Porsche Expects Tough Year But Remains Positive image

Porsche expects the European debt crisis to severely affect the company’s sales next year.

“We have to be prepared. The debt crisis in Europe had a negative impact on the economy. There are clear indicators from other sectors,“ said CEO Matthias Muller.

But although the crisis knocks at the automaker’s doors, Muller is confident that by 2018 the company’s investments will reach 1 billion euro. In July the company sold 2,803 vehicles, up 1% from last year’s 2,768 vehicles. In the first seven months of 2012 Porsche sold 19,253 cars in the U.S, up 5% from 18,310 sold in the same period last year. In July Porsche sold 359 Boxter units, up 77% compared to July 2011, and it was also the first month it offered the 2013 Boxster models.

“Our all-new Boxster and 911 models continue to be in high-demand,” said PCNA’s President and CEO, Detlev von Platen. “In fact, for the year, we’ve sold 46 percent more 911 sports cars this year than last year – a tribute to the success of the new, seventh-generation 911.”

Now it remains to be seen whether Volkswagen’s plan to buy the remaining stake in Porsche will be met successfully. VW plans to buy the rest of the carmaker for 4.5 billion euro and avoid the income tax charge of around €1.5 billion.