Porsche disclosed that its nine-month profit increased 25 percent, thanks to the demand for its best-selling Cayenne SUV. Operating profit improved to 1.51 billion euros or $2.14 billion from 1.21 billion euros on the same period last year, the company revealed on Friday in a statement. Sales boosted 20 percent to 7.93 billion euros.
The company's 19 percent profit margin is "outstanding" versus other high-end vehicle manufacturers, according to analyst Daniel Schwarz from the Frankfurt-based Commerzbank. He further discussed that the product cycle of the company is "very positive," adding that it will aid in offsetting the possible headwinds from the economy.
Supported by Volkswagen, which owns 49.9 percent of the car maker, Porsche intends to double deliveries to no less than 200,000 vehicles by 2018, adding new models and expanding in emerging markets. The company intends to boost sales to a record 140,000 units in 2012, an individual with knowledge of the matter disclosed on October 13.
Demand for overhauled variants of the Boxster and 911 could help the company protect itself from a sluggish economy. Porsche forecasted "significantly" higher operating profit and sales for the whole year. Sales of the Cayenne SUV increased 74 percent to 43,924 vehicles during the first nine months, while the Panamera four-door coupe improved 6 percent to 18,750 vehicles.
An intended merger of Porsche and Volkswagen targeted this year has been delayed by lawsuits in Germany and the U.S. The Porsche holding company owning 51 percent of Volkswagen has yet to report its third-quarter results.
The new Porsche Cayenne is out to prove that it has become a Porsche in a purer sense by becoming more dynamic, more efficient, roomier and lighter. Available in an array of five models, the next generation Cayenne has been developed according to the principle of Porsche Intelligent Performance, which calls for more power, greater efficiency, lower fuel consumption and lower carbon dioxide emissions.
In fact, the next generation Cayenne models -- as led by the Porsche Cayenne S Hybrid – boasts of up to 23-percent savings in fuel compared to their respective predecessors. Three of five models in the Cayenne range fall below the fuel consumption limit of 10 liters per 100 kilometers, as per the New European Driving Cycle. The Cayenne Diesel and the Cayenne S Hybrid also emit less than 200 grams of carbon dioxide per kilometer at 195 g/km and 193 g/km, respectively.
Porsche was able to achieve this level of fuel consumption throughout the entire Cayenne range by employing thermal management on the engine and transmission cooling circuit as well as by introducing its new eight-speed Tiptronic S automatic gearbox that features Auto Start Stop and a wider range of gear increments.
Moreover, Porsche was able to make the Cayenne more fuel efficient through recuperation of the on-board network, consistent reduction of weight, intelligent lightweight construction and variable overrun cut-off.
For instance, while the Porsche Cayenne Turbo features enhanced substance and boasts of higher standard of all-round safety, it is lighter by around 185 kilos (around 410 lbs) thanks to a weight-optimized mix of materials and concept changes and the use of extra-light all-wheel drive. This translates not only to lower fuel consumption and carbon dioxide emissions, but also to better performance, agility and handling.