Porsche has become the latest victim of the global credit crunch/world recession and has reacted to falling demand for new motors by cutting back on worker hours. Recent results showed that in the last six months, sales had slumped by 14% – a trend common across the motor industry as buyers are tightening purse strings – not to mention being refused credit by banks.
Overall, the company is expected to reduce production by about 19 days between now and April, so it’s a significant (if not huge) amount of working time that will go. Interestingly, Porsche chief Wendelin Wiedeking stated that Porsche “always produced one car less than the market needs” – so make of that what you will.
This continues to be a difficult and troubled time for global manufacturing markets and we can only hope that it doesn’t stop innovation in the long run. We need to see money still being invested in that way so that car companies (whatever the manufacturer) are in a strong position to have good offerings when the markets are more active once again.
This is really bad looks like everyone is suffering from this crisis situation.