Porsche AG latest numbers

[z12358]

Latest financial report from Porsche AG:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFidxWPL7TGA

Sales figures:
"Worldwide sales of Porsche's cars and sport-utility vehicles in fiscal 2006 rose 9.5 percent to 96,794 units, the company said Sept. 27. Demand for 911-model sports cars rose 24 percent to 34,386 units. Deliveries of the Boxster, including the Cayman, rose 55 percent to 17,906 cars. Sales of the 4-year-old Cayenne fell 19 percent to 34,134 vehicles. "

Quote about profit margins:
"Porsche's net income as a proportion of sales is the highest in the industry at 19 percent. That compares with 7.5 percent at Toyota Motor Corp., the world's second-biggest carmaker, for the year ended March 31, according to data compiled by Bloomberg."

[MNBoxster]

Originally Posted by z12358

Latest financial report from Porsche AG:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFidxWPL7TGA

Sales figures:
"Worldwide sales of Porsche's cars and sport-utility vehicles in fiscal 2006 rose 9.5 percent to 96,794 units, the company said Sept. 27. Demand for 911-model sports cars rose 24 percent to 34,386 units. Deliveries of the Boxster, including the Cayman, rose 55 percent to 17,906 cars. Sales of the 4-year-old Cayenne fell 19 percent to 34,134 vehicles. "

Quote about profit margins:
"Porsche's net income as a proportion of sales is the highest in the industry at 19 percent. That compares with 7.5 percent at Toyota Motor Corp., the world's second-biggest carmaker, for the year ended March 31, according to data compiled by Bloomberg."

Hi,

Interesting, but perhaps somewhat deceiving. The current numbers beat the all-time high for the 911 -32,337 units ('01/'02). But falls well below the all-time high for the Boxster - 27,865 units ('00/'01), and these figures didn't include the Cayman. The Cayenne is really taking it on the chin as well from their all-time high of 39,913 ('03/'04)...

Happy Motoring!... Jim'99

[z12358]

Had no point to make, really. Just thought the article would be interesting to read as a whole.

Z.

[drburton]

Interesting information. Given the lower price point, I assumed the Boxster/Cayman's would outsell the 911. Didn't realize the 911 sales would be twice the Boxster.

Now I feel like my Box is more 'exclusive'

[MNBoxster]

Originally Posted by drburton

Interesting information. Given the lower price point, I assumed the Boxster/Cayman's would outsell the 911. Didn't realize the 911 sales would be twice the Boxster.

Now I feel like my Box is more 'exclusive'

Hi,

I think that relaxed leasing requirements, as well as the availability of 72-month and 96-month Financing have done quite a bit for 996/997 sales...

Happy Motoring!... Jim'99

[Perfectlap]

Not surprising.

Boxster and Cayman have become too expensive for the non-enthusiast.
Since I reckon most Pcar buyers aren't really sports car enthusiast (purely unscientific first hand experience) they start thinking along the lines of "why not just get the 911 if I'm going to be paying that much" I bet the average 997 buyer is a first time porsche owner who will never take part in any HP driving instruction during the length of ownership.

Meanwhile the CaymanS seems from I've heard to be doing better than the Boxsters. The high numbers of 986's now available in excellent condition will suffer on pricing because of the slumping 987 sales, but only hurting it to a point. Where that point is remains to be seen, either way its a good time to be buying a 987 and even better time for the 986 buyer. The high volume of well preserved 986's pretty much demanded the '05 redesign otherwise Boxster sales would be in even more trouble. Why spend $50K on "07 986" when I can get into an identical looking "2000 986" for $20-25K less. Meaning New Boxster sales will be limited mostly to "gotta have it" buyers, a small fragment of the roadster target market. I'll bet that the average buyer for the Cayman is in fact an enthusiast who belongs to PCA and has participated in at least one DE/autocross. I also figure the average CaymanS buyer has owned at least one Pcar previously, certainly in higher numbers than the 997. And the average Cayman buyer is also older than the late 40's-50'ish 997 buyer. (Kids are out of the house, no more need for the 997 rear seats to stick a child seat in)

Two very distinct types of buyer both dropping BIG dollars. With a 928 and Panamera in the works its going to get even better for the Porsche dudes. If Porsche can take a beating in SUV sales and still make record profits it tells where the company is.

p.s.
I always get a chuckle when I hear someone say "$70K for the entry level Porsche Cayman". If the Cayman buyer is a repeat customer how is it still an entry level car? and of course the term entry level should never be applied to any non-extoic $ 60-100K car
p.s.s.
Looks like Ferrari are going to seal the deal in FIA GT2 bt spanking Porsche in the Manufacturers cup. Next season will be an all sprint race schedule which will rob the 911 of its big reliability advantage. Time to start contemplating the CaymanRS otherwise the F430 might make it two years in a row.

[z12358]

"I bet the average 997 buyer is a first time porsche owner who will never take part in any HP driving instruction during the length of ownership."

I was just about to make the same point. Most 997 buyers are considering the 997 to be a great "flash for the buck bargain" compared to MB SL, Maserati, Aston Martin and others in the $100k area. They will never really drive it in a way that will show how much better the 987 design really is. They can't see themselves in a car that gets compared to a $30k Honda S2000, and they fail to understand how the 987 differs from both S2000 and 997. Most 987 buyers are enthusiasts and don't much care for image or flash. The fact that there are more 997 buyers just shows that the world still cares more for flash than substance -- which is ultimately great for a 987 buyer, especially the Cayman S Convertible.

