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Old 11-25-2008, 08:35 AM   #1
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Porsche cuts production

Porsche Curbs Production As Sales Dip
11/25/08 - 12:11 PM EST

, The Associated Press

STUTTGART, Germany -- Sportscar maker Porsche SE said Tuesday it would curb production as a result of weaker sales amid the global economic crisis.
Porsche to stop assembly lines for one day last Friday at its Zuffenhausen plant, the company said.

Stuttgart-based Porsche said it would have seven more work stoppage days before the end of January 2009 to adapt to the weaker demand.

The maker of the 911 and the Cayenne also said it did not expect to reach last fiscal year's sales level of 98,652 cars.

The company will report earnings on Wednesday.

Shares of Porsche Automobil Holding were trading down 2.2% at 54.78 ($70) late Tuesday.

Rich Belloff

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