Porsche
8
Porsche can veto large corporate decisions undertaken by VW AG.
In mid-2006, after years of the Boxster (and later the Cayenne) as the dominant Porsche in North America, the 911 regained its position as Porsche's backbone in the region. The Cayenne and 911 have cycled as the top-selling model since. In Germany the 911 clearly outsells the Boxster/Cayman and Cayenne.
Profits
Porsche's 2006/2007 fiscal year's net profit was €4.2 billion. Out of this €3.6 billion was from stock option transactions, most presumably from Volkswagen AG and its dividends.
Table of profits in millions of euros:
Relationship with Volkswagen
The company has always had a close relationship with, initially, the Volkswagen (VW) marque, and later, the Volkswagen Group (which also owns AUDI AG), because the first Volkswagen Beetle was designed by Ferdinand Porsche. (Initial production of the first Beetle was made with cooperation and by Daimler-Benz AG). The two companies collaborated in 1969 to make the VW-Porsche 914 and 914-6, whereby the 914-6 had a Porsche engine, and the 914 had a Volkswagen engine, in 1976 with the Porsche 912E (USA only) and the Porsche 924, which used many Audi components, and was built at Audi's Neckarsulm factory. Most Porsche 944s also were built there, although they used far fewer Volkswagen components. The Cayenne, introduced in 2002, shares its entire chassis with Volkswagen Touareg and Audi Q7, which is built at the Volkswagen Group factory in Bratislava. In late 2005, Porsche took an 18.65% stake in the Volkswagen Group, further cementing their relationship, and preventing a takeover of Volkswagen Group, which was rumoured at the time. Speculated suitors included DaimlerChrysler AG, BMW, and Renault.
On 26 March 2007, Porsche took its holding of Volkswagen AG shares to 30.9%, triggering a takeover bid under German Law. Porsche then formally announced in a press statement that it did not intend to take over Volkswagen Group (it would set its offer price at the lowest possible legal value), but intended the move to avoid a competitor taking a large