I've always thought that luxury items follow a similar trend. When the times are booming, everything is moving. High End Audio is unlikely to buck the trend when things aren't so hot...
And times are not so hot right now. Since the word Porsche is probably mentioned as many times as any average piece of audio gear on this forum...
Porsche is starting to take a hit from coronavirus.
After a decade of sustained growth, the luxury sports car maker's deliveries fell 20.2% from January through March in the USA. Over the past few weeks, millions of Americans have lost their jobs, seen their 401(k) values plummet and shopped less during the pandemic.
Porsche, which produces luxury sports cars such as the 911, 718 Boxster, Cayman and Taycan, reported 11,994 total sales in the first quarter compared with 15,024 vehicles sold in the USA during the same period in 2019.
Sales of the company's famed 911 dropped 10.5% year-over-year. The German automaker's mid-engine 718 range slumped almost 40%, and its top-range sedan Panamera dropped 30.3%.
The company handed over a record-breaking 280,800 vehicles to customers in 2019, a 10% rise over 2018. SUVs powered last year's sales.
Amidst the pandemic, Porsche North America has three priorities, the company said in a news release: It's focused on protecting its staff, supporting mobility and helping dealerships manage the fallout.
Most of its employees work from home except for on-site support workers who practice social distancing. The brand is ramping up its e-commerce presence to make home delivery for new vehicles and home pickup and drop-off for service appointments commonplace.
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