Porsche

became Europe’s most valuable automaker, overtaking parent Volkswagen after the automaker's successful initial public offering (IPO). In fact; Porsche attracted so much demand for its IPO, almost half the investors that put in orders were not allocated shares in the deal. Just a week after the IPO, with its total value reaching €82.7 billion, Porsche has overtaken Volkswagen’s valuation of €78.8 billion.

^{Oliver Blume}

• A step back: Volkswagen CEO Herbert Diess was succeeded by Porsche chief Oliver Blume earlier this year, after a supervisory board vote forced Diess to step down from his four-year tenure as Porsche and Piech families, who own over half the voting rights and a 31.4% equity stake in Volkswagen, pressed for a change at the helm.