911 sales down 45% last year!

Porsche says 6-month profit down 83 per cent on costs of VW merger A new Porsche 918 Boxter Spyder is shown during the press day at the 80th Geneva International Motor Show, Tuesday, March 2, 2010. (THE ASSOCIATED PRESS/Keystone/Sandro Campardo) BERLIN - A dip in sales and costs from its failed attempt to take over Volkswagen pushed sports car maker Porsche's six-month net profit down by 83 per cent. The maker of the 911, Cayenne and Panamera, said Wednesday that it earned euro957 million (US$1.3 billion) in the first six months of its fiscal year ending Jan. 31. That's well below the euro5.5 billion it reported the same time a year earlier. Investors were not impressed, sending Porsche shares down nearly 1.3 per cent to euro43.21 in Frankfurt trading as the wider DAX gained nearly half a per cent. Porsche had launched an ambitious takeover of Volkswagen last year only to see it fail as Volkswagen, Europe's biggest auto maker by sales, mounted its own acquisition of Porsche. The subsequent failure by Porsche caused it to post its first loss since 1994 after it was forced to write down options on VW shares it held. Likewise, Porsche said it expects the fallout from the deal to cause a second annual loss, noting in its report that "forecasts are for an overall negative result of a low single-digit billion-euro figure" to be incurred. Sales of its cars were down 1.7 per cent in the half-year, with 33,670 cars delivered. The automaker's Cayenne, an SUV-inspired model, was its best-selling model, with 13,454 cars sold though that was a decline of 19.8 per cent from a year earlier. Declines were reported in all of its key markets, including North America and Europe. The sporty and expensive 911 saw its sales drop nearly 45 per cent with 7,493 of the cars sold. Its two-seat Boxster model gained 11.3 per cent with nearly 4,400 of them sold in the six-month period. Looking ahead, Porsche Automobil Holding SE, based in Stuttgart, expects sales "to pick up" as it makes more of its four-seat Panamera models available, with an eye to stabilizing and "rise slightly

what are you...... Mr Sunshine? Profits were down, but I for one can tell you my middle finger was up - WAY UP !!

If all the Porsche owners would polish their cars more then drive around stocks for sure would climb in price. Makes more sense than a female dogs talking in the news about a company making prices lower.

Hey Pac, must kinda suck being the last one to the party, and the last one up - if I come to Hawaii, I will buy you lunch while everyone else is asleep for the night!

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I was just thinking the same thing. BUT I just started the movie 2012 so I'll act like it's real. Living at 700 ft I guess I'd go too but you know hawaii. I figure it would be lots of first time surfers shooting the curl around the world. So if Porsche does a trick of new car purchasers get a deal on shares do you think the stocks would rise I think all p-car owners should get stocks in some sort of balance towards a new car when using their old prosche as a turn in. Wooo hoooo what a bum!!! Uh oh president just announced it the end of the world as we know it. Agh!!!!!! Shows over and they trashed a Cayman and a GT in the show. No wonder the price of stocks are down Sure was nice seeing Diamondhead erupting. As far as the stocks and ownership of companies try the big pictures. VW and Porsche are German/Deutch companies. No mention of who owns the major portions of stocks through the years from what I've seen. In a brotherhood of rich guys the main goal is shifting for the times be it growth or profits.

hey, keep taking your medication though.... alright.....

1.3 B... I dont think thats really that shabby for their size and market share, is it? Anyone....... Anyone..... Unless they are really over paying people.... Or doing stuuuupid stuff like trying to do corp takeovers and not having a clue of how to go about it.

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Yah I just took my pill and believe that anybody dealing with company stocks doesn't do shady things or misrepresents what is going on that others would consider as illegal These pills sure make the news look like the old show Rawhide. "head 'em up, roll 'em out raw hide!"

Not surprised that luxury sports car sales are still down in this economy

They wrecked a GT??? For a dumb MOVIE????

Ah it was a movie set and like usual the plane crash scene was special effects. Had to be fake since everybody piled into a Bently to drive out the tail of the aircraft before the crash landing. I'd of hopped into the GT. Wild computer generated special effects. Way past the old days for quality. As far as the stocks and such it's the company that determines the pay out dividends to stock holders if any. So the price is just a floating game for issued stocks. More stocks can always be issued later for raising money which is after prices going up probably. I'm sure some simple facts of the stock splitting prior to drop could explain things since it would help reduce excuses needed when dividends are lower.

phew, for a minute I thought the world had gone crazy.

This is old news. Who here was actually surprised that Porsches total sales and thus profits were down in 2009? Duh! Oh, and it was PROFIT that was down. They didn't post a LOSS like almost every other car manufacturer on this planet.

pszikla if you would like to read another story on the VW affair there is on on the current release of an online magazine you could read. There are other good stories in the pdf's. http://www.autobahnambitionmag.com/index.html

thanks Pac!

stock brokers suck and so do banks.

im a moron too.

and im thinking about running for office.

serves them right for crapping on the secondary market.