Anyone remember my post last year about how disappointed I was that Porsche looked to be taking control of VW Group? Well it looks like my prayers have been answered and in fact it will be VW taking over Porsche as the business falls over in the current economic climate.
The company make just three types of car at the moment (if you discount the nauseating Panamera) one of which hasn’t changed in the past few decades but the business was billed as the most profitable and successful. It seems this success went to their head and Porsche borrowed heavily to take on VW only to come unstuck in the economic crunch. A good example of the short sighted bravado that existed when the going was good only to fail when trading (and more importantly finance) became tough.