Business picks up for Porsche
Press release just in from Porsche suggests light at the end of the tunnel:
Porsche Automobil Holding SE, Stuttgart, has not gone unscathed by the severe slump of the economy in the world market in the year of business 2008/2009 (to July 31). As the company announced on Tuesday at the Frankfurt Motor Show IAA in providing an initial overview of the business year that has just ended, the expected car sales by its subsidiary Dr. Ing. h.c. F. Porsche AG, dropped 24 per cent to approximately 75.200 units. In comparison, revenues were down by only 12 per cent to an estimated amount of Euro 6.6 billion. In the words of Michael Macht, Executive Board Member of Porsche SE and Chief Executive Officer of Porsche AG, this should mark the lowest point in the slump: “Although the next few months will remain difficult, we are moderately optimistic for calendar 2010”, he stated in Frankfurt.
In providing such a confident outlook, Macht can count on the most attractive model range Porsche has ever offered. In Frankfurt the Stuttgart-based car manufacturer is not only presenting its new fourth model series, the Panamera Gran Turismo, but is also highlighting three further models destined to make the hearts of car enthusiasts everywhere skip a beat: The latest version of the 911 Turbo, a genuine icon in the world of sports cars, and the 911 GT3 RS, a truly fascinating top-end performer offering supreme driving dynamics on both the race track and public roads. A particular highlight is the 911 Sport Classic, a special model based on the Carrera S reminiscent through its rear spoiler fitted in position of the legendary “ducktail” Carrera 2.7 RS in 1973.
In the business year 2008/2009, the 911 held up successfully within the model range showing a decrease in sales of 14 per cent to a provisional figure of approximately 27.100 units. The Cayenne reached an estimated sales volume of 34.300 (minus 25 per cent), the Boxster series totalled 13.100 unit sales. This decrease in sales of the Porsche’s mid-engined sports cars by 40 per cent, higher as the other model series, was attributable above all to the generation change in this segment in February 2009.
A look at the various regions shows that Porsche achieved above-average success in Germany, sales in the domestic market dropped by only 9 per cent to presumably about 12.300 units. Showing a decline in sales of 30 per cent to around 22.700 units in North America, on the other hand, Porsche was hit harder in that market by the effects of the dramatic economic crisis. Preliminary figures show that Porsche sales outside of the traditional markets Germany and North America amounted to 40.300 units, a decrease by 23 per cent.
Production totalled an estimated 76.700 units – 27 per cent less than in the previous fiscal year. In Leipzig roughly 32.600 units of the Cayenne and some 1.900 units of the new Panamera came off the production line, with production of the 911 amounting to approximately 27.800 units. The Boxster model series, finally, accounted for 14.400 units built.
Despite the recession in the car business, Porsche was able to create additional jobs in the business year 2008/2009, showing an increase by 450 to 12.652. New jobs were created both in Leipzig and Porsche subsidiaries.