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Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

Car Club USA: Porsche Club of America Escape to Rushmore

The Porsche Club of America, whose motto is "it's not just the cars, it's the people," plans its annual Escape in a different city every year. This year's was particularly epic, as Porsche fans headed to the Black Hills of South Dakota for their gathering. The scenery and the history are part of the attraction, but the winding roads are the real headliner. "This road right here is the reason why we chose the Black Hills of South Dakota to do the 2015 Escape," said Ron Johnson of the Nord Stern Porsche Club as he navigated the mountain range. "These Porsches really love these twisty, curvy roads." That statement neatly sums up why the sports cars have resonated so deeply with their owners and enthusiasts for so long. In addition to the guided tours and drives around the winding terrain, the club hosts a car show. This year marks the club's 60th in the United States, and the Escape drew a wide range of Porsches of all vintages. Lloyd and Donna Nelson from Valley City, ND, arrived in their 1955 Porsche Speedster, which they purchased alongside a 1951 coupe in 1964 for a grand total of $750. Needless to say, it was a good investment – although they didn't know it at the time. "We had two children, one on the way, we were both working and I really didn't see the sense in two old cars," explained Donna. "I said, 'one of them has to go,'" to which Lloyd responded, "which one of the kids?" They sold the coupe long ago, but the speedster is still gorgeous and gets more than its fair share of stares and use. Will they win best of show? "This is what us as enthusiasts dream of," Johnson said. Watch the latest episode of Car Club USA to see how it turns out and for a snapshot of life at the Escape. Each Car Club USA episode features a different car club or event from across the US, where passionate owner communities gather to share automotive experiences and embark on incredible adventures. From Main Street cruises to off-road trails, catch all the latest car club activity on Autoblog.

Sunday Drive: An automotive flavor for every taste

Last week was flush with interesting new vehicle debuts, led by the new 2019 Hyundai Santa Fe. This crossover is entering straight into the heart of one of the world's most competitive automotive segments, and it's doing so with a fresh sense of style and a brace of new technologies. Our readers are clearly intrigued – the Santa Fe was the biggest news story of the last week on these online pages. It's fitting that a crossover generated a lot more interest than a traditional wagon, though we don't really have to be happy about it. Still, the completely new, fully redesigned Volvo V60 is worth taking another look at. First of all, it's pretty, in a traditionally Scandinavian way. Second, it's quick, with a 0-60 time of as little as 4.8 seconds. And finally, it's practical, with all kinds of room for cargo without the dynamic penalties of an unnecessary lift kit. Moving on from new vehicle debuts, we took another long look at the Honda Ridgeline. It's definitely a non-conformist pickup truck, based not on a body-on-frame platform but on a more carlike unibody design. That means it can't tow as much as some other trucks, but it also means the Ridgeline drives better than any of its more truckish competitors. It's the Swiss army knife of pickup trucks. Rounding out our coverage from last week are three sets of spy photos, each showing the interior of a hotly anticipated new model. One is a truck, one is a crossover, and the last is a sportscar. All of them are worth another look. As always, stay tuned to Autoblog this week for all the most important news in the automotive world. 2019 Hyundai Santa Fe unveiled 2019 Volvo V60 | Sleek, swift new twist on the Swedish wagon 2018 Honda Ridgeline | Pocketknife pickup is up for anything 2019 GMC Sierra interior looks just like the Silverado's 2019 Cadillac XT4 interior has actual buttons, no more touch-sensitive panel 2020 Porsche 911 992 spy shots show interior and manual transmission Cadillac GMC Honda Hyundai Porsche Volvo Truck Crossover Wagon Luxury Performance Sedan hyundai santa fe