Porsche reports Q3 profits to 1.5 billion euro image

Sports car maker Porsche AG, on Friday announced that the company achieved an operating profit of 1.51 billion euro, exceeding the comparable previous year’s figure of 1.21 billion euro by 25 per cent.

The maker of the iconic 911 said that 2011 sales revenue and operating profit will significantly exceed the previous year’s levels.

During this period, Porsche’s turnover rose by 20 per cent to 7.93 billion euro. Sales increased by 26 per cent to 85,872 vehicles.

Porsche’s Matthias Müller Chairman of the Board of Management said that most probably, Porsche will sell 100,000 cars this year – for the first time in its history.
The Cayenne SUV, proved to be Porsche’s most successful model line with sales of 43,924 units, an increase of 74 per cent.

The Gran Turismo Panamera managed 18,750 units, up six per cent. For life-cycle related reasons, sales of the 911 declined by twelve per cent to 13,777 vehicles.

The Boxster model line generated sales of 9,421 units (minus one per cent). The Boxster accounted for 5,631 and the Cayman 3,790 vehicles.

By region, China posted the most significant growth: + 82 per cent to 17,683 units, while American sales grew by 17 per cent to 24,839 vehicles. In the German market, sales in the period from January to September 2011 increased by five per cent to 10,422 units.