Porsche loses $6.5 Bbbbbillion

Often I’m harsh on the American automakers, sometimes unfairly so. To make up for it, I’m (happy?) to announce that Porsche just posted a loss of $6.5 Billion ( that’s Billion ) for fiscal 2008-2009. That’s quite the swing from the prior years’s $12.8 billion profit.

Surely most of that loss is due to the Volkswagen debacle. Porsche executives maintain that their operating margin was still in the double digit range. Since they haven’t released an official financial statement, that can’t yet be verified. In any case, an $18 billion swing in a single year is ugly, even in these times.

Published on November 16, 2009 in Porsche

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