$US hits Porsche
NZPA-Reuter Frankfurt Luxury car maker Porsche’s sales in the United States have been hit by currency fluctuations and profits for the year to end July will be about 10 per cent down, according to management' board chairman, Mr Peter Schutz. Porsche, which exports 60 per cent of its cars to the United saw total sales, fall in the year ended July to
about 3000 cars from 4000 in the previous year, he said. Mr Schutz said in an interview that the weak dollar presented a real problem for Porsche’s cheaper cars, but business in more up-market models had been stable. Porsche reported net earnings of 75.3 million Deutsche marks (5NZ67.2 million) on sales of 3.57 billion marks (SNZ3.2O billion) in 1985-86.
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Press, 16 September 1987, Page 35
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124$US hits Porsche Press, 16 September 1987, Page 35
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