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

The 2018 Cadillac CTS-V sedan will be getting a new paint job that will give it a unique icy feel. Dubbed the Glacier Metallic Edition, this special model was built...
by - August 23, 2017
During the North American International Auto Show at Detroit in 2015, Hyundai introduced a concept pickup truck they named the Santa Cruz. This model took home the Concept Truck of...
by - August 23, 2017
Porsche introduces the technologically advanced wheels with braided carbon fiber. These will be initially available on the 911 Turbo S Exclusive Series. Being the first car manufacturer to offer such...
by - August 23, 2017
All eyes were turned to the fuchsia pink bespoke McLaren 720S MSO at the 2017 Pebble Beach Concours d’Elegance Sunday. Surely, we can understand why. The one-off supercar, which was...
by - August 23, 2017
Hyundai Motor Group – including both Hyundai Motor and Kia Motors – has disclosed a wide-ranging plan to introduce 31 environment-friendly models in a new development roadmap that aims to...
by - August 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