Porsche expects its global sales to grow by more than 6.5% in 2012, giving the German carmaker yet another record year in the wake of the 115,000 units sold in 2011. Sales-wise, last year was Porsche’s best result in its 80 years long history, with previous best being the 103,000 cars sold in 2007 and following the 97,000 units scored in 2010. According to Autonews.com, Porsche’s sales and marketing boss Bernhard Maier said that the global car market is expected to grow by 6.5% this year, but the manufacturer is aiming at an even better result. In 2011, Porsche’s sales went up by 67% in China, 76% in South-East Asia, by more than 40% in Russia and almost 15% in the US. “We will continue to grow in 2012, especially during the second half of the year when the new 911 is fully available in North America” Maier said.

However, life’s not going to be a bed of roses for Porsche in 2012. Bloomberg reports that Porsche Automobil Holding SE - the formal owner of automaker Porsche AG as well as several other companies - is being sued by a not-better-specified group of investment funds over the carmaker’s failed attempt at taking over Volkswagen a few years ago, seeking a compensation of about 2 billion € (approximately 1.7 billion £ - 2.6 billion $). For those who do not remember that, Porsche tried to gain control of VW in 2008 and at one point the merger seemed to be imminent, but the related financial effort resulted in Porsche accumulating so much debt that they had to turn to VW itself for help, a move that eventually led to the VW Group’s own purchase of Porsche’s stock.

According to a statement issued by the investment funds: “Porsche gained control over the price of VW common stock as it secretly built enormous derivative positions covering almost all of VW’s freely traded shares, then triggered a massive short squeeze, and finally released billions of euros worth of shares into the short squeeze for its own profit.” Obviously, several of investors lost loads of money over the failed deal, and now it looks like there is going to be a new chapter in that story. Mr. Frank Gaube, spokeperson for Porsche, already said that “the accusations are not justified and we reject them”, although he also admitted the Stuttgard-based manufacturer is yet to receive the papers concerning the lawsuit. No comments from the Volkswagen Group on the matter are currently available.

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