Not even Porsche can hide from the current crisis in the auto sector (26.11.2008) je 18

Iconic German sportscar maker - Porsche - has recently managed to profit more from soaring shares than actual car sales. Its latest batch of record earnings reflected successful accumulation of shares in VW, but not even Porsche can hide from the current crisis in the auto sector. On Wednesday, Porsche announced it was cutting production - following similar steps by other carmakers as sales continue to fall. And it is now sounding cautious about future earnings.