Porsche: Vehicle sales down 24%, revenue down 12%
#16
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?
#17
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.
#18
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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