Porsche revenue increases by 4% to $14.24 billion (EUR 12.3 billion)
Porsche AG has seen a strong increase in profit, revenue, vehicle deliveries, and employees despite the economic and political challenges in the first half of 2018.
There was one percent increase in operating result to $ 2.54 billion (EUR 2.2 billion), a four percent rise in revenue to $14.24 billion (EUR 12.3 billion) and 17.5% operating return on sales. In the first six months of 2018, there was a 3% increase in vehicle deliveries to 130,598 and the overall workforce grew by about 5% to 30,785 employees.
Porsche AG Chairman, Oliver Blume said that “Our performance in the first half of the year has given us a strong basis for a successful 2018 financial year”
The company would continue to invest in Electrification, connectivity, and digitalization for the future growth of the brand. The launch of the Taycan would set a benchmark in the future of mobility. The Porsche 911 has seen a good demand in the sports car category.
Lutz Meschke, the CFO for the automaker believes that the company would have to adapt to the political and economic changes in order to achieve their estimated revenue. Porsche aims at achieving a 15 percent operating return on sales.
The Porsche Panamera has seen the greatest increase in terms of vehicle deliveries and 20,500 units of the four-door had been delivered by the end of June which is double the total during the same time last year. There has been 28 percent growth with the 911 amounting to 21,400 units. The Macan seen the highest vehicles deliveries with 46,600 and the Cayenne had 28,700 vehicles delivered. China remains the best market with 33,363 vehicles delivered far ahead of the USA which had 29,421 vehicles delivered.
Categories: Automotive News