Porsche admits it’s not invincible, posts 14% sales decline
Filed under: Euro, Porsche, Earnings/Financials
Porsche’s sales for the first six months of its fiscal year (August 1, 2008 through January 31, 2009) have decreased by 27.3% for a total of 34,000 units sold. The resulting financial effect is a 14.3% drop in revenue, or around three billion euros (just under $4 billion US).
Although Porsche execs admit that the automaker isn’t immune to the global economic downturn, it has no plans cut jobs. However, it will reduce the number of days worked at the Zuffenhausen plant in Stuttgart by 19 days this summer.
According to Porsche, one of the major factors contributing to the sales slump is a change in its model mix, specifically an increase in 911 variants leaving dealer lots and a decrease in Boxster sales - one of the marque’s largest sellers. Strictly judging by our First Drive of the 2009 Porsche Boxster, we’d expect things to improve by the end of July. Hit the jump for Porsche’s press release.
Gallery: 2009 Porsche Carrera 911 PDK
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Porsche admits it’s not invincible, posts 14% sales decline originally appeared on Autoblog on Fri, 30 Jan 2009 13:31:00 EST. Please see our terms for use of feeds.
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