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Issue Six
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Issue Six
March 22, 2003
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Porsche Cutting Back Production.
By Steve Litscher

(Friday, March 21, 2003 11:45 PM EST)
VIENNA, VA - Earlier this month, Porsche AG announced it would be cutting back production of both the 911 and Boxster. Porsche indicates that the cutbacks are a result of lower than expected sales projections for 2003.

Porsche spokesman Manfred Ayasse said, "We've said that sports car unit sales will not reach the level of the previous year, and this means logically that we have to run down production since we don't manufacture cars for inventory."

North American Porsche saw a sharp decline of vehicle sales for February 2003, with only 1,186 total units sold - a stinging 37% decrease from a year ago. The 911, Porsche's most profitable vehicle (to date, not including the Cayenne) saw its sales drop 39%, while the Boxster saw its total numbers slim-up by 35%.

All of this is rather surprising, especially for a company that is preparing to release a brand new vehicle. The Cayenne has been advertised to death, hyped and promoted like nothing else, yet interest apparently remains stale. Porsche claims that orders exceed production capacity, however, most dealers are indicating that they have less than 40% of their allotments spoken for.

Further, a quick search on eBay indicates there's little interest in the Cayenne (so far). We counted only a handful of Cayennes on eBay - most had very little bidding and all were priced exactly at MSRP. While eBay isn't considered to be a great source of supply and demand models, it does give an idea of just how little interest there is in Porsche's Cayenne.

And while we hate to be conspiracy advocates, one has to wonder about the rather interesting departure of Porsche Cars North America CEO Fred Schwab - he retired earlier this year, just months before the Cayenne's scheduled release.

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