Z.

[MNBoxster]

Originally Posted by z12358

"I bet the average 997 buyer is a first time porsche owner who will never take part in any HP driving instruction during the length of ownership."

I was just about to make the same point. Most 997 buyers are considering the 997 to be a great "flash for the buck bargain" compared to MB SL, Maserati, Aston Martin and others in the $100k area. They will never really drive it in a way that will show how much better the 987 design really is. They can't see themselves in a car that gets compared to a $30k Honda S2000, and they fail to understand how the 987 differs from both S2000 and 997. Most 987 buyers are enthusiasts and don't much care for image or flash. The fact that there are more 997 buyers just shows that the world still cares more for flash than substance -- which is ultimately great for a 987 buyer, especially the Cayman S Convertible.

Z.

Hi,

I dunno, both you and PerfectLap are relying on a lot of assumptions as to what you suppose comprise the 911 demographic.

What we do know is that the 911 is purchased 80% by men (as opposed to 64% for the Boxster and 50% for the Cayenne).

80% of these are ordered with Manual Transmissions (as opposed to 50% for the Boxster).

55% of these are Cabriolets (direct competition for the Boxster?). Pull those out of the mix and they're selling at the same rate as Boxsters.

There is a high % of leases of the 911 as Company Cars, perhaps indicating that if these people were spending their own money, they'd have gone another way. The coincident rise in unit sales with the availability of extended 74 and 96 month financing is also interesting.

But, what happened to the Boxster? It's off clearly 1/3 from it's all-time high units sold, and has declined in all the years since?...

Happy Motoring!... Jim'99

[z12358]

Originally Posted by MNBoxster

Hi,

I dunno, both you and PerfectLap are relying on a lot of assumptions as to what you suppose comprise the 911 demographic.

What we do know is that the 911 is purchased 80% by men (as opposed to 64% for the Boxster and 50% for the Cayenne).

80% of these are ordered with Manual Transmissions (as opposed to 50% for the Boxster).

55% of these are Cabriolets (direct competition for the Boxster?). Pull those out of the mix and they're selling at the same rate as Boxsters.

There is a high % of leases of the 911 as Company Cars, perhaps indicating that if these people were spending their own money, they'd have gone another way. The coincident rise in unit sales with the availability of extended 74 and 96 month financing is also interesting.

But, what happened to the Boxster? It's off clearly 1/3 from it's all-time high units sold, and has declined in all the years since?...

Happy Motoring!... Jim'99

Right or wrong, my assumptions come from experience. I know of many people who -- when deciding what car to buy -- mostly care about how much flash and image it will project per $ spent. So for them, 997 falls in the same category as CLS AMG. The 987 doesn't. They're the ones who get suprised by the fact that there's no engine in front under the hood. The ones that buy Lamborghini to "enjoy" on Manhattan.

Actually, the percentage statistics only confirm my assumptions. The 80% men buying 911s care VERY much about the fact that 911 is more "manly" than the Boxster ("chick" car) and are ready to pay up, lest their manliness gets questioned (God forbid). Same thing for the manual. And let's face it, the ones who do care about that image are still the ones who have more money than women, who are also more rational to boot.

Sadly, most Porsches are bought on image, and obviously much more so are 997s than 987s.

[Brucelee]

All I can say is that I find the 996 was the most overrated, most overpriced car I likely ever drove. That goes double for the $125K TT.

I think the 997 is perhaps a better car but candidly, I don't see the attraction given the price.

I do think a nicely cared for 987 S model, if purchased well, is a nice price point/value car.

With a warranty of course!

To me, I would not drive a Cayeene is you left it in the driveway. I would sell it, however!

[Perfectlap]

Originally Posted by z12358

"I bet the average 997 buyer is a first time porsche owner who will never take part in any HP driving instruction during the length of ownership."

I was just about to make the same point. Most 997 buyers are considering the 997 to be a great "flash for the buck bargain" compared to MB SL, Maserati, Aston Martin and others in the $100k area. They will never really drive it in a way that will show how much better the 987 design really is. They can't see themselves in a car that gets compared to a $30k Honda S2000, and they fail to understand how the 987 differs from both S2000 and 997. Most 987 buyers are enthusiasts and don't much care for image or flash. The fact that there are more 997 buyers just shows that the world still cares more for flash than substance -- which is ultimately great for a 987 buyer, especially the Cayman S Convertible.

Z.

well I think like the 997 a very large number of Boxster owners are not really dyed in the wool sports car enthusiasts and even fewer are sports car drivers.
Both groups are comprised mostly of those who have the means or will tolerate
the big depreciation. I think only CaymanS and GT3 have a majority enthusiast profile.

The bigger engines coming into the Boxsters in 2000 created allot of buzz which attracted allot of non-enthusiasts who wouldn't have ordinarily considered a roadster. As the buzz quieted down those buyers have gone elsewhere, other brands and more to the 911 camp after their top down fling. In this sense I think the 987 has not really delivered in enticing non-roadster types to give the Boxster a first chance. The steep pricing(even with deep discounts) hasn't helped matters.

also, if numbers continue to decline I would not put it past Porsha to discontinue the Boxster after a 15 year run or so. Continued higher production numbers for the 911 could make it cheaper to build a Cab than a Boxster making it more tempting to offer only one drop top pcar.
The upmarket direction of the new 928, Panamera and ultra expensive higher end 911's might tempt Porsche to "max their profits" by forcing Porsche brand hungry convertible buyers into a 911. The Cayman suffering a similar fate as well.