The Porsche AG is a German vehicle manufacturer headquartered in Stuttgart and is owned by Volkswagen AG while the major stake of latter owned by Porsche Automobil Holding SE. The company was founded in 1931, offering motor vehicle development and consulting. The first Porsche car was built in 1939. Now it produces high-performance luxury sports cars, SUVs and sedans. Porsche is one of the most successful brands in motorsport and one of the world's largest race car manufacturers.