Porsche's global sales figures were the latest
indication on Wednesday that Germany's luxury carmakers are heading
for a boom year, despite the threat posed by Europe's ongoing debt
crisis.
Global Porsche sales raced ahead by 14 per cent in the first six
months of the year, the figures showed. They followed robust delivery
results by the Stuttgart-based carmaker's rivals - BMW, Mercedes Benz
and Audi.
Porsche said deliveries had risen 18.9 per cent in June compared
with the same month last year.
"We don't have a crisis," said Frank Biller, auto industry analyst
with the Baden Wuerttemberg state bank. Porsche expects to post
double-digit growth this year, driven by the release of its
new-generation iconic 911 model.
Demand in China, the world's biggest car market, has also helped
boost sales for the premium car manufacturers. Porsche said
deliveries to China had jumped by 24.5 per cent during the period
from January to June.
Audi, the luxury offshoot of Europe's biggest carmaker,
Volkswagen, reported a 12.3-per-cent jump in worldwide sales on
Monday, after deliveries surged by 38 per cent in China and by 16.5
per cent in the US.
The China Automobile Manufacturers Association said Wednesday that
vehicle sales in the country had grown by 9 per cent to 1.58 million
in June, despite signs that the nation's economy - the world's second
biggest - had lost momentum in recent months.
While BMW deliveries to China gained 31 per cent in the first half
of the year, Audi posted a 20-per-cent rise and Mercedes said
deliveries to the Asian economic powerhouse had grown by 8 per cent.
A quarter of Audi's sales now derive from China.
"Despite a noticeable headwind in the southern European markets,
where Audi performs better than the total market, the brand is
growing in all world regions," said Audi chief executive Rupert
Stadler.
He went on to say that Audi remained on course to achieve its
full-year target of a record 1.4 million car sales in 2012.
But the risks posed by the economic fallout of Europe's ongoing
debt crisis have dampened the mood among luxury carmakers.
"We sense a harsh wind," Stadler told the German finance newspaper
Boersen-Zeitung.
"Porsche successfully continued on its growth path in the first
half of the year," said Porsche's sales chief Bernhard Maier, adding
however, "We cannot separate ourselves from the economy as a whole."
"With regard to the European economy in particular, we will
continue to monitor developments closely and respond quickly if
necessary," Maier added. "Nevertheless, we are currently planning for
double-digit growth in 2012."
Releasing its figures last week, BMW reported more subdued figures
for Europe, with sales in its German home market nudging down by 0.6
per cent.
Still, BMW - the world's leading premium brand - was optimistic
about its business in the coming months.
"There will be additional new models arriving in the coming
months, which are expected to bring further momentum in the second
half of the year," said BMW sales chief Ian Robertson.
Total worldwide deliveries for Munich-based BMW, whose stable of
brands include its core BMW models as well the compact Mini and the
top-of-the-range Rolls Royce, gained 8.1 per cent in the first half.
