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Porsche sales for the 9 month period August 2008 to April 2009, fell by 28%, to 53,635 vehicles, with revenue down 15% to 4.64 billion euros. The better revenue numbers are due to a larger sales proportion of the higher margin 911 model. Sales were down in all regions of the world. Porsche's net debt has tripled to 9 billion euros after an attempt to take over full control of VW. It owns 51% of VW shares. Porsche is looking for Quatar investment funds, and is trying to get a 1.75 billion euro loan from state controlled bank KfW to reduce its debt load.
Porsche sales for the 9 month period August 2008 to April 2009, fell by 28%, to 53,635 vehicles, with revenue down 15% to 4.64 billion euros. The better revenue numbers are due to a larger sales proportion of the higher margin 911 model. Sales were down in all regions of the world. Porsche's net debt has tripled to 9 billion euros after an attempt to take over full control of VW. It owns 51% of VW shares. Porsche is looking for Quatar investment funds, and is trying to get a 1.75 billion euro loan from state controlled bank KfW to reduce its debt load.
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Chrysler's plans to quickly build a presence in the Chinese market. It will have 116 Chrysler-jeep dealerships by yaearend from the current 81, and have 81 Dodge dealerships compared to zero today.
Chrysler's plans to quickly build a presence in the Chinese market. It will have 116 Chrysler-jeep dealerships by yaearend from the current 81, and have 81 Dodge dealerships compared to zero today.
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Gettelfinger discloses that he is discussing more possible cuts at Chrysler as Chrysler faces a big restructuring. This will be the most difficult of the Big Three because Chrysler faces a financial crunch. Chrysler did not anticipate the new fuel economy standards mandated by Congress and will fall behind if it does not take action in this area. It lacks the resources to develop these new technologies.
Gettelfinger discloses that he is discussing more possible cuts at Chrysler as Chrysler faces a big restructuring. This will be the most difficult of the Big Three because Chrysler faces a financial crunch. Chrysler did not anticipate the new fuel economy standards mandated by Congress and will fall behind if it does not take action in this area. It lacks the resources to develop these new technologies.
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Deals like 0% financing on Toyota Highlander and Toyota Camry are ways even the Japanese carmakers are looking to prop up sales in a declining market. This could last a long time into 2009.
Deals like 0% financing on Toyota Highlander and Toyota Camry are ways even the Japanese carmakers are looking to prop up sales in a declining market. This could last a long time into 2009.
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