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News of  February 06, 2002

GT2, Carrera 4S and Targa now on the starting line

Porsche GT2

Photo: Porsche

Basis effect depresses Porsche's January sales figures in North America

Stuttgart - Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, delivered 1,543 911 and Boxster cars in North America during January 2002. Compared with 2,122 units in the same month of the previous year, this was a drop of 27 percent. The total included 813 911 models (- 9.8 percent) and 730 Boxsters (- 40 percent).

As already announced by Porsche's President and Chief Executive Officer Dr. Wendelin Wiedeking at the shareholders' annual general meeting on January 18, the Stuttgart-based sports car manufacturer's deliveries in North America in the first six months of the company's current fiscal year were 9,670 units, nine percent below the similar period in the 2000/2001 fiscal year. This result was achieved despite the consequences of the terrorist attacks on September 11th and, in contrast to the action taken by other automobile manufacturers, without introducing any specific sales promotional measures such as zero-interest credit terms. These, according to Dr. Wiedeking, would only involve the company in unnecessary expense, annoy loyal customers who have bought Porsches for many years and adversely affect the cars' potential resale value.

In view of the outstanding reception given by the market to the new 911 Coupe and Convertible, and the fact that the GT2, Carrera 4S and Targa are to be launched in the USA and Canada on February 8, Porsche is confident that the trend on its most important sales market will continue to be satisfactory.

In January, the volume of orders received for the new versions of the 911 was again higher than expected, which will lead to the model mix being further displaced towards cars of higher value. Porsche is therefore optimistic that even if the total sales volume at the end of the fiscal year should be lower, a satisfactory financial result will nevertheless be achieved on the North American market.

The unusually severe drop in sales this January is largely explained by the arrival of delayed vehicles in the same month of the previous year. In December 2000, a shipment of cars failed to arrive punctually in the USA, so that many deliveries to customers in the USA and Canada had to be postponed until January and February 2001. This resulted in an increased sales volume in January 2001 and therefore increased the percentage shortfall in January this year.

(February 01, 2002)

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