After two years during which Porsche Romania was part of the "euro-billionaire club," this year the sales of the biggest local automotive importer could revert to the 2005 level, that is 550-650 million euros, according to ZF’s estimates.
The turnover of Porsche Holding posted a 4.5% decline on the local market in the fiscal year 2008-2009 that ended on March 31, down to 1.36 billion euros, according to the data published on the official website of the Austrian group.
This result includes the sales of the importer of the six brands of VW-Audi and Porsche, the retail division that includes five dealers, the financial division Porsche Bank, Porsche Leasing and the operational leasing division Porsche Mobility. According to ZF estimates, the business of Porsche Romania exceeded one billion euros in 2008, close to the value registered in 2007.
During the same period, the vehicle sales of the Austrian group on the local market posted a decline of more than 21% to 55,799 units.
Despite the fall, the Romanian-based business of Porsche Holding ranked third among the ten countries where the Austrians are present.
Austria and France are on the top two spots, with 4.5 billion euros and 3.3 billion euros respectively, while Hungary and the Netherlands rank fourth and fifth with 975 million euros and 531 million euros.
According to ZF’s estimates, Porsche Romania’s turnover derived from sales of vehicles alone in the first half revolved around 200 million euros, down more than 60%. Therefore Porsche Romania’s business this year could amount to 500-600 million euros, both from sales of cars and from after sales, which makes it the first player in the "Billionaire Club" whose business drops below the one billion-euro threshold, according to ZF’s calculations.
Porsche officials did not provide any comment on the information.
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