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Dr. Ing. h.c. F. Porsche AG (shortened to Porsche or Porsche AG), is a German sports car manufacturer, founded in 1931 by Ferdinand Porsche, the engineer who also created the first Volkswagen. Dr Porsche was financially supported by count Sasha Kolowrat, a Czech aristrocrat. The company is located in Zuffenhausen, a city district of Stuttgart. The company slogan is: (Porsche,) There Is No Substitute.
Porsche has a reputation for producing high-end sports vehicles that, despite their high performance, are reliable and tractable enough to be used for daily driving, and of high manufacturing quality and durability. In a May 2006 survey, Porsche was awarded first place as the most prestigious luxury automobile brand by Luxury Institute, New York; it questioned more than 500 households with a gross annual income of at least $200,000 and a net worth of at least $750,000 (*). The current Porsche lineup includes sports cars from the Boxster roadster to their most famous product, the 911. The Cayman is basically a hard top Boxster, almost identical mechanically. The Cayenne is Porsche's mid-size luxury SUV. The Carrera GT supercar recently was phased out in May 2006. Future plans include a high performance luxury saloon/sedan, the Panamera. Also, Porsche is a leader in modern turbocharging technology, being the first to use a variable geometry turbocharger in a gasoline powered production automobile.
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 partly to Eastern Europe or overseas. The headquarters and main factory are still at Stuttgart-Zuffenhausen, but the Cayenne (and formerly the Carrera GT) is produced at Leipzig, in former East Germany. Most Boxster and Cayman production is outsourced to Valmet Automotive in Finland. The company has been highly successful in recent times, and indeed claims to be the most profitable car company in the world (in terms of profit margin per unit sold; its absolute profits would be dwarfed by Toyota) *.
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