Porsche Reports First-Half Profit Up 21% image

Porsche announced that thanks to increased demand for the new-generation 911, first-half profit was up 21%.

The operating profit was up to 1.26 billion euro ($1.55 billion), compared with last year’s profit of 1.05 billion euro, and revenue saw an increase of 29% to 6.76 billion euro.

“We offer our customers outstanding sports cars that live up to the highest demands,” Matthias Mueller, the brand’s chief, said in a statement. “This way, we can stay in the success lane even in economically difficult times.”

From January to June sales jumped 23% to 68,940 vehicles thank to increased demand for the updated 911 sports car, which saw sales up 43%. The best selling markets were China (up 38% to 15,638 vehicles) and the US. Other models also sold very well, including the Panamera four-door sedan with sales up 31%, and the Cayenne SUV seeing an increase of 25%.

Porsche expects sales to increase 10% this year and expects higher profit, although it is investing a lot for new models. With VW’s help, Porsche aims at selling 200,000 units annually by 2018 and add to its portfolio the Macan compact SUV, beginning 2013.