Porsche Romania exits “billionaires’ club”, but retains 3rd position within the Austrian holding

The almost 60% car market decline in 2009 hammered Porsche
Holdings’ Romanian operations, with turnover going down from almost
1.36 billion euros, to almost 600m euros, but the Romanian unit is
still the biggest in Eastern Europe. Thus, the turnover of Porsche
Holding, the biggest player domestically, dropped by 56% in the
April 2009-March 31 2010 fiscal year. Of the total figure, almost
400m euros come as the turnover of the importer, with the gap
represented by Porsche Inter Auto, the auto retail unit that
controls five dealers, Porsche Bank, Porsche Leasing and Porsche
Mobility. Amid the falling revenues, the Romanian unit also posted
the biggest headcount reductions inside the Austrian group, by
almost 16% to 865 persons. Most reductions were operated at the
level of Porsche Inter Auto dealers. Most likely next year, Porsche
Inter Auto will open its fifth car centre of Bucharest in the wake
of investments of above 10m euros.