PorscheFrom Wikipedia, the free encyclopediaThis article is
about the automotive brand and manufacturer, Porsche AG. For the
holding company that is the majority owner of Volkswagen Group,
seePorsche Automobil Holding SE. For other uses of Porsche,
seePorsche (disambiguation).Dr. Ing. h.c. F. Porsche AG
TypeAktiengesellschaft
IndustryAutomotive
FoundedStuttgart, Germany (1931)
FounderFerdinand Porsche
HeadquartersStuttgart,Baden-Wrttemberg, Germany
Area servedWorldwide
Key peopleWolfgang Porsche, ChairmanMatthias Mller,CEO[1]
ServicesAutomotivefinancial services, engineering services,
investment management
Revenue14.326 billion (2013 annual report)
Operating income2.579 billion (2013 annual report)
Profit1.939 billion (2013 annual report)
Total assets24.560 billion (2013 annual report)
Total equity9.039 billion (2013 annual report)
OwnerVolkswagen Group
Number of employees19,456 (2013 annual report)[2]
SubsidiariesMieschke Hofmann und Partner(81.8%)Porsche
Consulting group
Websitewww.Porsche.com
Dr. Ing. h.c. F. Porsche AG, usually shortened toPorsche
AG(German pronunciation:[p](listen)[3]), is a German automobile
manufacturer specializing in high-performance sports cars, SUVs and
sedans. Porsche AG is headquartered inStuttgart, and is owned
byVolkswagen AG, which is itself majority-owned byPorsche Automobil
Holding SE. Porsche's current lineup includes
the911,Boxster,Cayman,Panamera,Cayenne,Macan, and
the918.Contents[hide] 1History 1.1Origin 1.2Company logo
1.3Developments 1.4Relationship with Volkswagen 1.5Corporate
restructuring 1.6Subsidiaries 2Production and sales 2.1Production
composition 2.1.1North American sales 3Models 3.1Consumer models
3.2Racing models 3.3Prototypes and concept cars 3.4Tractors
3.5Hybrid and electric vehicles 3.6Aircraft engines 4Motorsport
5Pronunciation of "Porsche" 6Reputation 7Reliability 7.1SUV
reception 8See also 9References 10External
linksHistoryOriginAustrian engineerFerdinand Porschefounded the
company called "Dr. Ing. h. c. F. PorscheGmbH" in Austria in
1931,[4]then moved to its main offices at Kronenstrae 24 in the
centre ofStuttgart. Initially, the company offered motor vehicle
development work and consulting,[4]but did not build any cars under
its own name. One of the first assignments the new company received
was from the German government to design a car for the people, that
is a "Volkswagen".[4]This resulted in theVolkswagen Beetle, one of
the most successful car designs of all time.[5]ThePorsche 64was
developed in 1939 using many components from the Beetle.[4]
Porsche's tank prototype, the "Porsche Tiger", that lost
toHenschel & Son'sTiger I.
Panzerjger Elefant, after the loss of the contract to the Tiger
I Porsche recycled his design into atank destroyer.DuringWorld War
II,[6]Volkswagenproduction turned to the military version of the
Volkswagen Beetle, theKbelwagen,[6]52,000 produced,
andSchwimmwagen,[6]15,584 produced.[7]Porsche produced several
designs forheavy tanksduring the war, losing out toHenschel &
Sonin both contracts that ultimately led to theTiger Iand theTiger
II. However, not all this work was wasted, as the chassis Porsche
designed for the Tiger I was used as the base for theElefanttank
destroyer. Porsche also developed theMaussuper-heavy tankin the
closing stages of the war, producing two prototypes.[8]At the end
of World War II in 1945, theVolkswagen factoryatKdF-Stadtfell to
the British. Ferdinand lost his position as Chairman of the Board
of Management of Volkswagen, andIvan Hirst, a British Army Major,
was put in charge of the factory. (In Wolfsburg, the Volkswagen
company magazine dubbed him "The British Major who saved
Volkswagen."[9]) On 15 December of that year, Ferdinand was
arrested for war crimes, but not tried. During his 20-month
imprisonment, Ferdinand Porsche's son,Ferry Porsche, decided to
