Porsche predicts to be profitable again in 2011

Article by Christian A., on October 15, 2010

After a three-year loss, Porsche Automobil Holding SE predicts to be profitable again in 2011 based on sales of the Panamera sedan and because of the drop in the costs linked to a merger with Volkswagen AG. Porsche said it has set a goal to break even in the last five months of 2010.

Porsche, which will switch to calendar-year reporting next year, said that the net loss in the 12 months ended July 31 fell to 454 million euros ($633 million) from a loss of 3.56 billion euros a year earlier.

Matthias Mueller, who was tasked to lead Porsche’s carmaking operations last month, will be responsible for completing Porsche’s merger with VW next year and expanding models across four vehicle lines to double annual sales to 150,000 cars and SUVs by 2014.

It can be recalled that VW acquired 49.9% of the Porsche AG operating unit after Porsche botched a takeover attempt for VW.

Frank Schwope, an analyst at NordLB in Hanover, Germany, recommends holding the stock. He explained that the driving force in Porsche’s aim to be profitable is the “improving vehicle sales,” specifically the Panamera and Cayenne models.

He predicts that Porsche deliveries will reach nearly 100,000 in 2011 compared with about 81,850 in the 12 months through July. [via autonews - sub. required]

Topics: porsche, profit

If you liked the article, share on:

Comments

Recommended

Subaru has already announced that the all new Impreza will be out by fall this year. The 2018 model year not only gets a number of new upgrades, but it...
by - July 21, 2017
Do you ever wonder what challenges automakers have in selling limited edition cars? It’s different for each company but it can get stressful if the demand is high instead of...
by - July 21, 2017
Alpine is said to be developing an SUV which is believed to be the Porsche Macan’s closest rival. According to AutoExpress, the newly revived performance brand has been looking to...
by - July 20, 2017
Two years ago, there was a patent filed by Honda Motors under the name “baby NSX”. It then had a angular sports car design that is clearly mid-engine, and had...
by - July 20, 2017
The long awaited 2018 Buick Regal GS has finally been revealed by the company, following several leaked photos and information in the past few months. The thing is, if you’ve...
by - July 20, 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