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Porsche: Vehicle sales down 24%, revenue down 12%

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  #16  
Old 09-16-2009 | 06:07 PM
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Originally Posted by hockeylife
Not sure where this assumption of production cuts is coming from as I've not seen anything directly from Porsche or stock analysts. Unless there are layoffs in Germany, which are very difficult - almost impossible, how do you reduce production while maintaining a stable workforce?
It is also almost impossible in Germany to stay in business if you're not making money. Porsche can only afford to produce the number of cars they can sell and make a profit on. They can not afford to make cars to sell to too few buyers at 20% off sticker.
 
  #17  
Old 09-16-2009 | 08:07 PM
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If the world economic situation remains unhinged and the dollar weakens you can count on continuing slippage for Porsche AG...great cars won't save the company. Not only are the most recent sales numbers in the toilet look at the big picture. CEO Weideking just bailed (with a $73 mil severence) and his pal CFO Harter also left. The company is listing heavily to starboard with almost $15 BILLION in debt. The German economy, like all Europe, is very sick and a base 2010 turbo coupe will cost you average Deutschlander $214,007 next month. GOOD LUCK.......I really hope that this venerable marque can hang on.
 
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Old 09-16-2009 | 09:44 PM
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Originally Posted by thebland
Right! a 3 year old car in 07 would not have been 50% less... they were more like 70% of MSRP. The value on these has somewhat collapsed as of late. I had been watching the prices for a few years before I found the exact car I wanted at 'low' price.
Hard to say . Much depends on what year or model . The 993 cars held value and still do . The 996 cars on the other hand went Timberrrrrrrr!!!!! Even when the economy was up .

In fact the down economy may have strengthened 996 used market for the buyer who MUST have a Porsche and hasn't got much to spend.
 
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