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Crisis Hits German Luxury Carmakers

Der Spiegel -- In the first sign that the global economic crisis may be returning to the luxury car industry, Germany's Daimler has reduced its earnings forecast for next year, while Porsche said it would also build fewer cars. The market in China, which helped keep German manufacturers above water in recent years, is slowing.

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Submitted Sep 22, 2012 By: Eugenian

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honda0105 Champion Author Tallahassee Posts:18,828 Points:1,637,220 Joined:Nov 2008	Message Posted: Sep 24, 2012 11:10:49 PM Ignore honda0105 Report Abuse Truth: maybe... but I agree, China is a big factor on the world economic stage, no doubt.
TruthMatters Champion Author New Jersey Posts:2,586 Points:558,555 Joined:Oct 2011	Message Posted: Sep 24, 2012 6:03:03 AM Ignore TruthMatters Report Abuse Xenophobes take note: As China goes, so goes the world!
HailstormCA Champion Author San Diego Posts:7,955 Points:1,491,945 Joined:Nov 2008	Message Posted: Sep 23, 2012 9:28:00 AM Ignore HailstormCA Report Abuse Oh, the shame of it all.
DanMtz Champion Author Oakland Posts:3,496 Points:1,271,125 Joined:Oct 2009	Message Posted: Sep 23, 2012 8:31:45 AM Ignore DanMtz Report Abuse Oh, what a crisis! Cognac imports to Germany will surely take a hit...
tomok Champion Author Portland Posts:33,599 Points:2,373,210 Joined:Aug 2006	Message Posted: Sep 23, 2012 3:42:20 AM Ignore tomok Report Abuse Crisis! Der Spiegel! Crisis! The economy is much worse than what politicians will let you believe and it does not matter what manufacturer or country it affects. 'Coming out of the closet' Chucks lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Chuck's economy is not improving but continues to hurt the population and the job numbers continue to be down – no matter how smoooooth talking Chuck spins those numbers and he can spin them! People will still drive and buy fuel, no matter what, but it sure helps to have a job too! A brand of luxury vehicle I will never drive, afford or ever care about! Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! 12/22/2012!
us4usa Champion Author Missouri Posts:6,120 Points:1,137,585 Joined:May 2008	Message Posted: Sep 22, 2012 11:11:14 PM Ignore us4usa Report Abuse I called last week to canc. our order... When asked why, I told them we had to buy gas and food this week...
kcboy Champion Author Utah Posts:4,089 Points:1,533,170 Joined:Jun 2005	Message Posted: Sep 22, 2012 11:09:24 PM Ignore kcboy Report Abuse Ok
rtw777 Champion Author Florida Posts:9,536 Points:1,869,695 Joined:Jan 2008	Message Posted: Sep 22, 2012 11:05:09 PM Ignore rtw777 Report Abuse Luxury cars are not a good indicator for the economy.
carinthuist Champion Author San Francisco Posts:2,373 Points:355,165 Joined:Mar 2012	Message Posted: Sep 22, 2012 10:57:47 PM Ignore carinthuist Report Abuse economy cutting on luxury autos
tidalwave3 Champion Author Tallahassee Posts:1,368 Points:1,489,680 Joined:Jun 2008	Message Posted: Sep 22, 2012 10:56:55 PM Ignore tidalwave3 Report Abuse It will catch up to you ...
PithyOpiner Champion Author Stockton Posts:16,394 Points:1,624,270 Joined:Jun 2008	Message Posted: Sep 22, 2012 10:56:38 PM Ignore PithyOpiner Report Abuse Well, tell 'em to lower their prices. Their cars are too expensive for us poor slobs.
HA4CNN Champion Author Toronto Posts:5,765 Points:1,571,190 Joined:Dec 2006	Message Posted: Sep 22, 2012 10:54:56 PM Ignore HA4CNN Report Abuse When times get tough spending slows.
wang91554 Champion Author San Jose Posts:3,310 Points:1,229,585 Joined:May 2009	Message Posted: Sep 22, 2012 10:49:17 PM Ignore wang91554 Report Abuse counting on chinese consumers is always iffy
q2 Champion Author Alberta Posts:2,174 Points:407,045 Joined:Nov 2008	Message Posted: Sep 22, 2012 10:46:10 PM Ignore q2 Report Abuse ok
Marson Champion Author Scranton Posts:9,082 Points:2,104,885 Joined:Oct 2006	Message Posted: Sep 22, 2012 10:45:17 PM Ignore Marson Report Abuse It sounds like China is on the brink of a big economic problem.
