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. Read the rest of this entry »