The Porsche-Volkswagen takeover saga continues as Porsche has finally pushed its holding in VW over 50%. Porsche has held an interest of 74.1% in combined stock and options in VW since late last year, but has been waiting for economic conditions to improve to further increase its stake.

Porsche acquired its majority by purchasing another $8.49 billion worth of Volkswagen stock. Even though the its alot of money, it’s about 25% of what it would have took late last year when a confluence of market conditions drove VW’s share prices above $1,250 and temporarily made the company the most valuable in the world. …click here to read more

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Porsche will release another set of high profit figures for this financial year on the back of its growing stake in Volkswagen and its own successful sports car range, but despite this success the carmaker is very critical of the poor performance of some of its rivals and the U.S. government bailout for the automotive industry.

Porsche has experienced a year of record profit last year, with sales also reaching record levels, earning the company revenues of €7.4 billion. These figures are expected to be improved upon this year, according to Porsche CEO Wendelin Wiedeking. …click here to read more

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The City of Stuttgart has taken delivery of two new Porsche Cayenne emergency medical vehicles for the municipal fire department’s Emergency Medical Service. Today both vehicles, which have the radio identification names “Florian Stuttgart 5/82-1″ and “5/82-2″ were handed over in Zuffenhausen to Dr. Martin Schairer, Stuttgart’s Deputy Mayor in charge of law, public safety and order, by Thomas Edig, Porsche AG’s Executive Board Member responsible for Human Resources and Welfare. …click here to read more

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