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Volkswagen and Porsche agree new structure
May 11 2009Car manufacturers VOLKSWAGEN and Porsche have come to an agreement over the development of an integrated automotive group.
Under the terms of the plan, the ten brands involved will retain their individual identities, but increased efforts will be made to bring the management structures closer together so as to deliver efficiency savings and boost the overall company's new car sales.
"In the final structure ten brands shall stand below an integrative leading company alongside each other, whereby the independence of all brands and explicitly also of Porsche shall be ensured," a statement from Porsche explained.
The company added: "It is the aim to develop a corresponding basis for decision-making on the future structure of the common group within the next four weeks."
It is hoped the move will increase the stability in the car market as new car sales have slumped over recent months due to the impact of the recession, although sales of used cars have increased as more people look for a cheaper option.
German car manufacturer Daimler was recently bought by Italian auto giant Fiat, as consolidation in the car market continues.
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