build his own car, because he could not find an existing one that
he wanted to buy. He also had to steer the company through some of
its most difficult days until his father's release in August
1947.[10]The first models of what was to become the356were built in
a small sawmill inGmnd, Austria.[10]The prototype car was shown to
German auto dealers, and when pre-orders reached a set threshold,
production (with Aluminium body) was begun byPorsche Konstruktionen
GesmbHfounded by Ferry andLouise. Many regard the 356 as the first
Porsche simply because it was the first modelsoldby the fledgling
company along withPorsche 360. After the production of 356 was
taken over by the father's Dr. Ing. h.c. F. Porsche GmbH in
Stuttgart in 1950, Porsche commissioned a Zuffenhausen-based
company,Reutter Karosserie, which had previously collaborated with
the firm on Volkswagen Beetle prototypes, to produce the 356's
steel body. In 1952, Porsche constructed an assembly plant (Werk 2)
across the street fromReutter Karosserie; the main road in front of
Werk 1, the oldest Porsche building, is now known as
Porschestrasse.[11]The 356 was road certified in 1948.Company logo
Porsche logo Weimar-eraWrttembergcoat of arms Coat of arms of
StuttgartPorsche's company logo was based on thecoat of arms of the
Free People's State of Wrttembergof formerWeimar Germany, which had
Stuttgart as its capital (the same arms were used
byWrttemberg-Hohenzollernfrom 1945-1952, while Stuttgart during
these years was the capital of adjacentWrttemberg-Baden). The arms
ofStuttgartwas placed in the middle as aninescutcheon, since the
cars were made in Stuttgart. The heraldic symbols were combined
with the texts "Porsche" and "Stuttgart", which shows that it is
not a coat of arms since heraldic achievements never spell out the
name of thearmigernor the armigers home town in the
shield.Wrttemberg-Baden and Wrttemberg-Hohenzollern became part of
the present land ofBaden-Wrttembergin 1952 after the political
consolidation ofWest Germanyin 1949, and the old design of the arms
of Wrttemberg now only lives on in the Porsche logo. On 30 January
1951, not long before the creation of Baden-Wrttemberg, Ferdinand
Porsche died from complications following a stroke.Developments
1952 Porsche 356 K/9-1 PrototypeIn post-war Germany, parts were
generally in short supply, so the 356 automobile used components
from the Volkswagen Beetle, including the engine case from
itsinternal combustion engine,transmission, and several parts used
in thesuspension. The 356, however, had several evolutionary
stages, A, B, and C, while in production, and most Volkswagen
sourced parts were replaced by Porsche-made parts. Beginning in
1954 the 356s engines started utilizing engine cases designed
specifically for the 356. The sleek bodywork was designed byErwin
Komendawho also had designed the body of the Beetle. Porsche's
signature designs have, from the beginning, featured air-cooled
rear-engine configurations (like the Beetle), rare for other car
manufacturers, but producing automobiles that are very well
balanced.In 1964, after a fair amount of success inmotor-racingwith
various models including the550 Spyder, and with the 356 needing a
major re-design, the company launched thePorsche 911:
anotherair-cooled,rear-enginedsports car, this time with a
six-cylinder"boxer" engine. The team to lay out the body shell
design was led by Ferry Porsche's eldest son,Ferdinand Alexander
Porsche(F. A.). The design phase for the 911 caused internal
problems with Erwin Komenda, who led the body design department
until then. F. A. Porsche complained Komenda made unauthorized
changes to the design. Company leader Ferry Porsche took his son's
drawings to neighboring chassis manufacturer Reuter. Reuter's
workshop was later acquired by Porsche (so-called Werk 2).
Afterward Reuter became a seat manufacturer, today known
asKeiper-Recaro.
