Porsche's strategy shifts to cost cutting; Cost of launching Cayenne triggers efficiency drive.(News)

Automotive News Europe,  August, 2003  

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Hit by high launch costs for the Cayenne, Porsche is trying to cut costs by 5 percent over the next year.

Porsche is more profitable than most other major carmakers but the expense of launching the Cayenne sport-utility has had a big impact on the company's finances.

"The development, production and launch of the Cayenne was an enormous task for such a small company as Porsche," said spokesman Christian Dau.

Porsche CEO Wendelin Wiedeking has ordered efficiency measures in all departments. The internal goal is to achieve the 5 percent cost reduction in less than ...

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