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Porsche expects profit to match the record one in 2013

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Porsche expects profit to match the record one in 2013

The premium sports car maker, a division of the Volkswagen Group, said technology and model introduction costs would limit the growth of its profit in 2014, even if sales continue to rise.

Don’t worry though for the German automaker – the company expects in 2014 the operating profit to at least be on the same level with 2013, when it went up by 6% compared to 2012 to reach a record 2.58 billion euros ($3.59 billion).

Lutz Meschke, the finance chief, said that Porsche needs to shield from rising cost attributed to efforts to cope with the emission-cutting technology costs triggered by the tougher EU regulations and will up the personnel spending as the new Macan triggered the addition of 1,500 new jobs at its Leipzig plant.

While saying all that, Porsche should also draw a new expansion target as it might very well achieve its 200,000 units sales target this year, three years earlier than originally anticipated. Chief Executive Matthias Mueller already said the sales for the year could reach a new record powered by the Macan sales start in April, after the two months that passed already saw a 3% sales spike to 23,286 cars.

Via Reuters

by Aurel Niculescu (my Google+) - Friday, March 14th, 2014 - filed under Industry, News, Porsche, Sales Reports. Image credit: .
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