Porsche Denies Claims That It Knowingly Mislead Investigators Over DieselGate

Porsche Denies Claims That It Knowingly Mislead Investigators Over DieselGate
Porsche Automobil Holding SE denied it misled investors about emissions cheating at its biggest asset, Volkswagen AG, as the holding company's board members battle lawsuits and investigations tied to the carmaker's diesel scandal.

"We view all legal claims against Porsche SE related to the diesel issue as unfounded," CEO Hans Dieter

Poetsch, who is also VW supervisory board chairman, said Tuesday in a prepared speech at Porsche's annual shareholders' meeting in Stuttgart, Germany. Porsche is "convinced" that none of its board members violated stock market rules, he said.


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TheSteveTheSteve - 5/30/2017 9:53:42 AM
+3 Boost
Porsche would like you to believe that it has virtually no relations with its parent company, Volkswagen. The fact is that Porsche is very much a part of The Volkswagen Audi Group (VAG). It's VW's cash cow!

I find it inconceivable to suggest that VW just "did stuff" in secrecy, without informing Porsche, such as designing and building a sporting diesel engine with illegal emissions gadgetry, and then handing it over to Porsche for installation. Porsche has a heritage of making noteworthy engines. They have tremendous in-house expertise.

I believe "reasonable assumptions" are as follows:

(1) Parent company VW, which is now known for having a corporate culture that rules through intimidation and fear, likely had a direct influence on the Porsche company.

(2) VW and Porsche engineers likely shared information pertaining to how they can pass diesel engine emissions (illegally), and how to get away with it. Evidence that supports this allegation includes Porsche using a VW-style "defeat device", and that Porsche, like VW, keep updating and changing the illegal cheat software to avoid detection by authorities.

(3) When Dieselgate blew its lid in September 2015, Porsche executives, including The Board of Directors, could reasonably expect the fraud investigation to extend to include Porsche, and that it would discover Porsche's fraudulent emissions practices. Therefore, we can conclude Porsche execs withheld this information from their shareholders, which is the crux of this debate.

We must also note that Porsche is currently doing what VW execs did when Dieselgate blew its lid: claim the execs and The Board knew nothing of illegal doings, and the fault lies within a handful of rogue engineers. This proved not to be the case at VW (a mountain of evidence revealed that the CEO and The Board were well informed of the issue, at least a year before it went public). It appears Porsche is trying to play out this played out hand. It also appears VW desires to distance Porsche from the Dieselgate scandal, to protect their cash cow (major profit center).


Disclosure: I own a 2015 Audi Q5 (Dieselgate Edition). I aspire to own a Porsche 911. So yeah, I can still like a vehicle a lot, and point to wrongdoings by the company that made it.


dpalmodpalmo - 5/30/2017 1:37:44 PM
0 Boost
Everyone in the business do shady stuff like this. Even GM, which I'm sure we'll discover in the near future.

This isn't going to hurt Porsche one bit, just like how sales of Audi never dipped once.

Mercedes, however, is going to ruins with their latest run-in with the German authorities. It'll be a bigger crime than VW's dieselgate.


RobobotRobobot - 6/1/2017 8:37:39 AM
-1 Boost
Go see Donnie aka "Sugarpants" Thomas and his butt buddy Nate "O-Ring" Thompson in Carlsbad, CA. for all your VW DIESELGATE restitution needs.


MDarringerMDarringer - 6/1/2017 8:57:31 AM
0 Boost
Sugarpants and O-Ring sound like a match made in heaven.


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