{"id":605,"date":"2009-07-22T00:00:00","date_gmt":"2009-07-22T00:00:00","guid":{"rendered":"http:\/\/blog.njstateauto.com\/auto-industry-news\/german-automakers-vie-for-control-as-consumers-look-for-used-cars-in-new-york\/"},"modified":"2009-07-22T00:00:00","modified_gmt":"2009-07-22T00:00:00","slug":"german-automakers-vie-for-control-as-consumers-look-for-used-cars-in-new-york","status":"publish","type":"post","link":"https:\/\/www.njstateauto.com\/blog\/german-automakers-vie-for-control-as-consumers-look-for-used-cars-in-new-york\/","title":{"rendered":"German automakers vie for control as consumers look for used cars in New York"},"content":{"rendered":"

Two intertwined German automakers are locked into a negotiations struggle over who will own whom, and buyers looking at used cars in New York<\/a> may soon see Volkswagen<\/a> take control of Porsche.<\/p>\n

The principal problem in trying to understand what’s been happening is that several people are top shareholders in both organizations, and that means that a potential deal could involve anything from a sale of Porsche to Volkswagen, or to Qatar-based investors, reported Reuters.<\/p>\n

There are two large numbers that have to be factored in: the taxes from the deal would be be well over $4 billion to merge the two automakers, and the debt of Porsche’s parent company which is more than $10 billion, according to the news provider.<\/p>\n

A combination of the two firms would bring makes like Porsche, Audi<\/a> and Volkswagen all under the same roof, but sources told Bloomberg that a deal isn’t likely until July 29, at the earliest.<\/p>\n

“This drama doesn’t seem to end,” said Stefan Bratzel, head of the Center of Automotive Research Institute in Bergisch Gladbach, told the wire service. “Neither Porsche nor Volkswagen can afford any further distraction.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Two intertwined German automakers are locked into a negotiations struggle over who will own whom, and buyers looking at used cars in New York may soon see Volkswagen take control of Porsche. 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