Porsche to Compete Globally with Toyota
Prosche’s CEO is hinting that by Porsche having a 27.4% control in Volkswagen’s stake, it could line itself up to compete with Toyota on a global level. While there is no official word on whether Porsche will buy out Volkswagen, in the recent financial results, presented by CEO Wiedeking, Porsche compared their stake in Volkswagen to the automotive market saying:
“We opened the game. Other players are either striking out against us or joining us in our moves””and now everybody not acquainted with the tactics we had carefully considered in advance is feeling nervous. VW, with all its brands, is the only one with the potential to stand up to Toyota.”
Wiedeking currently sits on the Volkswagen board and has said that Porsche’s involvement and investment is strategic and longterm.