ThePorsche 912, from the 1960sThe design office gave sequential
numbers to every project (SeePorsche type numbers), but the
designated 901 nomenclature contravenedPeugeot's trademarks on all
'x0x' names, so it was adjusted to 911. Racing models adhered to
the "correct" numbering sequence: 904, 906, 908. The 911 has become
Porsche's most well-known and iconic model successful on the
race-track, inrallies, and in terms of road car sales. Far more
than any other model, the Porsche brand is defined by the 911. It
remains in production; however, after several generations of
revision, current-model 911s share only the basic mechanical
configuration of a rear-engined, six-cylindercoup, and basic
styling cues with the original car. A cost-reduced model with the
same body, but with 356-derived four-cylinder engine, was sold as
the 912.In 1972, the company's legal form was changed
fromKommanditgesellschaft(KG), or limited partnership,
toAktiengesellschaft(AG), or public limited company, because Ferry
Porsche came to believe the scale of the company outgrew a "family
operation", after learning aboutSoichiro Honda's "no family members
in the company" policy atHonda. This led to the establishment of an
Executive Board with members from outside the Porsche family, and a
Supervisory Board consisting largely of family members. With this
change, most family members in the operation of the company
including F. A. Porsche and Ferdinand Pich departed from the
company.F. A. Porsche founded his own design company,Porsche
Design, which is renowned for exclusive sunglasses, watches,
furniture, and many other luxury articles. Louise's son and Ferry's
nephewFerdinand Pich, who was responsible for mechanical
development of Porsche's production and racing cars (including the
very successful911,908and917models), formed his own engineering
bureau, and developed afive-cylinder-inlinediesel
engineforMercedes-Benz. A short time later he moved toAudi(used to
be a division, then a subsidiary, of Volkswagen), and pursued his
career through the entire company, ultimately becoming the Chairman
ofVolkswagen Group.The first Chief Executive Officer (CEO) of
Porsche AG was Dr.Ernst Fuhrmann, who had been working in the
company's engine development division. Fuhrmann was responsible for
the so-called Fuhrmann-engine, used in the 356 Carrera models as
well as the 550 Spyder, havingfour overhead camshaftsinstead of a
central camshaft with pushrods, as in the Volkswagen-derived serial
engines. He planned to cease the 911 during the 1970s, and replace
it with theV8-front enginedgrand sportswagon928. As we know today,
the 911 outlived the 928 by far. Fuhrmann was replaced in the early
1980s byPeter W. Schutz, an American manager and self-proclaimed
911 aficionado. He was then replaced in 1988 by the former manager
of German computer company Nixdorf Computer AG,Arno Bohn, who made
some costly miscalculations that led to his dismissal soon after,
along with that of the development director,Dr. Ulrich Bez, who was
formerly responsible for BMW'sZ1model, and is today the CEO ofAston
Martin.
The second-generation Porsche 911 (964), introduced in 1989, was
the first to be offered with Porsche'sTiptronictransmission.In
1990, Porsche drew up a memorandum of understanding withToyotato
learn and benefit from Japaneselean manufacturingmethods. In 2004
it was reported that Toyota was assisting Porsche withhybrid
technology.[12]Following the dismissal of Bohn,Heinz Branitzki, a
longtime Porsche employee, was appointed as interim CEO. Branitzki
served in that position untilWendelin Wiedekingbecame CEO in 1993.
Wiedeking took over the chairmanship of the board at a time when
Porsche appeared vulnerable to a takeover by a larger company.
During his long tenure, Wiedeking transformed Porsche into a very
efficient and profitable company.Ferdinand Porsche's nephew,
Ferdinand Pich, was chairman and CEO of theVolkswagen Groupfrom
1993 to 2002, and is chairman of the Volkswagen AG Supervisory
Board since. With 12.8 percent of the Porsche SE voting shares, he
also remains the second largest individual shareholder of Porsche
SE after his cousin, F. A. Porsche, (13.6 percent).Porsche's 2002
introduction of the Cayenne also marked the unveiling of a new
production facility inLeipzig,Saxony, which once accounted for
nearly half of Porsche's annual output. In 2004, production of the
456kilowatts(620PS; 612bhp)Carrera GTcommenced in Leipzig, and at
EUR 450,000 ($440,000 in the United States) it was the most
expensive production model Porsche ever built.