AKmailman Champion Author Alaska Posts:5,763 Points:1,585,565 Joined:Jul 2004	Message Posted: Sep 22, 2012 10:44:07 PM Ignore AKmailman Report Abuse mercs and porsches aren't what they used to be
bonzoonfmb Champion Author Florida Posts:1,817 Points:664,910 Joined:Feb 2010	Message Posted: Sep 22, 2012 10:43:27 PM Ignore bonzoonfmb Report Abuse I believe that China is going to have some severe economic problems in the near future. The news that the German economy is slowing now also is not good news but not unexpected. The German automakers have a product mix that is well-rounded and in high demand during most economic conditions. They do not tool their factories to produce large vehicles that are only in demand during times of accelerated economic growth.
lesndave Champion Author Texas Posts:3,173 Points:728,630 Joined:May 2011	Message Posted: Sep 22, 2012 10:42:22 PM Ignore lesndave Report Abuse Hmmmm
charladan All-Star Author Virginia Posts:564 Points:467,190 Joined:Jun 2011	Message Posted: Sep 22, 2012 10:38:24 PM Ignore charladan Report Abuse Harley Davidson is staying profitable only because of China also.
skyking19 Champion Author Little Rock Posts:2,021 Points:1,723,490 Joined:Jan 2007	Message Posted: Sep 22, 2012 10:38:19 PM Ignore skyking19 Report Abuse Global economy is in the skids for a few more years.
trytogetby All-Star Author Cincinnati Posts:910 Points:224,845 Joined:Apr 2012	Message Posted: Sep 22, 2012 10:37:48 PM Ignore trytogetby Report Abuse Well that's just to bad . My heart bleeds for the rich , spoiled people.
WIWalt Champion Author Wisconsin Posts:1,852 Points:441,965 Joined:Mar 2012	Message Posted: Sep 22, 2012 10:34:59 PM Ignore WIWalt Report Abuse The good old days are a thing of the past never to return
Jeeputtputt Champion Author Ohio Posts:3,002 Points:677,465 Joined:Aug 2009	Message Posted: Sep 22, 2012 10:32:17 PM Ignore Jeeputtputt Report Abuse O' what a shame..
mplato Champion Author Columbia Posts:8,394 Points:1,843,945 Joined:Jun 2004	Message Posted: Sep 22, 2012 10:30:56 PM Ignore mplato Report Abuse this is the second dip caused by obummer...world wide again
OGW Champion Author London Posts:5,446 Points:1,558,085 Joined:Sep 2005	Message Posted: Sep 22, 2012 10:30:23 PM Ignore OGW Report Abuse We can't afford cheap cars let alone luxury vehicles.
eswi Champion Author Madison Posts:2,686 Points:711,080 Joined:Mar 2009	Message Posted: Sep 22, 2012 10:28:04 PM Ignore eswi Report Abuse OK
Thadius330 Veteran Author San Antonio Posts:403 Points:90,820 Joined:Aug 2012	Message Posted: Sep 22, 2012 10:26:55 PM Ignore Thadius330 Report Abuse Ok
WE0H Champion Author Twin Cities Posts:1,562 Points:489,725 Joined:Feb 2011	Message Posted: Sep 22, 2012 10:24:07 PM Ignore WE0H Report Abuse You think the high gas prices have something to do with it?
nimpy Champion Author Indianapolis Posts:8,275 Points:1,728,805 Joined:Oct 2007	Message Posted: Sep 22, 2012 10:22:58 PM Ignore nimpy Report Abuse Why don't I feel sympathy
TRYWI All-Star Author Appleton Posts:898 Points:282,150 Joined:Jan 2012	Message Posted: Sep 22, 2012 10:22:24 PM Ignore TRYWI Report Abuse ok
mrbee Champion Author Little Rock Posts:3,894 Points:2,493,530 Joined:Oct 2005	Message Posted: Sep 22, 2012 10:22:08 PM Ignore mrbee Report Abuse Oh no!
