AM Online

Porsche can’t escape global recession

Porsche has not been able to escape the global downturn with revenues down by 14.3% to €3 billion between August 2008 and January 2009.

Porsche is also expecting sales in the first half of the business year to have decreased by 27.3% to approximately 34,000 units.

The German manufacturer won’t publish full six-month earnings until March as it needs to incorporate fourth-quarter data from Volkswagen, which it has a controlling stake in.

The carmaker will suspend manufacturing for 19 days between now and August. Porsche already halted assembly lines at its main plant in Zuffenhausen, Germany, for eight days this month and extended employees’ Christmas break by three days.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.