“There will be no factory Porsche racecars in the near future,” thats what the company's CEO Wendelin Wiedeking said in an interview in the German edition of the Financial Times. Mr. Wiedeking stated that Porsche had been looking at building and campaigning "a sports prototype": all such plans have now been postponed for monetary reasons.
With the number of years they have been going, the number of high dollar cars they turn out per year - if that company cannot turn a profit - someone needs their balls in a vice.
Porsche should be very financially secure - not only do they make more supercars than probably everyone else put together - they develop things for other car manufacturers in secret - then the other car makers claim it as their own.... Porsche get paid very well to not get the credit.
It may be they spent so much developing their new SUV line that they wish to consolidate things until they've repaid their investment. If Porsche get into serious financial trouble it is 100% certain it is either very bad management or a huge amount of corporate rape. If any car maker on this earth should turn a profit - it is Porsche. They combine high dollar cars with high production numbers - a combination other car makers would die for.
They've never been very profitable. I think you overestimate how easy it is to make money manufacturing sports cars.
In a single year, the most number of cars they've EVER built was about 55,000. That number declines steadily (and quickly) the farther back you go -- in the early 90's production was around only 20,000. For the past few years, they've only held on to about 80 million in profits on around 4 billion in sales -- and their profitability has actually been on the rise.
Porsche is a VERY small company, as car companies go. In fact, back in the 80's they came very close to going out of business.
$80MM on $4MMM in sales is the most abysmal profit margin I have ever seen! They need to seriously do something about that - like yesterday.
They should be able to run at more like 10% net profit, not 2%. If they could do that, they could be raking $400MM a year into their veinershnitzel bags instead of only $80MM samoleans.
$80MM on $4MMM in sales is the most abysmal profit margin I have ever seen! They need to seriously do something about that - like yesterday.
They should be able to run at more like 10% net profit, not 2%. If they could do that, they could be raking $400MM a year into their veinershnitzel bags instead of only $80MM samoleans.
I gather a lot of that loss is due to Der German Taxen Raten and the fact that it's rather expensive to employ people in Germany (which does not mean they're well-paid).
$80MM on $4MMM in sales is the most abysmal profit margin I have ever seen! They need to seriously do something about that - like yesterday.
They should be able to run at more like 10% net profit, not 2%. If they could do that, they could be raking $400MM a year into their veinershnitzel bags instead of only $80MM samoleans.
I gather a lot of that loss is due to Der German Taxen Raten and the fact that it's rather expensive to employ people in Germany (which does not mean they're well-paid).
Time to move to China and get the 8-year olds on the production line!
i rolled up on cayanne turbo on i75 the other day leaving vipermeds shop, i thought it was a hyundai santa fe at first, i tried to race him but he wanted none
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