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.
Most Popular Stories
- Promoter McLean 'provided more musical joy than Dylan and Prince combined'
- I never set out to be a role model but it's great to be one ; IN THE HOTSEATBetter known by his stage name Wretch 32, Jermaine Sinclair is a 28-year-old rapper from London. In 2011 his debut album Black and White sold over a million copies and scored three top five singles. His latest single Blackout was released this week
- Emirati announces new film project at Cannes
- Contra Costa Times Chuck Barney column
- European Car Sales up First Time in 20 Months
- SET PHASERS TO DUMB Spock emotional and in love? Nonstop explosions? The highly illogical enterprise of J.J. Abrams' 'Star Trek'
- The News & Advance, Lynchburg, Va., Casey Gillis column
- Entrepreneurs Chase Social Media
- SINCE YOU ASKED [Pittsburgh Tribune-Review (PA)]
- Schedule packed with talent at the Fox