[opinion] - hmmm…VW/Audi/Porsche may be in trouble…

[Tooney]

Audi Brussels shuts down as Europe's auto woes deepen
An Audi factory in Brussels billed as the "cradle" of the German carmaker's electric drive is shutting down production for good on Friday, the latest sign of the woes afflicting Europe's auto industry.

The plant's closure, with the loss of 3,000 jobs, comes days before EU chief Ursula von der Leyen is set to present a much-touted action plan to help the auto industry through "the deep and disruptive transition ahead".

After rising by nearly 10 percent in 2023, global car sales slowed sharply last year, with new registrations rising just 1.7 percent worldwide and declining in the European powerhouses France and Germany.

In terms of electric vehicle (EV) innovation, an Allianz Trade report warned this month that European manufacturers had allowed themselves to be outpaced by US giant Tesla and Chinese rivals BYD and Geely, with European cars too expensive as a result.

Audi, a subsidiary of German auto giant Volkswagen, gave several factors for closing the Brussels plant, the largest private employer in the Belgian capital.

It had switched to producing EVs in 2018 after 70 years of making combustion engine models.

But the company said a global fall in demand for high-end electric sport utility vehicles (SUVs) had tanked demand for its Q8 e-tron, to which the site was exclusively dedicated.

 

[Tooney]

Porsche SE suffers multibillion-euro loss following write-downs
The Volkswagen holding company, Porsche SE, has slipped into the red due to multibillion-euro write-downs on its investments in VW and the sports car manufacturer Porsche AG.

Porsche and Volkswagen CEO to keep dual role until restructuring complete, WirtschaftsWoche reports
Volkswagen and Porsche CEO Oliver Blume said his dual role at the helm of both companies was not meant to last forever but was necessary to complete the restructuring underway at the brand and wider group, WirtschaftsWoche magazine reported on Friday.

 

[daveo4EV]

Porsche SE suffers multibillion-euro loss following write-downs
The Volkswagen holding company, Porsche SE, has slipped into the red due to multibillion-euro write-downs on its investments in VW and the sports car manufacturer Porsche AG.

Porsche and Volkswagen CEO to keep dual role until restructuring complete, WirtschaftsWoche reports
Volkswagen and Porsche CEO Oliver Blume said his dual role at the helm of both companies was not meant to last forever but was necessary to complete the restructuring underway at the brand and wider group, WirtschaftsWoche magazine reported on Friday.

"it's going so well…"

 

[Tooney]

Porsche SE says it is not considering sale of Volkswagen shares
Not, I tell you, not.

 

[Tooney]

Volkswagen shareholder Porsche SE says looking to diversify investments

 

[whitex]

Volkswagen shareholder Porsche SE says looking to diversify investments

Are they buying the TSLA stock dip?

 

[Tooney]

Development plan for Nardò Technical Center will not be implemented

Porsche Puts The Brakes On Its Expensive Nardo Revamp

 

[jmebid]

I feel so stupid. Bought a Taycan and was totally unaware whether it had or had not run a lap at a place I do not know how to pronounce.

?

 

[Tooney]

Porsche SE after losses: Automotive holding company considers returning to the defense business
The Porsche SE holding company, which has suffered losses, is considering re-entering the arms market. The company has experience in developing the Leopard tank for the Bundeswehr and is already investing in the development of drones.

After multi-billion losses last year in both its group and Volkswagen, the Porsche SE holding company is looking for new business directions. In particular, they are considering the possibility of returning to the production of weapons and defense equipment.

Porsche plants in Germany may start making tanks, weapons
German Defense Giant Rheinmetall May Take Over VW Factory to Make Tanks

 

[Der-Schwabe]

Porsche SE after losses: Automotive holding company considers returning to the defense business
The Porsche SE holding company, which has suffered losses, is considering re-entering the arms market. The company has experience in developing the Leopard tank for the Bundeswehr and is already investing in the development of drones.

After multi-billion losses last year in both its group and Volkswagen, the Porsche SE holding company is looking for new business directions. In particular, they are considering the possibility of returning to the production of weapons and defense equipment.

Porsche plants in Germany may start making tanks, weapons
German Defense Giant Rheinmetall May Take Over VW Factory to Make Tanks

I think Porsche SE holding company is not the same as the "Dr Ing hc F Porsche AG" car manufacturing company. So the former appears to be diversifying "its holdings beyond Volkswagen and luxury-car maker Porsche" by " exploring the acquisition of a defence company"...this article in the FT explains the background.

Porsche family vehicle eyes defence shareholding as third ‘core investment’

 

[chun]

I have a feeling porsche thinks military technology has stagnated since they made the Leopard tanks. They'd be shocked how important software is in new military equipment.

Wish them luck with the kind of leadership that ships software as bad as it is in the taycan, they will need all the luck to ship cutting edge military equipment, because I have a feeling that's what clients want, not Leopard tanks

 

[Sly_North]

I think Porsche SE holding company is not the same as the "Dr Ing hc F Porsche AG" car manufacturing company.

Indeed. Or to be more accurate: it used to be!

There used to be only Porsche Dr...AG.
When they wanted to buy VW, they renamed P. AG into P.SE, created a new Porsche AG that owned the car fabrication. VW bought the new P.AG, and the ex-P.SG-new-P.SE bought the majority of VW.

Edit - and there was the Austrian "Porsche Konstruktionen GesmbH" that created the 356. And P. Design and...

 

[Vim Schrotnock]

Porsche converting factories to manufacture tanks... Not as crazy as it sounds. Interesting.

 

[A.Mayor]

Porsche SE after losses: Automotive holding company considers returning to the defense business
The Porsche SE holding company, which has suffered losses, is considering re-entering the arms market. The company has experience in developing the Leopard tank for the Bundeswehr and is already investing in the development of drones.

After multi-billion losses last year in both its group and Volkswagen, the Porsche SE holding company is looking for new business directions. In particular, they are considering the possibility of returning to the production of weapons and defense equipment.

Porsche plants in Germany may start making tanks, weapons
German Defense Giant Rheinmetall May Take Over VW Factory to Make Tanks

Not surprising at all.

There’s big and easy money to be won — no way Porsche SE is going to pass up this opportunity of a lifetime!

Porsche SE et al always home in on wherever money flows.

With €150 billion for European rearmament and Germany’s €1 trillion earmarked for military upgrades (among other things), it’s only natural.

Closed car factories are being repurposed for the military industry … there are even calls for everyone to join the fray.

 

[whitex]

Porsche converting factories to manufacture tanks... Not as crazy as it sounds. Interesting.

Hmm... a battery recall might be spun as a feature. "Please park your tanks near you enemy while charging".