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Porsche and Piech families

Fiat Chrysler joins Porsche and Toyota to kill off diesel car making

March 1, 2018

Fiat Chrysler Automobiles (FCA) is the latest top 10 carmaker to say it will stop making diesel cars.

Fiat Chrysler Automobiles (FCA) is to stop making diesel cars by 2022—the latest top 10 carmaker to call it quits on the controversial fuel.

The Italian carmaker that is controlled by Exor, the investment vehicle of the Agnelli family who have a 29% stake in FCA, said it would stop making diesel cars due to falling demand and spiralling regulatory costs, according to media reports.

Porsche off the hook in one of its hedge fund lawsuits

March 18, 2014

A court in Stuttgart, Germany, has dismissed a lawsuit brought against Porsche SE – the investment company that controls the eponymous German carmaker – by a group of hedge funds seeking €1.4 billion in damages.

The hedge funds claimed Porsche mislead the markets back in 2008 over its takeover plans for rival German car brand Volkswagen.

The Piech and Porsche families, who are descendants of Ferdinand Porsche, the carmaker's founder, control Porsche SE.

Last of the surfermobiles

August 22, 2013

Carmaker Volkswagen has announced it is terminating production of one of its most iconic vehicles – beloved of surfers, hippies and other wandering souls for more than half a century.

The Kombi has been manufactured in Brazil since 1957, but was first launched in Germany in 1950, making it is one of the longest running automobile models in history.

The classic Kombi design no longer meets Brazil's required safety standards, forcing Volkswagen to phase out production of the vehicle, according to a company spokeswoman.

Carmaking dynasty tightens grip on the wheel of Porsche

June 18, 2013

The Piech and Porsche families, descendents of the founders of the eponymous carmaker, have reasserted their control over Porsche's holding company.

On 17 June the families reached an agreement with Qatar Holding – the investment division of Qatar's sovereign wealth fund – to buyback the 10% voting stake in Porsche SE that was sold in 2009. The value of the transaction has not been disclosed.

Porsche 911 celebrates 50th anniversary with limited edition

June 7, 2013

Porsche, one of Germany's most famous family businesses, is celebrating the 50th anniversary of its iconic 911 model with a new, limited edition of the car.

The new 911 coupe features a flat-six rear engine and rear wheel drive and goes from zero to 100 kilometres per hour in just 4.5 seconds – only 1,963 models will be made, to represent the year of the 911's launch.

Volkswagen-Porsche merger further delayed

September 9, 2011

The management team at Volkswagen are “urgently” examining “potential courses of action” to ensure that the planned merger of the German carmaker with Porsche can go ahead, according to a spokesman for VW.

VW said this week that efforts to merge the two family-controlled companies are being hampered by legal issues relating to Porsche's failed attempt to take over Volkswagen in 2008, which saw Porsche accumulate a debt of €10 billion.

Family-controlled car businesses report strong profits

August 2, 2011

BMW and Porsche, two of Europe’s most recognisable family-controlled luxury car manufacturers, have reported strong profits for the first six months of the year, following difficult trading in 2010.

Porsche, which is majority owned by the Porsche and Piech families, saw pre-tax profits of €149 million for the first half of 2011, compared to a loss of €1.62 billion in the same period last year.