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Associated Press:

"BERLIN -- A dip in sales and costs from its failed attempt to take over Volkswagen pushed sports car maker Porsche's six-month net profit down by 83 percent.
The maker of the 911, Cayenne and Panamera, said Wednesday that it earned euro957 million ($1.3 billion) in the first six months of its fiscal year ending Jan. 31. That's well below the euro5.5 billion it reported the same time a year earlier.
Investors were not impressed, sending Porsche shares down 2 percent to euro42.89 in Frankfurt trading as the wider DAX gained nearly 1 percent.
Porsche had launched an ambitious takeover of Volkswagen last year only to see it fail as Volkswagen, Europe's biggest auto maker by sales, mounted its own acquisition of Porsche.
The subsequent failure by Porsche caused it to post its first loss since 1994 after it was forced to write down options on VW shares it held.
Likewise, Porsche said it expects the fallout from the deal to cause a second annual loss, noting in its report that "forecasts are for an overall negative result of a low single-digit billion-euro figure" to be incurred.
Sales of its cars were down 1.7 percent in the half-year, with 33,670 cars delivered.
The automaker's Cayenne, an SUV-inspired model, was its best-selling model, with 13,454 cars sold though that was a decline of 19.8 percent from a year earlier.
Declines were reported in all of its key markets, including North America and Europe.
The sporty and expensive 911 saw its sales drop nearly 45 percent with 7,493 of the cars sold. Its two-seat Boxster model gained 11.3 percent with nearly 4,400 of them sold in the six-month period.
Looking ahead, Porsche Automobil Holding SE, based in Stuttgart, expects sales "to pick up" as it makes more of its four-seat Panamera models available, with an eye to stabilizing and "rise slightly."
 

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Seems to mirror what we said in our report on February sales. I was talking to someone yesterday who was getting rid of their 997 because they felt it was too dated and stale, that the 911 hadn't changed "enough" to make it attractive in the current market. I thought that was an interesting comment.
 

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I was parked next to a convertable 997.2S and a passer-by stopped in his tracks at the sight of my car. He asked what a car like mine runs and I told him they start around 60K. He was shocked and said he would have guessed 100K by the looks of it. My friend with the 997S cabriolet said his was 120K and the guy took a look at it and walked away without a word and I know my friend was miffed. The guy even turned around again to get another look at my car. I was really shocked but somehow the lower 911s have really become ho-hum... I think Porsche is so stuck on driving people up the model range into higher priced varients that they seem to offer very little in terms of styling to the lower 911s. Performace wise they are fantastic but really in terms of body style they are very conservative and actually looking quite dated, IMHO. You have to get into turbo or GT3 money before the front end looks somewhat sporty and attractive.
 

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Associated Press:
Looking ahead, Porsche Automobil Holding SE, based in Stuttgart, expects sales "to pick up" as it makes more of its four-seat Panamera models available."
Whomever at Porsche actually believes that about the Panamera should be fired real quick. No wonder the company embarassed themselves financially in the face of VW.

The 21st century has forced a change in consumers. No one one wants a whale of a guzzler. Sure the SUV sales top all models, but they are still shrinking into obscurity. It's like being on the top deck of a sinking ship.

Successful cars on today's and tomorrow's market must be compact, agile, and efficient.
 

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Whomever at Porsche actually believes that about the Panamera should be fired real quick. No wonder the company embarassed themselves financially in the face of VW.

The 21st century has forced a change in consumers. No one one wants a whale of a guzzler. Sure the SUV sales top all models, but they are still shrinking into obscurity. It's like being on the top deck of a sinking ship.

Successful cars on today's and tomorrow's market must be compact, agile, and efficient.

There was an article on Porsche's website that stated they had shipped the 10,000th Panamera only three months after its debut. My guess is, that's the sound of success to a company that is selling in niche markets globally. We'll see.
 

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Yes, the 997.2 is a little plain (not ugly) I think the best Porsche nose ATM are the Gen II Cayman's. Anyway 911 sales depend on the US, because the rest of the world they are just too expensive to consider compared to the 987 range.
 

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This is all about Wiedeking.

He helped them make great profits but also did some things that they are now regretting doing. He pushed Porsche to profit by cost cutting and financial manipulation. At one point they said Porsche had become a hedge fund with a car company attached to it ;) .

IMO the 911 has just become way too expensive. Especially considering it shares huge numbers of parts with the Boxster and Cayman. There is nothing wrong with sharing parts but there is a huge gap in price between the cars.

Than on top of this there is the huge depreciation on these cars. Buy a 911 for 120K and in 3 years you can buy it for 60-70K. Thats a nice chunk of change to lose.
 

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Well, by no means is the 911 dead, but maybe a little of the sales bump in the 987 models have more to do with performance than styling. The mid-engined platform is simply more fun to drive than the standard 911 models.
 

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I think the Boxster and Cayman have a magnetic appeal to people who know nothing about Porsches... they are both stunningly beautiful cars that stop people in their tracks.

The 911 has evolved from the iconic shape to the smoother, rounder, larger Carerra's of today. These new cars hold some mystique to the Porsche faithful but to the average passerby the newest Carrera simply doesn't captivate the way the Boxster and Cayman does.
 

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IMO the 911 has just become way too expensive. Especially considering it shares huge numbers of parts with the Boxster and Cayman.
You have a point. I remember when the magazines always compared the 911 and Corvette (and they still do) but these two cars are no longer in the same general price range (I know there is some overlap of models). GM is actively campaigning the Corvette vs. the Cayman S as a features/performance/value consideration. GM seems to realize the Cayman S is the Porsche most would be Corvette owners are contemplating these days, not the 911 which now resides in a different price bracket.

I can't help but worry VW will push Porsche prices even higher to create a cushion between Audi and Porsche and fill the gap between Audi and Bentley/Lambo.

Reminds me of when Ford bought Land Rover... at the time the Discovery was competitive on price with the Explorer when similarly spec'd. In short order the work-a-day Discovery morphed into a "luxury" SUV and the sticker price rose by $20k.
 

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Well, by no means is the 911 dead, but maybe a little of the sales bump in the 987 models have more to do with performance than styling. The mid-engined platform is simply more fun to drive than the standard 911 models.
I think this is spot on. I used to work for a guy that has a 911 and I'd get to drive it all the time (running in college, so was getting it washed, gassed, etc.). My Boxster is so much more fun to drive that what it was. The Boxster feels like an extension of myself. What I think, it does almost instantly and effortlessly. And doesn't try to do more. The 911 on the other hand felt like I was fighting it half the time. It always wanted more than what I was giving it and it felt like it was always trying to push me into higher performance ranges.

Before I bought the Boxster, having not driven one extensively, my thinking was to start off with it since and eventually move into a 911 when I could afford it. Now there's no way I'm even considering that. My next car will most likely be another Boxster. Unless the 918 ends up being affordable for mortals and is really as sick as it appears to be. :)
 

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Unfortunately the fact remains that the 911 is an aspirational vehicle; the Boxster/Cayman is not.

Generally people who are sports car fans and those who actually want to drive the car tend to lean towards the mid-engine magic the Boxster/Cayman provide.

Dentists, Doctors, Lawyers and others who want to show they've "made it" go straight for the 911.

See the film In Good Company for an example. ;)
 
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