Porsche wants to reach the fabled 200,000 number by 2016 image

Porsche, long time known for the 911 sports car and nothing else, wants to build on the success of its expanded line-up and reach its 200,000 sales target in 2015 or 2016, around three years earlier than originally planned.

Chief Executive Officer Matthias Mueller said investments in expanding and modernizing factories in the Stuttgart region will exceed 1 billion euros ($1.32 billion) by 2018, and the manufacturer also plans to decide on a new model line next year.

“Porsche has made an enormous leap forward over the last years,” Mueller said today at a press conference at the carmaker’s museum near division headquarters in Stuttgart.

Porsche accounted for 1.29 billion euros of VW group first-half operating profit of 5.78 billion euros, the third-largest earnings contributor after the Audi premium unit and the mass-market VW car nameplate.

Porsche, which ranks first at Volkswagen in terms of profit per vehicle, plans to expand its sales network 33 percent by 2018 as demand for upscale vehicles jumps in emerging markets such as China and the division adds models. The carmaker, which builds the best seller SUV Cayenne, is investing 200 million euros annually to increase the number of dealerships to 1,000 outlets in five years from about 750 in early 2013.

Next up, at the Frankfurt car show beginning next week, Porsche will be showing the 918 Spyder, a $845,000 limited-run hybrid supercar – their most expensive model so far.

Porsche handed over a record 143,096 vehicles to customers in 2012, an increase of 22% year on year and the eight-month sales rose 15% from a year earlier to “about” 107,000 cars and SUVs, keeping Porsche on track to cross the 150,000-delivery threshold this year for the first time, Mueller said.

Via Bloomberg