WILL VW AG TRANSITION TO A HOLDING COMPANY? Well that didn't take long. The Volkswagen Group allowed Porsche to partially spin off and do its own IPO, and now Porsche is worth more than the VW Group. 85 billion euros in market cap for Porsche to 77 billion for VW. Think about it. A small company that sells about 280,000 cars a year is worth more than its parent company that sells nearly 9 million vehicles a year. As we reported yesterday, VW's CEO Oliver Blume wants all the company's brands to prepare for an IPO. He calls it a training exercise, but that's got some analysts thinking that VW AG may turn itself into a holding company and let each of its brands run themselves independently… kind of like how General Motors operated from roughly 1920 to 1970–when GM was great.