Slowdown takes toll on Porsche

Porsche SE reported a 15 percent drop in four-month sales and said it may delay taking control of Volkswagen AG as the credit crisis and global recession shatter demand for its iconic 911 sports car.

Revenue in the period through November may drop to "slightly above 2 billion euros", Porsche said at a briefing in Stuttgart, Germany, where the company is based. Year-earlier sales amounted to 2.36 billion euros.

Chief Executive Officer Wendelin Wiedeking said Porsche may no longer take 50 percent ownership of Volkswagen this year as the global economy contracts. Porsche, which posted a record 6.39 billion-euro profit in the 12 months through July, will halt production at its main plant for seven days between now and the end of January after deliveries fell 50 percent in October, including a 40 percent decline in sales of the trademark 911.