Porsche reported its nine-month operating profit up 22.9% to 1.88 billion euro ($2.44 billion), due to record sales of the 911 sports cars and the Cayenne SUV.
The German automaker, owned by Volkswagen, declared that sales in the US increased 22.1% to 24,982 units, slightly exceeding those in China, which were up 35.4% to 24,859 units. Porsche’s increased sales also helped VW reach a net profit up 58% in the third quarter. Although VW expects an uncertain economic environment for the rest of the year, it still maintains its forecast foe earnings to equal those from 2011 and sales to be bigger.
BMW, Daimler and VW managed to reach increased earnings due to strong exports of the luxury vehicles in China and the US. VW also said that the weak demand in Europe keeps automakers from charging more for their products in the region. Volkswagen hit strong sales in its home market Germany, the US and China, where sales increased 21%.
From January to September, Porsche managed to sell 104,362 vehicles, up 14.7%, compared with 90,972 vehicles sold during the same period last year. Last month the Chinese market accounted for the majority of Porsche’s sales, with 2,818 cars delivered to customers in this country, up 31.3% from September 2011.