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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.

Autoblog Minute: Porsche goes after Tesla

Volkswagen Group Night kicks off the 2015 Frankfurt Motor Show. Autoblog's Adam Morath reports on this edition of Autoblog Minute with commentary from Autoblog's Editor-in-Chief, Michael Austin. Show full video transcript text [00:00:00] Volkswagen Group Night kicks off the 2015 Frankfurt Motor Show. I'm Adam Morath and this is your Autoblog Minute. In keeping with tradition Volkswagen Group Night will take place before the first press day of the Frankfurt Motor Show. It's here that VW will unveil all the latest innovations for each of the brands in the group's extensive portfolio. For more we go to Autoblog's Mike Austin: [00:00:30] [Michael Austin Interview] Autoblog staff is on site in Germany [00:01:00] for comprehensive coverage of the events. To check out all of our short cut videos of Volkswagen Group Night head over to Autoblog dot com slash short dash cuts. For Autoblog, I'm Adam Morath. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.

Porsche announces plan to replace 911 GT3 engines

About a month back, we reported that Porsche was suspending delivery of its 911 GT3 due to reported incidents of the engine bursting into flames. A few days later, Porsche told owners of the new track-ready models not to drive their cars and had their local dealers pick up the cars in question. Just a couple of days ago, we reported that Porsche was working on a fix, and now we have the official details.
Following an internal investigation prompted by two such incidents, Porsche has confirmed that is has identified the problem as resulting "from a loosened screw joint on the connecting rod." The loose connecting rod, Porsche found, damaged the crankcase, which in turn resulted in oil leaking and then - in at least two cases - igniting.
Our source is unaware of Porsche being contacted by GT3 owners concerned about the impact of a replacement engine on their car's collectibility or resale value.