Porsche is a German manufacturer of luxury automobiles, which is majority-owned by the Porsche and Piëch families. Porsche SE holds two chief assets, the first of which is Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa Ferdinand Porsche Aktiengesellschaft), often shortened to Porsche AG, manufacturer of the Porsche automobile line. The second asset is a majority stake in Volkswagen AG, the biggest car manufacturer in Europe. The company is headquartered in Zuffenhausen, a city district of Stuttgart, Baden-Württemberg.
It was founded in 1931 by Ferdinand Porsche, an Austro-Hungarian engineer born in Maffersdorf, Austria-Hungary (today Vratislavice, Czech Republic). Porsche is also known for designing the first Volkswagen, but Béla Barényi is credited with having conceived the basic design five years earlier. The company currently produces the 911 (991)sports car,the Boxster roadster, the Cayman sports car, Cayenne sport utility vehicles and the panarama sallon
In a May 2006 survey, Porsche was awarded the title of the most prestigious automobile brand by Luxury Institute, New York; it questioned more than 500 households with a gross annual income of at least US $200,000 and a net worth of at least US $720,000. The current Porsche lineup includes sports cars from the Boxster roadster to their most famous product, the 911. The Cayman is a hard top car similar to the Boxster in a slightly higher price range. The Cayenne is Porsche's mid-size luxury SUV. The Carrera GT was phased out in May 2006. They also make the four door panarama sallon.
Porsche was awarded the 2006 J.D. Power and Associates award for the highest-ranked nameplate in its Initial Quality Study (IQS) of automobile brands.