Porsche sales fall 9.7% as crisis crimps demand

[Amerigo Vespucci]

Dec 18th, 2008 | FRANKFURT, Germany -- Luxury sports car maker Porsche SE said Thursday that sales in the first four months of its fiscal year slid nearly 10 percent as the global economic downturn pinched demand.

The Stuttgart-based maker of the 911 sports car and the Cayenne sport utility vehicle said sales declined 9.7 percent to euro2.2 billion ($3.1 billion) from euro2.4 billion a year ago.

The company did not release net profit figures. Its fiscal year starts Aug. 1.

Porsche said it sold 25,000 vehicles in the August-November period, a nearly 19 percent drop from the 31,000 it sold in the year-ago period.

http://www.salon.com/wires/ap/business/2008/12/18/D9556F800_eu_germany_earns_porsche/index.html

[Renew Deal]

1. Only 9.7%?

While Honda, Toyota and others fall between 30% and 80%. Just shows you that the obnoxiously wealthy are going to stay that way.

[Amerigo Vespucci]

2. I posted a story on DU recently...

...it was about a multi-millionaire in New York who defaulted on a deposit he'd paid on a $10 million property. He decided to back out of the deal, just left his non-refundable deposit on the table and walked away.

He had a quote along the lines of "I could walk onto any Porsche lot right now and pay cash" but said he wouldn't do it because he didn't want to make his other wealthy friends who are currently having a tough time feel bad. It was one of those things you had to read several times through because the initial reaction was "WTF?"

[ThomWV]

4. True that, this only show that the 'stinking rich' have fallen by the wayside

While the higher echelons of wealth remain intact.

[Liberal_in_LA]

3. cue small violins

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