The planned merger between Volkswagen and Porsche might no longer be a clash of the Teutons. After Porsche reported a good fiscal year, thanks to volume sales of the 2010 Panamera and Cayenne, things are looking up for the small wunder from Stuttgart.
Panameras and Cayennes? What happened to the 911 and Boxster? Porsche just released its year-to-date sales figures, and out of 53,605 vehicles sold, the numbers are: - 911: 13,137 - Boxster/Cayman: 7630 - Panamera: 13,906 - Cayenne: 18,932
The total (53,605) represents a decrease of 30 vehicles from 2009 sales.
So, now what? Is this an end to Porsche sports cars? Not exactly. Porsche's 600 million Euro operating profit year-to-date was heavily bolstered by its bread and butter, non-traditional sports cars. The Wall Street Journal reports that Porsche is expecting a smaller loss, year-to-date, than expected. The automaker's loss of 700 million Euro stands against its profit of 4.2 billion Euro a year earlier, and it is "on track" to merge with Volkswagen sometime in 2011. The temporary stall in merger deliberations might have ended.
Wasn't this deal broken up a long time ago? If some of the details in the merger saga seem fuzzy, you're not to blame. Way back in 2009, Volkswagen abandoned plans of a Porsche takeover in favor of a merger. The plan was to integrate Porsche as a 10th brand under the Volkswagen umbrella. Or was it? Porsche also expressed interest in expanding its stake in VW up to 75 percent. Then, the merger was stalled, but the positive sales numbers might mean it's back on.
Stay with Automobilemag.com as we bring you the latest updates on the family feud.
Source: The Wall Street Journal (Subscription required)