PORSCHE

Porsche AG, or often shortened to Porsche, is a German manufacturer of automobiles majority owned by the Austrian Porsche and Piëch families. It was founded in 1931 by Ferdinand Porsche, an Austro-Hungarian engineer, born in Maffersdorf (Vratislavice), Bohemia (now part of the Czech Republic) who also designed the first Volkswagen. The company is headquartered in Zuffenhausen, a city district of Stuttgart, Baden-Württemberg. They currently produce 911 (997), Boxster, and Cayman sports cars and Cayenne sport utility vehicles.

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Porsche was awarded the title of the most prestigious automobile brand by Luxury Institute, New York; it questioned more than 500 households with a gross annual income of at least US $200,000 and a net worth of at least US $720,000 in May 2006 survey. The current Porsche lineup includes sports cars from the Boxster roadster to their most famous product, the 911. The Cayman is a hard top car similar to the Boxster in a slightly higher price range. The Cayenne is Porsche's mid-size luxury SUV. The Carrera GT supercar was phased out in May 2006. Future plans include a high performance luxury saloon/sedan, the Panamera.

Porsche was awarded the 2006 J.D. Power and Associates award for highest Nameplate Initial Quality Study (IQS) of automobile brands. As a company, Porsche is known for weathering changing market conditions with great financial stability, while retaining most production in Germany during an age when most other German car manufacturers have moved at least parts of their production to Eastern Europe or overseas.

Porsche has for many years offered consultancy services to various other car manufacturers. Studebaker, SEAT, Daewoo, Subaru and Yugo have consulted Porsche on engineering for their cars or engines. The Lada Samara was partly developed by Porsche in 1984. Porsche also helped Harley-Davidson design their new engine in their newer V-Rod motorcycle.