And so it begins.......PAG's response to the current economy...
12-27-2008, 12:00 AM
#91
One of the main factors that are often missed is the easy financing made available in the past 5-10 years, lower interest rates and accessible credit boosted car sales across the board allowing cheap leases and frequent car changes. With the accumulated debt (at individual, corporate, and state levels), the golden days of cheap credit are over and I don't see this changing anytime soon, decision makers may refuse to recognize that over-consumption led us into this mess but it's the hard reality. In this sense, I disagree this is a confidence crisis, it's a real purchasing power crisis, I'm sure most people would love to consume but can no longer incur yet more debt to finance it. Lowering interest rates to 0% is a desperate effort at trying to reflate a bubble.
Cutting back on production was the obvious thing to do for Porsche, it was neither a good nor a bad decision to make, there simply was no alternative.
All best are off!
Regards,
Chris
Cutting back on production was the obvious thing to do for Porsche, it was neither a good nor a bad decision to make, there simply was no alternative.
All best are off!
Regards,
Chris
