View Full Version : Porsche sales in the US is down by 65%
Erik
July 2nd, 2009, 08:38
Wow, the sales for Porsche in the US is down by 65% from last year. That stop of cash flow has got to hurt with those big loans.
http://www.autoblog.com/2009/07/01/by-the-numbers-june-2009-bankruptcy-a-bad-idea-edition/
Benman
July 2nd, 2009, 20:42
:addict:It will get worse before getting better. ;)
Ben
JavierNuvolari
July 2nd, 2009, 21:38
Whoa...I would not like to be in the Financial Dept of that company at the moment... Correct me if I'm wrong but...big loan to pay for investment + cash flow reduced greatly means that if this situation is not improved in a short while they're gonna start eating their capital...if they have not started already.
Saludos.
artur777
July 2nd, 2009, 23:20
Disastrous news
Benman
July 2nd, 2009, 23:28
...means that if this situation is not improved in a short while they're gonna start eating their capital...if they have not started already.
Saludos.
Exactly. ;)
But unfortunately, it will get worse before getting better. Economics dictate that with the huge influx of artificial money around the world in the form of "stimulating" the economy (e.g Great Depression), we will see stories like this for years instead of months. Not good.
Ben:addict:
chewym
July 3rd, 2009, 08:15
I think June was actually the best sales month this year for the US car market as a whole, which makes the extreme dropoff of Porsche sales even more interesting.
Porsche started out the crusade to buy VW stock to protect them from a takeover and other BS. It looks like they will end up with a foreign country owning a portion of both. Worst possible outcome?
I think this shows how many people actually buy Porsches with their own money.
If Porsche get taken over, does that mean VW get taken over too.
Benman
July 3rd, 2009, 17:41
I think June was actually the best sales month this year for the US car market as a whole...
Key part of that phrase is "this year". That ain't saying much as this year has truely sucked for the US auto industry. Perhaps all those 0% APR for 72 months combined with huge cash back commercials are having a minor effect on people's wallets. But the prices US cars are being sold at are hardly making the manufactures much money... sad.
Ben:addict:
Klint
July 5th, 2009, 00:27
Doesn't surprise me one bit!