Porsche is investing more to boost capacity at German sites

Article by Anita Panait, on September 9, 2013

Porsche is spending more money to expand its production capacity at its sites in Stuttgart and Leipzig, Germany. The sports car maker plans to invest over EUR700 million ($923.8 million) alone at its main Stuttgart site in the next five years, according to chief executive Matthias Mueller. Porsche has also announced investments of around EUR500 million to expand its Leipzig site.

The sports car maker is targeting to sell over 200,000 vehicles annually in 2015 or 2016 -- three years earlier than planned. Mueller said that the carmaker is planning to decide on a new model line in 2014. Porsche logged a five-percent surge in sales in August to 11,481 cars, and a 16-percent hike in deliveries in the first eight months of 2013.

The German sports carmaker is expected to top 150,000 deliveries in full-year 2013, higher than its 143,000 vehicle sales in 2012. Porsche posted EUR2.4 billion operating profit in 2012. Porsche’s parent, Volkswagen, managed to offset lower demand for its vehicle in Europe thanks to stronger earnings performance of its luxury brands. Porsche accounted for EUR1.29 billion of VW’s EUR5.78 billion operating profit in the first half of 2013.

If you liked the article, share on:

Comments

Recommended

We first heard of the fifth generation SEAT Ibiza earlier this year, and last week, the company finally revealed the all-new Ibiza at the international launch in Barcelona. The new...
by - May 22, 2017
The aftermath of the Takata airbag recall still largely resounds in the automotive industry, as big automotive companies like BMW, Mazda, Subaru and Toyota were extensively hit with what is...
by - May 22, 2017
Amid reports that major rival Volkswagen would cease producing 2016 and 2017 model year diesel cars following the wake of the "Dieselgate" scandal, it’s believed that Chevrolet sees its opportunity...
by - May 22, 2017
Honda recently whips out a new feature for the S660 Bruno Leather Edition. Any guesses? Well, it’s going to be an iPhone app that goes by the name Rev Beat....
by - May 22, 2017
And so it goes, Ford is not at all closing its doors to an all-electric F-150 pickup. The American manufacturer initially laid out its plans for an F-150 hybrid earlier...
by - May 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries