Porsche AG was founded in 1931 by Ferdinand Porsche in Stuttgart, Germany. Originally an engineering consultancy, Porsche produced its first car under its own name — the 356 — in 1948. The 911, introduced in 1963, became one of the most enduring sports car designs in history. Porsche became a subsidiary of Volkswagen Group in 2012, though the Porsche and Piëch families retained significant ownership. In Southeast Asia, Porsche has dedicated market operations in Singapore, the Philippines, and Thailand, with the Cayenne being the volume leader in the region.