Luxury automaker Porsche doesn't need a government bailout to stay afloat, a fact that CEO Wendelin Wiedeking isn't hesitant to point out.
In a Frankfurt, Germany speech, Wiedeking pointed out Porsche's sales last year, which earned the company £7.4 billion in revenue. It's a figure Wiedeking projects will be beat this year. According to Motor Authority, the Porsche CEO criticized government bailouts of "inefficient private companies," pointing out that these irresponsible auto companies had previously operated for their own profit, but then wanted to socialize their losses when the auto market began to tank.
Stats for Automakers as Financial Pundits
Trending: Older & Chilly
Research: 3,869 clicks in 397 w
Interest: 4 minutes
Concept: Automakers As Financial Pundits
Related: 69 examples / 53 photos
Segment: Males, 18-35
Comparison Set: 25 similar articles, including: credit crunch rebellion, 74 ridiculous luxuries defying the credit crunch, and desire for luxury cars despite credit crunch.
Automakers as Financial Pundits
More Stats +/-
74 Ridiculous Luxuries Defying the Credit Crunch
Credit Crunch Rebellion
Desire For Luxury Cars Despite Credit Crunch
Exclusive Gift Catalogues