Porsche

“I suspect, in the next couple years, they will come out with a, the next supercar, which will be, you know, look like this, and they'll only make a thousand, and it'll cost two million dollars, and it will be fully electric in two zero to 60 in one and a half …”

“So, during the week after the The collapse in October, 2008. That's when Volkswagen Group becomes the most valuable company in the world. Hedge funds have been shorting Volkswagen. You get a short squeeze that happens and the stock just goes through the roof.”

“When Peter Schutz retired, he moved to Naples, Florida, and the general counsel at Porsche and Peter Schutz were neighbors in their homes in Naples. And I, one day, he went over to his house and asked him, you know, is the story real? Did it happen? And appare…”

“Yeah, I feel that way. But it's controversial because the nine 11 is the Porsche.”

“They do over forty billion dollars a year in revenue right now. When you look at the breakdown of that, interestingly enough, two-thirds of it has come from SUVs, and there's a good amount of it that comes from the Taycan, too.”

“In return, they give that German Porsche company literally the sweetheart deal of a lifetime, a royalty on every beetle sold. Worldwide.”

“So by the time in the early 2000, when it all gets consolidated back into one company for most of the two separate histories, that was the larger company by revenue. So the Austrian Porsche company becomes the largest Car dealer network in Europe, not just for…”

“Going back to the very, very beginning of the consulting company, they started with type seven, or project number seven, because they didn't want to look like they were a brand new company.”

“That car would go on to become the Volkswagen Beetle, and the company that contracted Porsche to build and design it was Volkswagen, which was established to do so by Adolf Hitler.”

“The sticker price was 440,000 dollars, and they dropped fast. You could get them in oh eight, oh seven, oh eight, you could get them for two 50 all day long. And now you can't, there's, they don't exist under a million dollars.”

“They dipped in 91, 92 to 4100 units. That was worse than 1965 sales. They had routinely sold between 13 and 30,000 cars a year throughout the sixties, seventies, eighties. 13 and 30,000. And in the U.S. At 92, they dipped to 4100 cars.”

“September, 2005, Porsche spends four billion dollars to acquire 20% of the VW group on the open market.”

“Porsche goes from death's door, less than four hundred million euro market cap when he takes over to By 2007, Porsche's market cap is thirty two billion euros.”

“So in 1978, Furman introduces the Porsche nine, 28 with the stated intention that this is going to eventually replace the nine, 11.”

“Ferrari couldn't make the number of cars that Porsche does and maintain those margins, so that's not really a fair, like, direct comparison in terms of who their competitor is.”

“They price them at 3750 dollars, the German equivalent of 3750 dollars in the late forties. That's about 42,000 dollars today, but we're talking about war torn Europe that you're trying to sell this in.”

“Porsche is a 29% gross margin. Apple's a 43% gross margin.”

“Porsche built a Mercedes Benz, which was called the 500 E. It was a midsize sedan. Mercedes didn't have the capacity or didn't really want to do it.”

“You can do a thing today where you go to buy a Porsche and their online configurator, and they have the paint from every single Porsche ever produced in history. And so you're like, you know, there was really something about this particular nine 11 in this yea…”

“BMW, as we mentioned, 10 times more units of BMW sold than Porsches are down at 17%. In terms of gross margin, so they really aren't marking up much above their cost of goods in order to ship those cars. Mercedes a little bit better at 23%. Porsche is at 29%, …”

“You probably don't know about Adolf Rosenberger, because shortly after they start the company Rosenberger was Jewish, and he gets arrested by the Gestapo. He gets imprisoned. He eventually bribes his way out and escapes to America, but During the war, Porsche …”

“Oliver Bloom is both the current CEO of VW Group And Porsche.”

“VW does end up buying Porsche, the operating company in two tranches over three years. They buy 50% up front. Three years later in 20 11 they complete the purchase. It ends up being about eight and a half billion euros total.”

“It's, the future is electric. There will be electric versions of all these cars, and probably within our not so distant lifetimes, they will be purely electric.”

“Like, I think they'll fare better than Mercedes and BMW in a downturn, and, like, way worse than Ferrari.”

“So in the fall of 1970, Ferry and Louise together call a joint family summit... At the end of it, they come to a very, very surprising decision. They don't decide that one Ferdinand or the other is gonna take over. Instead, they make the call that the families…”

“In 1954, Porsche sells 588 cars in the U.S. Which was 40% of their entire production for the year.”

“At one point, Porsche's market cap was less than four hundred million euros.”

“The Carrera GT, in my mind, is the greatest driving car ever built.”

“And the magical, incredible, amazing thing about Porsche is they have doubled down on this strategy, It has become a huge part of their business. They generate a ton of margin on the SUVs, and it has not borrowed against their brand equity. It has increased th…”

“The Porsche re-IPO is the largest European IPO of all time.”

“While they were drawing on the brand equity to make the SUV, this was a big part of putting cash back in the bank of the brand equity.”

“Nine 11 sales stay relatively robust throughout the seventies because it's a luxury good, right? Like just like in any recession and even like sector targeted ones like the oil crisis and the auto industry for true luxury goods, like those people, like the mar…”

“It was always a weird aspect of the brand that like you actually weren't necessarily only marketing to like adults. You also had to market to like people who would cultivate this passion that you knew that would become a thing later when you weren't even in an…”

“The nine 11 Is only called the nine 11 because Peugeot of all companies had a trademark in France for any car with a model name of any number, any Roman number with a zero in the middle and then any other number.”

“Now the nine 11 is kind of playing more of a luxury car, like touring car role almost, where, you know, with the special colors and the stitching and all that, and it seems like the more Porsche has focused more of its sort of true sports car efforts on those …”

“In fact, if you get into a Boxster, which was a two seater car, it has a coat hook on the back of the seat because the nine 11 had a coat hook on the back of it. You can't put a coat in the Boxster. The seat is right up against the, but they shared everything.”

“It was a mistake, for sure. Yeah, I think probably because development started about when they started Mission E. And that was in 15, and sedans were still a big part of the market. But most brands now that are coming out with electric cars as their first car …”

“Porsche has a business right now an auction business called marked that they're running and as a, from Porsche digital, and it's fledgling to say the least.”

“My best comparison that I think I came up with is Rolex is Porsche. And I know there are different categories of price, but, like, cars are expensive things, and you do need one anyway. It's real scale manufacturing with a high-quality engineered product with …”

“The profit per car average exceeded 170,000 dollars. That is more than the entire retail price of your average luxury sedan, and even Porsche would need to sell six cars to equal the profit dollars that come from a single average Ferrari.”

“60% of Porsches sold at this point are SUVs.”

“Now, Porsche, on the other hand, China was 33% of their deliveries a few years ago, which has collapsed all the way to 15% and continues to fall.”