Porsche on Tuesday said it believed the worst of the credit crunch slump was now over.
CEO Michael Macht told a Frankfurt show press conference unit sales in the latest business year to 31 July fell 24% to 75,200 units though revenues were down only 12% to an estimated EUR6.6bn.
“Although the next few months will remain difficult, we are moderately optimistic for calendar 2010”, he said.
In fiscal 2008/2009, sales of the mainstay 911 line dropped 14% to 27,100 units. Cayenne SUV sales fell 25% to 34,300 units and Boxster sales totalled 13,100 units, off 40%, which Porsche attributed to a model change last February.
Germany sales fell 9% to about 12,300 units but North America sales dived 30% to approximately 22,700 units.
“Porsche was hit harder in that market by the effects of the dramatic economic crisis,” the automaker said.
Sales outside the two main markets fell 23% to to 40,300 units.
Production was down 27% to 76,700 units.
Nonetheless, Porsche boosted its payroll by 450 jobs to 12,652.