Porsche stock (again)

Dow Jones Newswires -- May 15, 2001

Dow Jones Newswires
Porsche: May Sell 51,000 Units In FY01 Vs 50,000 Forecast
Dow Jones Newswires

FRANKFURT -- Porsche AG (G.POR) said Tuesday that despite the weakening auto markets that are hurting some carmakers, it may sell even more cars in 2001 than the 50,000 it had originally forecast.

Manfred Ayasse, a spokesman for the luxury sports carmaker, said "51,000 is in the realm of possibility."

In Germany, production is already at the upper limits of capacity at 32,000 units, he added, and Porsche plans to make 19,000 units of its popular Boxster model this year.

But analysts say Porsche's forecasts tend to be very conservative, so even sales above 51,000 units wouldn't be surprising. Porsche's output was around 48,800 in fiscal 2000. Porsche's fiscal year ends July 31.

Experts have said that luxury car companies like Porsche are invulnerable to the economic swings that bear on sales of volume carmakers.

Company Web site: http://www.porsche.com

-By Beth Reigber, Dow Jones Newswires; 49-69-297-255-00; beth.reigber@dowjones.com

-0- 15/05/01 10-10G

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Briefing Book for: G.POR