Home Page About Us Contribute

Escort, Inc.

Tweets by @CrittendenAuto

By accessing/using The Crittenden Automotive Library/CarsAndRacingStuff.com, you signify your agreement with the Terms of Use on our Legal Information page. Our Privacy Policy is also available there.

Porsche automaker's global sales drop 28%

American Government Special Collections Reference Desk

Topics:  Porsche

Porsche automaker's global sales drop 28%

June 19, 2009

Audio Version  1,735KB  Ogg Vorbis
This audio file was created from the text revision dated 2009-06-19 and may not reflect subsequent text edits to this report.

On Friday, German automobile manufacturer Porsche reported that its August-April sales saw a drop of 28%, to 53,635 vehicles, after demand for luxury vehicles plunged as a result of the ongoing global financial crisis.

The firm also reported the revenue in the first three quarters of its fiscal year, which was at 4.64 billion euros after having fallen 15%. The overall decrease in revenues was due, in large part, to the decrease in sales of the company's 911 model, which accounts for a significant portion of sales. The 911 unit sales were lower by 18% for the year.

"In the first nine months of the ongoing fiscal year, the Porsche subgroup could not avoid the downward trend that has overtaken the worldwide automobile industry," the automaker said.

"This is certainly no surprise, but the fact that there is no reference to earnings any more in the outlook could be seen as a negative sign," said an analyst for Sal. Oppenheim, Christian Breitsprecher, noting that the forecast "remains very unspecific".

This article is licensed under the Creative Commons Attribution 2.5 License.

Connect with The Crittenden Automotive Library

The Crittenden Automotive Library on Facebook The Crittenden Automotive Library on Instagram The Crittenden Automotive Library at The Internet Archive The Crittenden Automotive Library on Pinterest The Crittenden Automotive Library on Twitter The Crittenden Automotive Library on Tumblr

The Crittenden Automotive Library

Home Page    About Us    Contribute