Porsche Reports 4.4 Billion EURO Loss
November 12th, 2009 by Brian
Companies are expected to suffer losses this year. Now the only thing unsettled is how much. Millions? Well for German luxury car manufacturer Porsche its billions! As reported over at AFP, Porsche has reported a 4.4 Billion EURO loss or $6.5 Billion which they account for their write-downs with another car company, Volkswagen. Apparently their failed bid to take over Volkswagen is being ruled as the main reason for their loss but considering the trend of the economy, this may only be the topping of the cake since we all know that hard times are really making life drastic, especially for luxury companies such as Porsche.
(Source) AFP
