Porsche News changes in leadership

[Scandinavian]

Well lets see if this will change anything?

https://apple.news/AC_VNWQmUQQmBB8Xm46Ob5Q

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[chun]

Well lets see if this will change anything?

https://apple.news/AC_VNWQmUQQmBB8Xm46Ob5Q

This just smells like scape-goating someone for all the issues.

“all the bad products, all the production issues, all that is bad was because of them, and now that they are gone all will be good”

in an attempt to please shareholders and kick the can of issues down the road to the next people

as it is done all the time in the corporate world

Porsche’s problem is that they are not competitive in China, and new leadership won’t magically fix that

 

[Tooney]

A different link to the story: Porsche starts talks to end CFO, sales chief contracts
and Porsche announcement: Possible changes in the Executive Board

 

[daveo4EV]

A different link to the story: Porsche starts talks to end CFO, sales chief contracts
and Porsche announcement: Possible changes in the Executive Board

relation to an amicable early termination of Mr. Meschke’s and Mr. von Platen’s appointment as members of the Executive Board of Porsche.

that's just the way some of my ex-girlfriends approached me - cause when two parties are "together" and then one party wants the other to "leave" - it's always "amicable"

ROFL

thank you we're done with you! it's not you it's us! you really are great executive board members, just not "our" executive board members.

well with out changing people there is no change - so we'll see - but yeah all this means is VW/Audi/Porsche are "in transition" - it's going to get worse before it gets better I'm sure.

 

[Tooney]

The news and announcement were made on Sunday. shhhhh.....
It's just the top sales and finance guys. Nothing to see here.

 

[chun]

I wonder what direction the shareholders board wants Porsche to follow.

To keep trying in China, biggest auto market, by making better EVs; or switch to maintenance mode with more ICE cars like Trump wants.

I fail to see how changing these 2 people will do anything, unless these 2 were pushing in a direction completely different than what the shareholders want

 

[Scandinavian]

I wonder what direction the shareholders board wants Porsche to follow.

To keep trying in China, biggest auto market, by making better EVs; or switch to maintenance mode with more ICE cars like Trump wants.

I fail to see how changing these 2 people will do anything, unless these 2 were pushing in a direction completely different than what the shareholders want

Agree! CFO was maybe pushing too much for his 20% margin, but they should have done much harder cost reduction programmes.

I think they have priced them selves out of the market with Macan and J1.ll! The price increases they have done on Taycan have zero justification from cost perspective.

 

[daveo4EV]

Agree! CFO was maybe pushing too much for his 20% margin, but they should have done much harder cost reduction programmes.

I think they have priced them selves out of the market with Macan and J1.ll! The price increases they have done on Taycan have zero justification from cost perspective.

pricing in the Taycan refresh is a disaster IMHO - unjustifiable

 

[Mr.Smith]

I wonder what direction the shareholders board wants Porsche to follow.

To keep trying in China, biggest auto market, by making better EVs; or switch to maintenance mode with more ICE cars like Trump wants.

I fail to see how changing these 2 people will do anything, unless these 2 were pushing in a direction completely different than what the shareholders want

How can a non Chinese company compete in China without giving up their company?

 

[Tooney]

I wonder what direction the shareholders board wants Porsche to follow.

To keep trying in China, biggest auto market, by making better EVs; or switch to maintenance mode with more ICE cars like Trump wants.

I fail to see how changing these 2 people will do anything, unless these 2 were pushing in a direction completely different than what the shareholders want

Porsche shareholders = Porsche-Piech family

So, who owns Porsche today? Volkswagen Group – a company whose relationship with Porsche goes back to the 1930s, when Ferdinand A. Porsche was the lead engineer on the Beetle project for the VW – owns 75 per cent of Dr. Ing. h.c. F. Porsche AG (the full title of the Porsche company in charge of vehicle manufacture).​

​

However, the controlling stake in Volkswagen Group AG itself (31.9 per cent of subscribed capital, 53.3 per cent of the ordinary shares) is held by another company, Porsche SE. Porsche SE is controlled by the Porsche-Piëch family. Porsche SE also own 12.5 per cent of Dr. Ing. h.c. F. Porsche AG, while 2.5 per cent is owned by the Qatari Investment Authority (as of March 2024).​

Who owns Porsche?​

And the Porsche-Piech family has to make big payments on loans it took out to retain voting control of Porsche: https://www.taycanforum.com/forum/threads/opinion-hmmm…vw-audi-porsche-may-be-in-trouble….22898/page-7#post-350884

 

[chun]

How can a non Chinese company compete in China without giving up their company?

