Cayenne and Panamera Help Boost Porsche Sales by 86.4% Compared to Previous Quarter


Even in this harsh economical climate, Porsche sales continue to grow, as the German maker shifted 21,218 units in the first three months of the 2010 short fiscal year (August 1 – December 31). That's an impressive 86.4% growth compared to the same period last year, although Porsche management admits that the prior-year quarter was "relatively weak", so a higher growth rate was expected.
Revenue amounted to €2.06 billion (+80.3%), while the company's operating result reached €395 million for the same three month period.
The new Cayenne fared particularly well with 10,292 units sold (+151%), followed by the Panamera with 5,778 vehicles and a growth rate of 94%. The success of the 4-door coupe is due to the fact that last year it wasn't available on all markets and the six-cylinder model went on sale in May 2010. The 911's sales were also up, reaching 3,130 units (+20.4%), while the Boxster with 1,089 and Cayman with 929 vehicles remained the least coveted Porsches.
The Americas lead in terms of regional sales, up by 82% and totaling 7,268 units, of which 6,632 went to North America. Europe is close behind (7,082), while Asia and the rest of the world are third (6,868), albeit with the biggest growth rate (126%), fueled by the strong demand in China.
"We can be satisfied with the key indicators of the first three months. Porsche AG is continuing on a profitable growth course" said Matthias Müller, chairman of the executive board of Porsche AG.
"Due to the order intake worldwide in the past few months, we expect a good double-digit return on sales in the short fiscal year from August to December 2010. With this current order situation, we also anticipate a good start to the new fiscal year 2011" Lutz Meschke, member of Porsche AG's executive board in charge of finance and procurement, added.
Porsche's sales growth also helped create new jobs, with the company currently employing 13,043 people, a 2.5% increase over July 2010.
By Csaba Daradics