and also the new Porsche Cayenne launch in April to achieve the growth plans set for the year.
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<p style="text-align: left;"><span style="font-family: Arial, Helvetica, Verdana, sans-serif; color: #3f3f3f;"><span>Meenal has been a writer since the time she knew what it is to write. Being a team lead at CarDekho, she guides her team to bring in fresh ideas and true stories to develop a brain storming news for the car enthusiasts across the world. Meenal started writing during her school and is continuing still. Being a post graduate in English Literature with Linguistics, Phonetics, and Grammar as her favorites, she topped throughout. And perhaps that's what helped her starting her career directly as an Editor with international clients from the very beginning. She also has been trained in and has got experience in pre-editing and master-editing journals and books. With almost 5 years of experience in journalism behind her, she still believes that she gets to learn new things about writing news every new day. She plans to start on another degree in psychology. Future plans for her include nothing more than a dynamic GROWTH for herself and SMILES on the readers' faces.</span></span></p>Read more
