Porsche sales fall as crisis crimps demand

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Luxury sports car maker Porsche SE said Thursday that sales in the first four months of its fiscal year slid nearly 10 percent as the global economic downturn pinched demand.

The Stuttgart-based maker of the 911 sports car and the Cayenne sport utility vehicle said in a statement sales declined 9.7 percent to euro2.2 billion ($3.1 billion) from euro2.4 billion a year ago.

The company, whose fiscal year starts Aug. 1, did not release net profit figures.

Porsche said it sold 25,000 vehicles in the August-November period, a nearly 19 percent drop from the 31,000 it sold in the year-ago period.

Demand was down globally, with sales dropping 18.6 percent in its home market, Germany, and by 18.2 percent in North America. Elsewhere, sales dropped 19.1 percent.

Porsche said the operating profit target for the period could still be met — especially because of option positions it has on Wolfsburg-based Volkswagen AG, Europe's largest carmaker. Porsche is VW's largest shareholder.

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