Porsche sees stable earnings for 2014

Article by Christian A., on March 17, 2014

Porsche expects its earnings to stabilize this year as it makes investments the United States and China. The sports carmaker will concentrate its investment spending on adding distribution outlets in emerging markets, with around 30 new dealerships intended for China by 2015. Porsche said in a statement that investments in the US will reach $100 million.

Porsche posted a 6-percent rise in operating profit in 2013 to EUR2.58 billion ($3.58 billion), and its 18-percent return on sales was the highest margin of any division at Volkswagen Group. Porsche has managed to sustain earnings growth as weak demand for volume brands didn’t affect demand for upscale units.

Porsche said that its operating profit for this year will be "at least" at the 2013 level. "We're well prepared for the current fiscal year," chief financial officer Lutz Meschke said. Porsche posted a 15-percent rise in global deliveries in 2013 to a record 162,145 cars and SUVs. The carmaker saw demand for the Boxster roadster and Cayman sports car more than doubled last year and rolled out fresh variants of the 911.

In February, Porsche chief executive Matthias Mueller said the carmaker will top 200,000 in annual deliveries in 2015, three years earlier than initially planned as boosted by the new Macan compact SUV that will be available next month. [source: automotive news - sub. required]

Topics: porsche, sales

If you liked the article, share on:

Comments

Recommended

Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 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