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VW to Own Porsche; New Panamera Stillborn


VW to Own Porsche; New Panamera Stillborn

Well that didn’t work out so great. The story of how Porsche, led by a megalomaniac CEO, tried to take over massive Volkswagen, failed, financially sank, and was then purchased by VW will be taught in business schools for decades to come. What will get lost in the mix is the story about the hideous looking Panamera sedan being killed before it ever got a chance to flop to its full potential.

VW announced on Monday that it would immediately kill both the Porsche Cayenne SUV and the bizarre looking, answer to a question no one asked, Panamera sedan. The sedan was part of the grand vision of outsed CEO Wendelin Wideking, who was looking to expand the company’s scope far beyond sports cars. If the Panamera is any indication of his “vision,” the company employees should be glad they are being bought and not given the chance to go out of business.

The Panamera sedan, pictured with this story, represents several years of work for Porsche and untold millions in development and engineering costs, so the decision to cease its existence immediately is kind of a shocker. Apparently, VW is looking to keep the company as a sports car builder and focused on just that.

Epic fail is a totally over-used term these days, but boy does this scenario qualify for Porsche. Read about it via Edmunds by clicking here.


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