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Arrest Warrants Issued in India for Porsche's CEO and Other Execs

Arrest Warrants Issued in India for Porsche’s CEO and Other Execs

When you work with people - and we can’t honestly find any segment of the industry that does not require it - there will always be at least one person not happy with the things you do or decide. Exactly the same happened to Porsche in India where apparently they managed to get their former dealer - Precision Cars - very angry.

In fact, things are very complicated as Precision Cars filed a criminal case against Porsche and the courts in Jaipur decided that Porsche CEO, Mattias Müller, and eight other Porsche execs can be arrested and issued warrants for said arrests.

In 2003, Porsche announced that Precision Cars would be its local distributor of cars in India. However, all of that changed in May of last year, as Porsche selected Volkswagen to be their distributor instead. Now Precision Cars claims they were not notified of the change and that leads to a breach in the contract.

Along with the criminal case against Porsche execs, the dealer also asked Interpol to help them attempt to apprehend "the bad guys." We highly doubt that Mr. Müller is sweating over this ordeal, as reports say that Porsche’s official response was “Good luck with that.”

It is pretty funny on one hand, but on the other hand, Porsche will have a lot to lose if they are forced to stop their activities in India, considering it has been a growing market in the past few years.

We’re going to make some popcorn and continue to watch this circus unfold…

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Porsche Pulls Out Of The Iranian Car Market

Porsche Pulls Out Of The Iranian Car Market

Iran may be ravaged by war and terrorism at the moment, but that hasn’t stopped Iranians from literally going mad over their automobiles. The small country in the Middle East is actually home to the 13th largest automotive industry in the world and as a result it only seems logical that car manufacturers would flood there in their droves in order to capture some of the market. Unfortunately however, that trend is reversing.

In recent months, Hyundai and Toyota both officially abandoned the country cancelling all sales, and the latest brand to exit Iran is none other than Porsche. The German brand was recently rated by consumers in the U.S. as the best German manufacturer for servicing, yet the ever-expanding brand has decided it’s in its best interests to also exit the country.

Don’t for one second however start to question why Porsche ever entered the Iranian market in the first place, as Iran contributes significantly to Porsche’s overall earnings. In fact, sales in its one dealership in Tehran reached $17 million in just the past few months, so this is definitely a big decision on Porsche’s part.

Even though Iran is facing much unrest, we are a little bit confused as to why Porsche has decided to leave so dramatically losing potentially hundreds of millions of dollars from possible future sales so hopefully, Porsche will release a press release soon with further information.

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