Porsche 911 (991)In mid-2006, after years of the Boxster (and
later the Cayenne) as the best selling Porsche in North America,
the 911 regained its position as Porsche's best-seller in the
region. The Cayenne and 911 have cycled as the top-selling model
since. In Germany, the 911 outsells the Boxster/Cayman and
Cayenne.[13]In May 2011, Porsche Cars North America announced plans
to spend $80$100 million, but will receive about $15 million in
economic incentives to move their North American headquarters
fromSandy Springs, a suburb ofAtlanta, toAerotropolis, Atlanta, a
new mixed-use development on the site of the oldFord Hapeville
plantadjacent toAtlanta's airport.[14]Designed by architectural
firmHOK, the headquarters will include a new office building and
test track.[15][16][17]The facility will be known by its new
address, One Porsche Drive.Relationship with Volkswagen
Combined badging of the European 914The company has always had a
close relationship with, initially, theVolkswagen(VW)marque, and
later, theVolkswagen Group(which also ownsAudi AG), because the
firstVolkswagen Beetlewas designed byFerdinand Porsche.The two
companies collaborated in 1969 to make theVW-Porsche 914 and 914-6,
whereby the 914-6 had a Porsche engine, and the 914 had a
Volkswagen engine, in 1976 with thePorsche 912E (USA only) and
thePorsche 924, which used many Audi components, and was built at
Audi'sNeckarsulmfactory.Porsche 944swere also built
there,[18]although they used far fewer Volkswagen components. The
Cayenne, introduced in 2002, shares its chassis with theVolkswagen
Touaregand theAudi Q7, which is built at theVolkswagen Group
factoryinBratislava,Slovakia.Corporate restructuring
A 911 before the factory in which it was assembled, Porschewerk
Stuttgart (right), and the manufacturer's central dealership,
Porsche Zentrum Stuttgart (left).Porsche SE was created in June
2007 by renaming the old Dr. Ing. h.c. F. Porsche AG, and became a
holding company for the families' stake in Porsche Zwischenholding
GmbH (50.1%) (which in turn held 100% of the old Porsche AG) and
Volkswagen AG (50.7%).[19][20]At the same time, the new Dr. Ing.
h.c. F. Porsche AG (Porsche AG) was created for the car
manufacturing business.In August 2009, Porsche SE andVolkswagen
AGreached an agreement that the car manufacturing operations of the
two companies would merge in 2011, to form an "Integrated
Automotive Group".[21][22]The management of Volkswagen AG agreed to
50.76% of Volkswagen AG being owned by Porsche SE in return for
Volkswagen AG management taking Porsche SE management positions (in
order for Volkswagen management to remain in control), and for
Volkswagen AG acquiring ownership of Porsche AG.As of the end of
2013, the 50.76% control interest in VW AG is the predominant
investment by Porsche SE, and Volkswagen AG in turn controls brands
and companies such
asVolkswagen,Audi,SEAT,koda,Bentley,Bugatti,Lamborghini, Porsche
AG,Ducati, VW Commercial Vehicles,Scania,MAN, as well as Volkswagen
Financial Services.[23]Dr. Ing. h.c. F. Porsche AG(which stands
forDoktor Ingenieurhonoris causaFerdinand
PorscheAktiengesellschaft), as a 100% subsidiary of VW AG, is
responsible for the actual production and manufacture of the
Porsche automobile line. The company currently producesPorsche
911,BoxsterandCaymansports cars, theCayenneand Macansport utility
vehicles, the four-doorPanamera, and the918 Spydersuper
car.SubsidiariesPorsche AG has a 29% share in German engineering
and design consultancy Bertrandt AG[24][25]and 81.8% ofMieschke
Hofmann und Partner.[26]Wholly owned subsidiaries of Porsche AG
include Porsche Consulting GmbH.Production and salesThe
headquarters and main factory are located in Zuffenhausen, a
district inStuttgart, but the Cayenne and Panamera models are
manufactured inLeipzig, Germany, and parts for the SUV are also
assembled in theVolkswagen Touaregfactory inBratislava,
Slovakia.[27]Boxster and Cayman production was outsourced toValmet
