Porsche has been hit hard by declining sales, particularly in the United States. The company just released its U.S. sales figures for November: 1378 units, down 48 percent compared to the same month last year. The previous months were no better: minus 50 percent in October, minus 45 percent in September, and minus 45 percent in August.
At minus 74 percent last month, the Boxster and Cayman models were the worst performers, although that’s largely due to an imminent model changeover. Face-lifted models were unveiled at the L.A. auto show and will hit the market next March. The Cayenne was down 43 percent and even 911 sales took a 38-percent dive despite a complete overhaul with new engines and transmissions this summer. "Sales jumped briefly after the launch, but at the moment, even the 911 is hit by receding sales," said a company spokesman.
Porsche will halt its 911 production lines in Stuttgart for eight days, and there will be an additional three holidays for employees next year. As a result, production will be curtailed by nearly 1800 units. Porsche's Leipzig plant continues as usual, though, as it is ramping up for production of the Panamera four-door, which will be built beginning next spring. Porsche wouldn't confirm that its target of 20,000 units annually still stands. "We will react flexibly," Porsche CEO Wendelin Wiedeking said last month.
Finnish manufacturer Valmet may suffer, too. Porsche contracts with it for assembly of the Boxster and Cayman, and the company will profit from the imminent launch. But if 911 sales don't jump, we expect Porsche's main plant in Stuttgart to take back a sizable portion of Boxster production. Because of tooling, the Cayman is the only model that cannot be moved from Valmet. Porsche will pull the plug on Valmet by 2012 altogether, as the next-generation Boxster and Cayman will be built at a Magna Steyr plant in Austria.
While VW and Audi have been able to weather the crisis far better than other carmakers in Europe, they too are expected to reduce production in 2009. VW already has dismissed a number of temporary workers.
LETS hope they saved those 28grand per vehicle markup to good use.