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In March 2002, Porsche increased its stake to 51% and MHP became a subsidiary of Porsche AG. In June 2003, Porsche further increased its investment to 74.8% and once again in 2011 to 81.8% and in 2023 to 100%. CEO Dr.-Ing Hofmann sold the remaining 18.2% ownership stake to Porsche in 2023.
Volkswagen, Porsche's parent company, posted an 8.3% decline in sales in China, its largest market, in 2024. Mercedes reported a 7% annual decline, while their Japanese rivals Toyota and Honda ...
Meanwhile, Porsche, owned by Volkswagen, said it would shrink its Chinese dealer network amid plunging profits and a 29% slide in sales in China in the nine months to September 30.
Porsche Engineering Group has been re-organized into Porsche Consulting (subsidiary of Porsche AG) and Porsche Engineering (subsidiary of Porsche SE). Porsche Engineering has offered consultancy services to various other car manufacturers for many years including Audi, Mercedes-Benz, Opel, Studebaker, Lada, SEAT, and Zastava Automobiles.
Globally, it is one of the longest-serving and largest Porsche dealer groups. [12] As Porsche China's Dealer of the Year for the ninth consecutive year in 2023, Jebsen Motors delivered more than 11,000 cars to the Chinese mainland, Macau and Hong Kong in 2023, representing approximately 12 percent of Porsche's total regional sales during this ...
Porsche’s first-quarter deliveries fell 24% from a year earlier while Ferrari shipments to China dipped 25%. Sales for BMW and Mercedes-Benz also decreased year over year, the Wall Street ...
Dr. Ing. h.c. F. Porsche AG Headquarters in Stuttgart Company type Public Traded as FWB: P911 DAX component ISIN DE000PAG9113 Industry Automotive Founded 1931 ; 94 years ago (1931) in Stuttgart, Germany Founder Ferdinand Porsche Headquarters Stuttgart, Germany Area served Worldwide Key people Wolfgang Porsche (chairman) Oliver Blume (CEO) Products Automobiles Production output 321,321 vehicles ...
The new vehicles add to China’s crowded auto market — the world’s largest — which has seen a price war in recent months due to fierce competition and high inventories.