Automotivein Finland from 1997 to 2011, and in 2012 production
moved to Germany.[28]In 2008, Porsche reported selling a total of
98,652 cars, 13,524 (13.7%) as domestic German sales, and 85,128
(86.3%) internationally.The company has been highly successful in
recent times, and indeed claims to have the highest profit per unit
sold of any car company in the world.[29]Table of profits (in
millions of euros) and number of cars produced. Figures from 2008/9
onwards were not reported as part of Porsche SE.[30]Year
endingRevenuePre-tax profitProductionSales
31 July 20024,857m829m55,05054,234
31 July 20035,583m933m73,28466,803
31 July 20046,148m1,137m81,53176,827
31 July 20056,574m1,238m90,95488,379
31 July 20067,273m2,110m102,60296,794
31 July 20077,368m5,857m101,84497,515
31 July 20087,466m8,569m105,16298,652
31 July 2009?m-2,559m76,73975,238
31 July 20107.79bN/A89,12381,850
31 December 20109.23b1.67b[31]N/A97,273
31 December 2011[31]10.9b2.05b127,793116,978
31 December 201213.9b2.44b151,999143,096[32]
31 December 201314.3b2.78b165,808162,145[33]
Production compositionOf the 165,808 cars produced in the 2013
financial year, 29,751 (17.9%) were 911 models, 28,996 (17.5%) were
Boxster and Cayman cars, 81,916 (49.4%) were Cayennes, 24,798
(15.0%) were Panameras. There were 312 Macan and 35 918 Spyder
models also reported.[33]The production figures of sports cars were
quite similar to the 2001/2 totals when 33,061 Porsche 911 and
21,989 Boxsters were produced.North American salesAnnual sales
20032005
model2003[34]2004[35]2005[36]
units% of totalunits% of totalunits% of total
911(996)9,935 (18%)33%10,227 (3%)31%10,653 (4%)31%
Boxster6,432 (38%)21%3,728 (42%)11%8,327 (123%)25%
Cayenne13,66145%19,134 (40%)57%14,524 (24%)43%
total30,028 (33%)33,289 (11%)33,859 (2%)
Annual sales 20062008
model2006[37]2007[38]2008[39]
units% of totalunits% of totalunits% of total
911(997)12,702 (19%)35%13,153 (4%)36%8,324 (37%)30%
Boxster4,850 (42%)14%3,904 (24%)11%2,982 (24%)11%
Cayman7,31320%6,249 (17%)17%3,513 (44%)13%
Cayenne11,141 (23%)31%13,370 (20%)36%12,898 (4%)46%
total36,095 (7%)36,680 (2%)27,717 (24%)
Annual sales 20092011
model2009[40]2010[41]2011[42]
units% of totalunits% of totalunits% of total
911(997)6,839 (17.8%)35.00%5,735 (16.1%)22.65%6,016
(5.0%)20.72%
Boxster&Cayman3,875 (39.4%)19.00%3,499 (9.3%)13.84%3,150
(9.02%)10.86%
Panamera1,2476.33%7,741 (520.8%)30.57%6,879 (11.13%)23.70%
Cayenne7,735 (31.0%)39.27%8,343 (7.9%)32.94%12,978
(55.55%)44.72%
total19,696 (24.3%)25,320 (28.6%)29,023 (15%)
Annual sales 20122014
model2012[43]2013[44]2014
units% of totalunits% of totalunits% of total
9118,52824.34%10,44224.67%
Boxster&Cayman3,3569.58%7,95318.79%
Panamera7,61421.73%5,42112.81%
Cayenne15,54544.36%18,50743.73%
total35,043 (21%)42,323 (17%)
ModelsSee also:Category:Porsche vehiclesandPorsche type
numbersThe current Porschemodel rangeincludes sports cars from
theBoxsterroadsterto their most famous product, the911. TheCaymanis
acoupotherwise similar to the Boxster. TheCayenneis Porsche's
mid-size luxurysport utility vehicle(SUV). A high performance
luxurysaloon/sedan, thePanamera, was launched in 2009.Note: models
inboldare current modelsConsumer models Porsche 911 Carrera S
(997), Porsche Cayman (981), Porsche 911 Turbo S (991) and Porsche
911 SC Porsche Boxster Porsche Panamera inGermany Porsche Cayenne
inGermany 2015 Porsche Macan Porsche 918 Spyder 356
9114-seatcoupe,targaandcabriolet 911 GT1 Straenversion 912 914 918
Spyder 924 9284-seatgrand tourer 930 944 959 968 964 993 996 997
991 Boxster(986,987,981) 2-seatroadster(Base, S, GTS) Carrera GT
Cayman(987,981) 2-seat coupe (Base, S) CayenneSUV MacanSUVCrossover
Panamera4-seat sports sedanRacing models 64 360 Cisitalia 550
Spyder 718 787 804 904 906 907 908 909 Bergspyder 910 917 918 RSR
919 hybrid 934 935 936 956 961 962 Porsche-March 89P WSC-95 /
LMP1-98 LMP2000(neverraced) RS Spyder (9R6)Prototypes and concept
cars
