The History of Porsche Automobil Holding SE
Updated September 2, 2018
Commonly known as just Porsche, and you thousand seven became a holding company. In August 2009 both Porsche and Volkswagen would come to an agreement to merge the two companies by 2011. Founded in 1931 under Ferdinand Porsche this innovative company from Stuttgart Germany would receive his first automotive design as chairman of Volkswagen which would be the Volkswagen Beetle. During World War II Ferdinand Porsche would work on designs for heavy tanks the German military though is designs would lose out to the Henschel & Son Company. After World War II ended Porsche was arrested but not tried for war crimes and imprisoned for 20 months. During these months of imprisonment Ferdinand would work on his designs while his son Ferry Porsche would also start on a new design.
The first prototype under the now Porsche named car company would be the 356. The 356 utilized several parts from the Volkswagen Beetle and would become road certified in 1948. And thanks to preorders production would begin. In 1951 Berlin order would die from a stroke therefore placing his eldest son Ferry Porsche in a position to control the company. In the early 50s and 60s Porsche would enter into motor racing with its 550 Spyder. Company would have some access and would soon follow with the launch of the six-cylinder Porsche that utilized a horizontal boxer engine. This vehicle would be inspired for rallies, racetracks, and road going cars. The result would be Porsche’s most iconic car the 911. The 911 was first launched as a 901 in 1963.
The late 60s Porsche would continue to be involved heavily in motorsports racing and would begin to solidify itself as a top contender in the world racing. Porsche cars would be victorious in the Nurburgring 1,000km and Targa Florio. In 1968 Porsche would achieve its first victory at the 24 hours of Daytona in its racing series 907-8. In 1978 a Porsche 917 would take the checkered flag at the 24 hours of Le Mans.
Though the Porsche racing scene was very successful in helping to make a name for the company that would survive history, the manufacturing side of the Porsche was not going as smoothly. Throughout the 1980s Porsche would go through several CEOs of the company until Dr. Wendelin Wiedeking would take over the company as acting CEO in 1993 it would help to turn around the company into a an efficient and profitable company once again. In 1998 Ferdinand Porsche’s eldest son Ferry Porsche would die at the age of 88 and leave behind an incredible legacy and would also be the year of introduction the Cayenne. Porsche would also rack up a double victory at Le Mans making it the company’s 16th overall win.
In 2005 Porsche would establish an 18.65% stake in the Volkswagen AG, the two companies of Porsche and Volkswagen would often collaborate on projects together. This would help to keep Volkswagen and being taken over by several other automotive corporations at that time. By 2007 Porsche would continue buying into Volkswagen AG thus boosting its shares to nearly 31% then 35% by 2008. This would send investors as well as employees into thinking that a takeover was inevitable. By 2009 Porsche and Volkswagen would merge with each other.
Today Porsche sales are continually rising with the introduction of popular new models such as the Cayenne and Panamera. The company has been awarded as the most prestigious automobile luxury brand. And continually wins awards on its initial quality study. During the company’s history, Porsche has produced tractors, aircraft engines, and many different race cars and is currently working with companies such as Toyota on a hybrid designs for both consumer and racing purposes. The company now employs over 12,000 individuals and has five different models several different trim levels as well as a six model on its way.
The current Porsche models include:
Today Porsche produces over 100,000 vehicles annually and continues to rise in overall production numbers as popular models such as the Cayenne and Panamera rise in sales globally. Porsche just recently announced its third-generation Boxster to be released as well as an upcoming redesign on the Porsche Cayman which should help boost sales annually.
Categories: Production Cars