Ferdinand Porsche founded Porsche in Stuttgart in 1931.
The first Porsche introduced in 1948 was Porsche 356. Today they have evolved to produce new more modern models, more comfortable, fast and with more extras ensuring a better experience such as 911, Cayenne, Boxster, Cayman, Panamera and 911 GT1.
The company has approximately 24,500 employees who contributed to the net income of 2.335 billion euros in 2015. Volkswagen AG owns Porsche and other brands such as Audi, Lamborghini, Bugatti, Bentley, Skoda, Seat, Ducati, MAN, Scania, VW Commercial services, Volkswagen and Volkswagen Financial Services.
In 2012 the production was moved to Germany. In 2015 Porsche sold approximately 220,000 cars worldwide, 30 000 of which sold in Germany.
During the period from 1948 to 1965, they change the cylinder head and start to use steel instead of aluminum in the manufacturing.
The company receives permission from the German government to design the car for the people from the Volkswagen brand, whereas they invent Volkswagen Beetle.
The Beetle becomes one of the most successful car design of all time.
The designing of the car results in close cooperation between the two companies for years.
More precisely some of the Porsches are being built from components from Audi, as Volkswagen owns the company, Audi.
The cooperation results in parts used from Audi as components for building Porsche 912E and the Porsche 924. They were made in Audi’s factory together with Porsche 944.
The Volkswagen Beetle then was turned into a military version, with approximately 52 000 Kubelwagen and 16 000 Schwimmwagen being produced during World War 2.
Porsche is also being involved in creating a few tanks during the World War 2. At the end of World War 2, they lose their factory in Wolfsburg. After that, the founder is being sentenced of 20 months in jail during which his son Ferry Porsche takes the command and decides to design a car for his likes and more precisely the model 356 launched in 1948.
On January 1951 just before the creation of Baden-Wurttemberg, the founder Ferdinand Porsche dies. After his death, his son Ferry Porsche becomes in charge of the design for the 911 model, and then the responsibility is shared with his oldest son Ferdinand Alexander Porsche.
In 1972 the company’s legal form was changed, and shares are ready to be placed on the market for sale after the knowledge Ferdinand Porsche acquires from Honda and changes his believes that it is not a good idea to have family members in the company.
Executive board from outside is hired, and the family members became Supervisory Board which has forced them to leave the company.
Ferdinand Alexander Porsche found his own company for a luxury design on sunglasses, watches, furniture, and others.
Ferdinand Piech, the son of Ferdinand Alexander’s wife who previously participated in the development of the company and the racing cars 911, 908, 917 also opens his own company for engineering where he invents a five-cylinder-inline engine for Mercedes-Benz.
Then he moved to Audi, from where he becomes a Chairman of Volkswagen Group.
In the 1990s Porsche starts exchanging information with Toyota, because of their curiosity of the Japanese methods for manufacturing and efficiency.
In 2002 new production facility is opened in Leipzig, Germany which later on contributes to approximately 50% of the production. In October 2017 Porsches passports are issued, which is a monthly subscription to give access to better insurance, maintenance and also ensures other benefits.
The customers can now also access Porsche ’s vehicles instead of buying them or through leasing.
Survey made in New York among the people with annual gross income higher than 200 000 $ has qualified the Porsche brand as “the most prestigious automobile brand.” Their quality is being also noticed in 2006, 2009, 2010, and 2014 when they won the Initial Quality Study by J.D. Power and Associates.
The research has shown that Porsches cars are reliable, with long term value, with 97.4% of all the cars sold from the last 25 years being still on the road.
What is more is that some of the models like Cayman and Boxster are awarded for being the most reliable vehicles among all in 2014.
Porsches cars are often called by specialists the most reliable German vehicle. The brand is also the biggest race-car manufacturer in the world.
Porsche owns approximately 82% of the German company Mieschke Hofmann Und Partner which is specialized in IT and process consulting in the Automotive and Manufacturing industry.
Porsche also owns about 30% in Bertrandt AG which is a company for German engineering and design consultancy. The company remains highly successful with the highest profit per unit sold in the industry in the world.
In 2017 were produced at all approximately 247 000 vehicles, 32 000 of which were model 911, 25 000 of which Boxster combined with Cayman, 64 000 Cayennes, 28 000 Panamera and 97 000 Macans. The highest sales the company made was recorded recently in November 2016 in North America with more than 5,500 cars sold during the month.
In 2010 Porsche introduces their first hybrid cars Cayenne S Hybrid and Porsche 918 in 2014. There were rumors and reports in the 1990s around their “cooperation” with Honda that Honda supports them with hybrid technology.
They develop later on a few more different models, and in 2017 Porsche installed their first charging station for their Porsche Mission E. The station is recognized as the fastest charging station in the world, being able to charge the vehicle within 20 minutes fully.
The company is now working on developing such stations also for their other electric cars.