July 2009 Sales
Rennlist Member
Joined: Mar 2003
Posts: 3,570
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From: Philly
The good news is that despite Porsches lousey numbers our dealership is only 4 cars behind last years pace and we just aquired another store! We're selling a lot of cars and are now 9th in the country, without the new store.
Rennlist Member
Joined: Oct 2007
Posts: 79
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From: WA
I think the Boxter/Cayman numbers may reflect the particular economic squeeze being felt by the Aspirational buyer -- rather than lack of interest in the design. Buyers that couldn't afford a 911 would opt for the lower priced Boxter/Cayman -- probably stretching mightily to do so on incomes that were highly dependent on a good economy and easy credit. I would guess that 911 buyers most likely have deeper pockets and are more likely to be cash buyers. These numbers do bring into question the near term success of the Panamera to be launched this Fall.
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Joined: May 2001
Posts: 2,347
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From: Los Angeles
The assumption underlying most of these analyses is that the previous boom sales figures were sustainable and representative of a financially secure customer base. The current slump is closer to a market correction given that the number of potential customers for expensive luxury goods like sports cars, boats, and waterfront property was not unlimited, yet these goods were grossly overproduced (Porsches included) and supported by consumption financed by credit w/o sufficient capital to back it up. Liquidity evaporated w/ the credit crunch, which then led to insolvency for many. People still don't seem to have internalized the message that the previous prosperity was based largely on hubris and bad business practices. Porsche sales figures suggest that the Boxster/Cayman may have run its course as these figures have been trending down for some time. The 911 is actually doing rather well given that affluent Americans expect to see their disposable income redirected toward the promotion of fairness.
Terrific analysis of what's really going on here. Thanks.
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Joined: May 2004
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From: Oregon
Instructor
Joined: May 2004
Posts: 202
Likes: 29
From: Oregon