Despite the global recession and continued economic uncertainty, the world’s premium car brands are enjoying big sales and profits. The reason comes from the emerging markets such as China and Russia where expensive luxury and performance cars are in hot demand.
Ferrari, Bentley and Mercedes-Benz have all announced record profits recently, and now Porsche is joining the fray with the announcement that its profits are up a staggering 59 percent compared with the same period last year.
In the first half of 2011, Porsche was busy generating an operating profit of $1.54 billion USD. There was a 26.3 percent increase in sales to 56,272 vehicles, and with the all-new 2012 Porsche 911 expected later this year, sales figures are expected to continue to climb.
The sales leader continues to be the Cayenne which is experiencing major market success. With 28,405 vehicles sold in total this year, Porsche’s SUV managed to more than double its sales between January and June 2011 compared with the same period of 2010, and accounts for approximately one out of every two new Porsches sold.
Following the Cayenne was the four-door Panamera, which has accumulated 11,567 sales over the same six month period, followed by the 911, which accumulated 10,101 sales. Porsche’s more affordable models, the Boxter and Cayman, sold 3,860 and 2,339 units respectively.
In terms of regions North America, remains Porsche’s largest market with 15,466 sales during the first six months of the year, followed by China with 11,712 sales and Germany in third with 6,734 sales.
With new models scheduled to arrive in the next few years, Porsche is well down the track to reaching its target of approximately 200,000 sales per year by 2018.