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Volkswagen Still Volkswagen – Porsche CEO

Porsche CEO Wendelin Wiedeking said during the Porsche’s general staff meeting that Porsche will not take over Volkswagen, they will operate independently of Volkswagen’s decisisons. He cleared this out because there have been a lot of media craze around the Porsche-Volkswagen relationship. “Volkswagen will remain Volkswagen,” Wiedeking said before the Porsche employees. He also pointed out the difference between the two companies saying that Volkswagen “plays in the championship league” but still has a long way to achieve its goals.

Wiedeking also cleared that Porsche will remain in Stuttgard. Regarding the increase of collaboration with Volkswagen, he said that “At present there are no further intentions. We continue to look at the market by ourselves and what is feasible.” He also said reverified that “there will be no baby Cayenne.”

Porsche also raised their forecast on their earnings. Wiedeking said that “it is not difficult to predict that our annual earnings will be significantly — and I mean significantly — better than the 2.1 billion euros in the previous year.”

This entry was posted on Wednesday, June 27th, 2007 at 2:08 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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