Porsches first-half revenue down 3.3 percent to 2.9 billion euros

Article by Christian A., on August 29, 2010

Deliveries of Porsche AG's new coupe-styled four-door Panamera failed to offset the waning demand for the Cayenne and 911 models, possibly resulting to the quick decline of its first-half revenue.

However, volume drops of 40% in the fiscal first quarter that ended October 31 were cut to only 3% by the end of the first six months. In remarks prepared for delivery to shareholders on Friday, Porsche Automobil Holding SE CEO Martin Winterkorn pointed out an upwards trend.

And for this reason, Porsche is forecasting its unit sales for the fiscal year 2009/10 to be slightly higher than those for the prior year.

For the 2008-2009 fiscal year, Porsche sold 75,238 vehicles worldwide. Sales of the high-margin 911 sports car fell 45% to 7,400 units, leading to the brand's revenue and leading overall retail sales to plunge 3.1%.

Even as the new Panamera resulted to Porsche gaining about 8,200 units in volume, revenues still dropped by 3.3% to 2.9 billion euros ($4.07 billion).

Having a 3.6 billion euro after-tax loss in its last fiscal year, Porsche SE used up its retained earnings so it could post a minimal profit based on German accounting standards.

If you liked the article, share on:

Topics: porsche, profit

Comments

Recommended

November 17 is considered a very special day for Tesla, as this is the day that they revealed the highly anticipated Tesla Semi. But Elon Musk did not think the...
by - November 17, 2017
More details have emerged about the new sixth generation of the BMW M3 just as the German premium practically announced the end of the current-gen 3 Series with the unveiling...
by - November 17, 2017
All is set for Volkswagen’s plans to enter the electric vehicle game, as prompted by the so-called Dieselgate scandal. In fact, the German carmaker has already made a commitment to...
by - November 17, 2017
As BMW has already revealed, the next generation of the BMW M5 (F90) is a four-wheel drive high-performance sedan with overwhelming power output and torque at its disposal. However, it...
by - November 17, 2017
McLaren unveiled a one-off Gold - on - Black 720S at the 2017 Dubai Motor Show which will be on display throughout the entire stretch of this week’s event. The...
by - November 16, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries