Daimler Cuts Earnings Forecast/ Stocks fall

[warot]

so the big 3 yanks are in trouble, and MB and BMW arent doing too brilliantly in these rough times. But how come I hear nothing about VAG and porsche. Surely they must be affected, especially porsche!

In the US at least, Porsche were down big time for Sept. Audi were also down but not quite as bad as everyone else. VW I'm not sure... but either way, there was not 1 positive number in Sept across the board.

 

[bmer]

But how come I hear nothing about VAG and porsche. Surely they must be affected, especially porsche!

As warot said above Porsche has also been hit by the economic downturn.

Volkswagen still insist they can match their (somewhat unambitious) sales target but we will see that on Thursday as they release their quarterly results.

 

[Imhotep Evil]

In early November BMW AG are to announce "more than 40%" plunge in net income ... Ouch!

As said: internal forecasts predict red numbers in total for BMW AG in late 2009 ... if the crisis continues.

Not good, not good ...

Btw ... we are about to see blue-chip fall down ... Due to almost dead credit market many companies have no access to new credits to refinance the old ones, to buy raw materials etc. Governments are trying to do everything to start the credit wheel again. Even some direct subventions to certain big companies are possible. The last possible solution - to save the big companies from bankruptcy - is the nationalization.

I'm pessimistic ... I'm afraid the world is heading towards socialism without even wanting that. Was Marx right after all? Socialism as the final phase of the world economic order? This time will progress to it naturally ... without revolutions. How ironic.

I'm sure we're about to see some major shifts in capital (re)distribution.

The new era is coming.

Nope capitalism will just re-invent itself. The big government and its keynsian policies are here to stay for now tough.

 

[EnI]

Porsche got enormous loans from several banks - and this VAG takeover won't be cheap.

I wonder what will happen with Porsche Automobile Holding SE - being completely leveraged, financial crisis going on, loans are getting more & more expensive, recession or even depression is coming.

In the normal situation the move won't be risky at all ... but now ... Ouch!

I'm afraid PAH will be sooner or later forced to sell some jewels from its brand portfolio ... Lamborghini, Bugatti or even Bentley.

If this crisis lasts quite long we'll see many drastic moves in auto industry (first is cutting production, second is cutting jobs, next is closing factories, and even ditching some models / brands). Some companies will bankrupt.

Last decades we were in the phase of overproduction. Demand / consumption was artificially boosted (by marketing and cheap loans / leases). Now the party time is over. We're going backwards.

Nope capitalism will just re-invent itself. The big government and its keynsian policies are here to stay for now tough.

Yes, it will re-invent itself. But into what?

 

[Gullwing]

porsche-reveals-plans-to-raise-vw-stake-to-75-in-2009