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FRANKFURT (Dow Jones)--Porsche Automobil Holding SE (PAH3.XE) Friday said August-to-April sales fell 28% year-on-year to 53,635 vehicles, illustrating the problem luxury car makers face as consumers shy away from big-ticket purchases due to the economic slump.
The Stuttgart-based car maker reported revenue in the first nine months of its fiscal year fell 15% year-on-year to EUR4.64 billion. The revenue drop was less severe than the sales fall because the high-margin 911 model accounted for a larger portion of sales, leading to a better model mix. However, unit sales for the 911 model were also down 18% ...
File photo of a Porsche 911, Modell 997.On Friday, German automobile manufacturer Porsche reported that its August-April sales saw a drop of 28%, to 53,635 vehicles, after demand for luxury vehicles plunged as a result of the ongoing global financial crisis.

The firm also reported the revenue in the first three quarters of its fiscal year, which was at 4.64 billion euros after having fallen 15%. The overall decrease in revenues was due, in large part, to the decrease in sales of the company's 911 model, which accounts for a significant portion of sales. The 911 unit sales were lower by 18% for the year.

"In the first nine months of the ongoing fiscal year, the Porsche subgroup could not avoid the downward trend that has overtaken the worldwide automobile industry," the automaker said.

"This is certainly no surprise, but the fact that there is no reference to earnings any more in the outlook could be seen as a negative sign," said an analyst for Sal. Oppenheim, Christian Breitsprecher, noting that the forecast "remains very unspecific".