Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back

Dr. Ing. h.c. F. Porsche AG, usually shortened to Porsche, is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans, headquartered in Stuttgart, Baden-Württemberg, Germany.

Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back

Top 100 largest companies in Russia by revenue

Top 100
Revenue(RF), mln.USD
175
Assets(RF), mln.USD
158
Capital(RF), mln.USD
128
Glob.Revenue, mln.USD
30342
Staff(RF), 2021
3393
Taxes(RF), mln.USD
3
The Company Statement
April 10, 2023

Promised to end shipments of new cars; dealerships running and warranty obligations honored. The Volkswagen Group report also mentions the agreement reached in December 2022 on the sale of Porsche showrooms in Russia to an investor unrelated to the German corporation. Let us remind you that the Porsche brand is part of the Volkswagen concern. We are talking about LLC "Porsche Russland" and LLC "Porsche Center Moscow". According to the data, the transaction assumes the possibility of repurchase of assets, but not earlier than in five years, and the deadline for repurchase is ten years. At the moment, the deal is being evaluated by the Russian government. Porsche Board Member Allegedly Seeks Deal With Putin To Rebuild Russia’s Auto Industry. In the letter obtained by Der Spiegel, Siegfried Wolf proposed to Putin that the new Volga cars be based on Skoda models.

April 11, 2023Austrian Seeks to Save Russia's Stalled Car Industry
April 08, 2023‘Spiegel’: Porsche board member offered Putin help in rebuilding car industry
March 17, 2023"There is no chance of resuming the production of cars in Russia." How VW will leave.
March 03, 2022Porsche suspends the supply of cars to Russia - News - Auto - Kommersant
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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