Tekkersmom57 Champion Author Syracuse Posts:2,019 Points:728,890 Joined:May 2010	Message Posted: Sep 22, 2012 10:21:40 PM Ignore Tekkersmom57 Report Abuse I'm not really surprised with the information in this article. There are rough times and cut backs all over. Our economy is presently in the dumps and needs to somehow find a way back out.
WIPACKERFAN Champion Author Chicago Posts:8,944 Points:1,871,150 Joined:Aug 2005	Message Posted: Sep 22, 2012 10:19:30 PM Ignore WIPACKERFAN Report Abuse This is a global economy.
pizzaman09 Champion Author Indiana Posts:1,463 Points:1,230,215 Joined:Feb 2009	Message Posted: Sep 22, 2012 10:18:29 PM Ignore pizzaman09 Report Abuse OLE WELL.
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Sep 22, 2012 10:13:52 PM Ignore abcdMA Report Abuse the economy is going to drop back into recession soon
serrog Champion Author Nova Scotia Posts:5,705 Points:1,539,830 Joined:Oct 2008	Message Posted: Sep 22, 2012 10:13:38 PM Ignore serrog Report Abuse More than that in crisis
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Sep 22, 2012 10:12:20 PM Ignore mstearno Report Abuse no enonomy?
DEG Champion Author Las Vegas Posts:17,745 Points:3,519,480 Joined:Jul 2003	Message Posted: Sep 22, 2012 10:11:27 PM Ignore DEG Report Abuse Sorry for the German automakers. However, a slowing in China may have benefits worldwide.
Bleeder Champion Author Virginia Posts:8,038 Points:1,718,475 Joined:Jan 2008	Message Posted: Sep 22, 2012 10:11:19 PM Ignore Bleeder Report Abuse That's what they have been making their money on for years. Time to live off their profits for a little while.
hammer219115 Veteran Author Pennsylvania Posts:411 Points:22,950 Joined:Aug 2006	Message Posted: Sep 22, 2012 10:07:10 PM Ignore hammer219115 Report Abuse Too bad
WeasleyOC Champion Author Orange County Posts:3,285 Points:829,800 Joined:Jul 2008	Message Posted: Sep 22, 2012 10:03:36 PM Ignore WeasleyOC Report Abuse Misery loves company.
TelsaOR Champion Author Oregon Posts:3,596 Points:740,215 Joined:Jan 2011	Message Posted: Sep 22, 2012 10:00:26 PM Ignore TelsaOR Report Abuse Economics.
achas Veteran Author Charlotte Posts:270 Points:43,545 Joined:Aug 2012	Message Posted: Sep 22, 2012 9:59:26 PM Ignore achas Report Abuse THEY WLL NOT BE THE ONLY ONES - MORE COMPANIES NOT JUST THE AUTO WILL BE TIGHTENING THEIR BELTS
v8gazguzler Champion Author Ottawa Posts:6,153 Points:911,935 Joined:Sep 2008	Message Posted: Sep 22, 2012 9:59:00 PM Ignore v8gazguzler Report Abuse Whatever!
badspots Champion Author Houston Posts:2,082 Points:693,980 Joined:Feb 2011	Message Posted: Sep 22, 2012 9:52:58 PM Ignore badspots Report Abuse Ok.
SavALot Champion Author Virginia Beach Posts:8,618 Points:1,739,185 Joined:Apr 2005	Message Posted: Sep 22, 2012 9:52:50 PM Ignore SavALot Report Abuse Are Volkswagen car owners safe?
danreino Champion Author Twin Cities Posts:8,479 Points:1,565,485 Joined:Mar 2008	Message Posted: Sep 22, 2012 9:49:33 PM Ignore danreino Report Abuse Must be rough...
dollarwatcher Champion Author Wisconsin Posts:8,085 Points:1,562,920 Joined:Mar 2007	Message Posted: Sep 22, 2012 9:48:53 PM Ignore dollarwatcher Report Abuse Wonderful, Now I'll have to wait longer for my Porsche.
megadiesellv Champion Author Atlanta Posts:1,474 Points:503,585 Joined:Sep 2011	Message Posted: Sep 22, 2012 9:47:30 PM Ignore megadiesellv Report Abuse Ok.
mcmonsta Champion Author Honolulu Posts:3,347 Points:845,470 Joined:Sep 2009	Message Posted: Sep 22, 2012 9:46:29 PM Ignore mcmonsta Report Abuse it will come back