Porsche Sales Jumped 13% During First Quarter

Porsche has managed to continue on the growth slope it started last year in the first three months of 2011, announcing a sales increase of 13 percent to 23,442 vehicles. As a result, turnover increased by 10 percent to €2.28 billion, while operational profit increased almost twofold to €496 million. Porsche has also manage to secure a double digit operating return on sales yet again, which is a very good result for an automaker.

“First quarter progress was outstanding. Porsche continues on a profitable growth trajectory”
, said Matthias Müller, Chairman of the Board of Management of Porsche AG. “Performance in the first quarter confirms our ambition to be able to finance the impending investment in new vehicle projects out of cash flow”, said Lutz Meschke, Porsche AG’s Chief Financial Officer.

The figures were bolstered by high demand for the ever-popular Cayenne SUV, of which 11,487 were delivered during the first quarter, translating into year-on-year growth of 62 percent. The Panamera followed with 4,715 units sold (previous year 4,990 units). Turning our attention to sportscars, the 911 achieved very good sales of 4,750 vehicles, chalking up a decline of only 17 percent, due to the impending change of model. Meanwhile, 1,512 vehicles were accounted for by the Boxster and 978 units by the Cayman.

Between January and February, Porsche produced 31,366 vehicles, nearly double as compared with what was achieved in the same period of last year. In Leipzig, 15,189 units of the Cayenne model line rolled off the production line, more than six times as many vehicles as in the same quarter of the previous year.

The growth in sales has also prompted Porsche to create more jobs. With a workforce of 13,510 on March 31st, the number of employees was three percent higher than the balance sheet date on 31 December, 2010. Each full-time Porsche AG employee covered by the collective pay agreement who joined the company on or before 1 August 2010 will receive a voluntary special bonus of €1,700 euro for the past short financial year 2010.
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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