Porsche Boxster concept Porsche 114 Porsche 356/1 Porsche
695(911 prototype) Porsche 901(911 prototype) Porsche 916(flat-6
914) Porsche 942 Porsche 959 Prototype Porsche 969 Porsche 989
Porsche Boxsterconcept Porsche C88 Porsche PanamericanaTractors
Porsche Diesel Super Porsche Type 110 Porsche AP Series Porsche
Junior(14hp) Porsche Standard(25hp) Porsche Super(38hp) Porsche
Master(50hp) Porsche 312 Porsche 108F Porsche R22Hybrid and
electric vehiclesFor details on a Porsche 911-based all-electric
car, seeERuf Model A.In 2010 Porsche launched theCayenne S
Hybridand announced thePanamera S Hybrid, and launched thePorsche
918hypercar in 2014, which also features a hybrid system. Also a
plug-in hybrid model called thePanamera S E-Hybridwas released in
October 2013 in the United States,[45][46]and during the fourth
quarter of 2013 in several European countries.Porsche developed a
prototype electricPorsche Boxstercalled the Boxster E in
2011[47]and a hybrid version of the 911 called the GT3 R Hybrid,
developed withWilliams Grand Prix Engineeringin 2010.[48]In July
2014 Porsche announced the launch by the end of 2014 of thePorsche
Cayenne S E-Hybridaplug-in hybrid, which will displaced the Cayenne
S Hybrid from the line up. The S E-Hybrid will be the first plug-in
hybrid in the premiumSUVsegment and will allow Porsche to become
the first automaker with three production plug-in hybrid
models.[49]Aircraft enginesSeePorsche PFM 3200.MotorsportMain
article:Porsche in motorsport
TheMartini Racingblue and green "psychedelic" livery on a 1970
917K. This car raced atWatkins Glenin 1970.Porsche is the most
successful brand inmotorsport, scoring a total of more than 28,000
victories, including a record 16 constructor wins at the24 Hours of
Le Mans. Porsche is currently the world's largest race car
manufacturer. In 2006, Porsche built 195 race cars for various
international motor sports events. In 2007, Porsche is expected to
construct no fewer than 275 dedicated race cars (7 RS Spyder LMP2
prototypes, 37 GT2 spec 911 GT3-RSRs, and 231 911 GT3 Cup
vehicles).[50]Pronunciation of "Porsche"In keeping with the family
name of founderFerdinand Porsche, the company's name is
pronounced[p]in German, which corresponds to/pr/porsh-in
English,[51]homophonouswith the feminine namePortia. However, in
English it is often pronounced as a single syllable/pr/porshwithout
a final//. InGerman orthography, word-finaleis notsilentbut is
instead anunstressedschwa.ReputationIn a survey conducted by
theLuxury Institutein New York, Porsche was awarded the title of
"the most prestigious automobile brand". 500 households with a
gross annual income of at least $200,000 and a net worth of at
least $720,000 participated.[52]Porsche won theJ.D. Power and
AssociatesInitial Quality Study (IQS) in 2006, 2009, 2010, and
2014.[53]ReliabilityA Canadian study in 2011 revealed that 97.4
percent of Porsches from the last 25 years are still on the
road.[54]In 2014, theCaymanandBoxstermade the Consumer Reports list
for most reliable vehicles on the road.[55]Porsche's 911 has been
officially named by the Technischer berwachungsverein (Technical
Inspection Association) as Germany's most reliable car.[56]SUV
receptionAccording toCNBC, even an at-the-time questionable foray
into the SUV market with the Cayenne in 2003, could not damage
Porsche credibility.[57]In 2009,The Timesjournalist Andrew Frankel
says on one level, it is the world's best 4x4, on another, it is
the cynical exploitation of a glorious brand that risks long-term
damage to that brand's very identity in the pursuit of easy
money[58]with his verdict being "Great car, if only it wasn't a
Porsche".[58]In 2015, US News ranked the Macan as the best luxury
compact SUV in its class.[59]See also CTS Car Top Systems List of
German cars List of Porsche engines Porsche Club of America Porsche
Museum, Stuttgart Porsche type numbers Porsche VIN numbers
Companies portal
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