Porsche Posts 30.5 Percent Loss in Q1 2009-2010 Fiscal Year

German carmaker Porsche published today its interim report for the first three months of the 2009/10 fiscal year (1 August 2009 to 31 October 2009), a report which covers both Porsche and Volkswagen.

The numbers show a consolidated revenue of 26.8 billion euro, with 1.1 billion euro coming from Porsche. The figure represents a 30.5 percent fall in the revenue recorded in the same period last year.

Porsche sold 11,385 vehicles in the first three months of the 2009/10 fiscal year, representing a 39.6 percent drop compared with 2008. Out of the total number of units sold, a large portion, 2,973, were Panameras.

"Porsche AG expects unit sales to pick up over the year 2010. The Stuttgart-based automotive manufacturer is basing this forecast on its attractive product portfolio and on the Panamera in particular. According to assessments by Porsche, this fourth series will ensure that the sales figures of Porsche AG will not only stabilize but will overall rise slightly again in the 2009/10 fiscal year," the carmaker says in a release.

The Cayenne sold 4,095 vehicles, a drop of 57.4 percent, the Boxster 1,717 vehicles, a drop of 57.4 percent, while the 911 got the biggest blow, 64.2 percent drop to 2,600. Porsche blames most of the drops to the declining demand for sports cars in the United States.

The North American market recorded a 50.7 percent drop in Q3, to 3,995 vehicles. In Germany on the other hand, sales dropped by 33.7 percent to 1,544 vehicles.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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