Porsche CEO sees little growth ahead of Panamera launch
(autoinsidernews) - Porsche expects its rapid sales growth to stagnate for the next two years as the company develops 2009 Panamera four-door coupe, and as demand for its Cayenne continue to slow. However, Porsche is expecting a thrust of expansion to start in 2009, when its Panamera goes on sale, reports Trend.
It will not be possible to keep the company's profits at this high level, said Porsche CEO, Wendelin Wiedeking. In all likelihood, we will show the same operative result as in the previous year. But a quantum leap of the kind we saw last year will not repeat itself.
Porsche's net income nearly doubled for the fiscal year ending in July, to a record 1.39 billion euros, helped by the new Cayman and additional 911 models, including the 911 Turbo. However, North American sales dropped 18, in the four months ended Nov. 30, mainly on plummeting demand for the Cayenne.