News Column

Porsche's First-half Profit Races Ahead on Surge in Global Sales

July 27, 2012

Luxury German sports carmaker Porsche is heading towards record sales this year after the group said Friday that profit raced ahead in the first half of the year on the back of a surge in global demand.

Stuttgart-based Porsche said operating profit jumped by 21 per cent in the first six months to 1.26 billion euros (1.54 billion) compared to the same period last year. Revenue rose 29 per cent to 6.76 billion euros.

"We're offering our customers outstanding sports cars," said chief executive officer Matthias Mueller releasing the results. "We can stay in the success lane even in economically difficult times."

The carmaker said vehicle sales rose 23 per cent to 68,940 cars during the first half with the group expecting to post record annual sales in 2012.

In line with other leading luxury car groups such as Audi, BMW and Mercedes Benz, Porsche's global sales have been powered ahead by strong demand in the world's two biggest auto markets - US and China.

Porsche's sales to China alone jumped 38 per cent to 15,638 vehicles during the first half of the year.

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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