Porsche sales down 15% as crisis hits cars

Font Size

Print

Feedback

Email

Discuss

Related Articles

Nissan returns to profit in latest quarterGM sees October sales bounce, Chrysler plunges

Frankfurt: Sales at the German luxury sports-car maker Porsche have crashed in another sign of problems for high-end auto manufacturers, company data showed.

Sales fell by 15 percent in the first nine months of Porsche's fiscal year to USD 5.98 billion.

The result, which covered the period from August 1 to April 30, did not include sales at Volkswagen, the biggest European auto manufacturer, in which Porsche holds a stake of 51 percent.

Porsche said its operating profit was also less than in the same period a year earlier, but did not provide figures.

"A look at global unit sales makes clear that no region is being spared the sharp decline in automobile markets," a statement said.

Deliveries fell by 27.6 percent to 53,635 vehicles on a 12-month basis, as luxury cars in particular paid a price for weaker consumer sentiment.

Small car sales have resisted the slump in Germany and elsewhere better, owing in large part to car scrapping premiums offered by many governments.