Unfortunately for some of us, Porsche has just announced that the launch of its new four-door sports coupe the Panamera will be delayed until the Shanghai Auto Show next April. The model should have be unviled at the Geneva Motor Show in March.
The luxury sports car maker declared that the delay is a reflection of the growing importance of China and other Asian market for its future sales. Hmm, really ? The real reason for this decision might be that the European and US car sales ar tumbling fast, which made them look for a market to help maintain some stability in your global sales and a continuously growing economy like China’s is just that.
Porsche sales in China doubled for fiscal year 2007-2008 compared to the previous year to 8,190 units. In the same period, North American and European sales were down sharply and fell 5.4 percent in Germany, Porsche’s domestic market. Porsche is in incredibly good shape financially. For the fiscal year that ended September 30th, Porsche made a profit of 8.6 billion euros on revenues of 7.5 billion.
Wait…that doesn’t make sense. How can you make more money in profits than you take in in revenue from car sales?
Interesting, a small company that can make a profit on small cars and trucks!