Good products?

 

[Mr.Smith]

Good products?

As someone that relies on Chinese government, Unless an OEM is somehow linked to a Chinese OEM or works with The Party, it's not possible to complete.
How would Porsche be able to make SU7 competitor for the same price or cheaper without government support? They can't

The more time I spend in China, I would get a Zeeker 009 with a driver.
Porsche would only be a status symbol there. Porsche makes high driver engagement cars, Chinese want screen engagement with wheels.
Porsche doesn't work in China

 

[chun]

As someone that relies on Chinese government, Unless an OEM is somehow linked to a Chinese OEM or works with The Party, it's not possible to complete.
How would Porsche be able to make SU7 competitor for the same price or cheaper without government support? They can't

The more time I spend in China, I would get a Zeeker 009 with a driver.
Porsche would only be a status symbol there. Porsche makes high driver enhancement cars, Chinese want screen engagement with wheels.
Porsche doesn't work in China

They don't need to make it for the same price, because they have the badge and prestige advantage.
But they need to make it as good.
And right now chinese automakers are destroying german automakers in technology. Porsche barely released active ride, and chinese actually realased 1000x more responsive version before porsche. And the list keeps going: battery, drive train, engine, software, computer, ui, sound, comfort, space, safety, materials. Chinese automakers are beting porsche on all of these right now, and whoever says otherwise has not sat in a chinese car made in 2024.

 

[whitex]

As someone that relies on Chinese government, Unless an OEM is somehow linked to a Chinese OEM or works with The Party, it's not possible to complete.

Hmm.... so you posit that the trade restrictions banning China from buying the latest Nvidia chips were pointless, because the Chinese would have never bought those chips anyways as they are made by a non-Chinese company? All those parts that the Chinese companies are buying from the west, such electronics and computers, or avionics for their Comac planes, that's also just a made up stories, because the companies supplying those (think Boeing and Airbus) are not Chinese so they could not possibly compete? All those Teslas which have been selling in the Chinese market must mean Tesla is Chinese, right (and yes, their volume has dropped recently too, but they've still sold a ton of cars there in the last 5 years for example)?

Nice conspiracy on your part, but while there is government pressure in Chine to buy domestic, it's not different than similar pressures in the US or other countries. In the end, consumers want the best value (to them) products. The reason Porsche is selling less in China not because the Piech and Porsche families declined to pledge allegiance to the Chinese Communist Party. The simple fact of the matter is Chinese companies are have better product offerings, and the prestige of a Porsche badge does not offset the difference in the overall value to the consumer. This is also why the west is instilling massive trade barriers to keep the Chinese companies, such as car companies, from decimating the western carmakers. Yes, there is talk about Chinese government subsidizing their companies, but it's not like US government has not given tons of money to Tesla for example. Heck, there is a 100% tariff on China made Teslas, is that because the Chinese government subsidized Tesla in China at a higher level than US government?

 

[whitex]

I wonder what direction the shareholders board wants Porsche to follow.

To keep trying in China, biggest auto market, by making better EVs; or switch to maintenance mode with more ICE cars like Trump wants.

I fail to see how changing these 2 people will do anything, unless these 2 were pushing in a direction completely different than what the shareholders want

Sure, marketing and finances might have failed Porsche by slowly pricing themselves our of the market. Perhaps "20% profit margin" was too high if a priority resulting in decisions like "we'd rather have 20% of a small pie, than 10% of an orders of magnitude large pie". However, I somehow doubt either of these guys were responsible for Porsche being unable to get the OTA software completed, even though the OTA hardware has been shipping since the very first Taycan. This alone is must have been a huge hit to the Porsche bottom line for Taycans, and will be for Macans and even latest ICE cars. I am not saying this would have been easy - OTA is hard, combined with Porsche's lack of vertical integration it would have been a mammoth task. But mammoth tasks are exactly the kind of thing that has to be driven hard all the way from the executive level.

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