annual production of 500, they had already produced 78,000 units by 1967. Ferdinand Porsche's motto was to produce automobiles which had to be reliable and of high-quality sports cars, of a high utilitarian value.Porsches most recognized involvement in car races began at 24 Hours of Le Mans, on June 1951, when an improved version of the 356 debuted on this track and won in its category. On successive years, Porsches winning contribution to Le Mans is regarded as fundamental for the own existence of the circuit. Later, in 1959, Porsche won for first time an event of the World Sportscar Championship, at Targa Florio, while a Porsche 917 would achieve the first Le Mans win finally in 1970. Porsche - Type 911 (1963) At the demand of Porsche's fans, the company began planning a successor to the 356. The project was originally called Porsche 901. Ferdinand Alexander Porsche (who was also nicknamed "Butzi") and Ferdinand Porsche's nephew took charge on designing the new model. The first units were manufactured in 1962. However, Peugeot pushed legally for a change of the name, due to its registered trademark on automobile names with a zero amid two numbers. The model was renamed Porsche 911. Over time, it has evolved, but still kept the general shape and architecture since the beginning with a rear-mounted high-performance engine. On 11 May 2017, the millionth example was built. Porsche plc Following his father's death in 1951, Ferry Porsche was the most responsible official of the company, as general manager, the chairman of the board of management. In 1972, he decided to transform the Porsche Company (which was a limited partnership) into a public concern, also by merging all the three enterprises which constituted it:Dr. Ing. h.c. F. Porsche KG, from StuttgartVW-Porsche Vertriebsgesellschaft, from LudwigsburgPorsche Konstruktion KG, from Salzburg Additionally, Ferdinand Porsche stepped down from the chairmanship and became honorary chairman of the supervisory board. In fact, he continued controlling the company as such. He remained in that position until his death In 1998. Ferdinand Alexander Porsche took his place as general manager. The enterprise became a public limited company (plc), the Porsche GmbH. Nevertheless, the two deeply seated families, Porsche and Piëch, assured the possession yet of most of the shares. This status has also been kept through the years, until recently. Later years In 1989, Ferdinand Porsche retired definitively from involvement with the company he created,