German sports and luxury carmaker Porsche says it’s been swimming against the global economic downswing, setting profit, turnover, sales, and production records in the business year to July 31, 2008
But it admits it won’t be able to escape the significant slump in demand which has hit the worldwide automotive industry in the last few months and expects sales to fall in the 2008/2009 business year.
It says 2007/2008 was the most successful in its 60-year history. Group profit before taxes rose 46 percent to 8.569 billion Euro. Profit after taxes jumped 51 percent to 6.392 billion Euro.
Vehicle sales rose 1.2 percent to 98,652, fuelled mainly by the Cayenne luxury sports SUV. Its sales were 34 percent higher, at 45,478 a new record level.
Porsche seemed satisfied with the size of the drop in sales of the 911 which changed model series in the middle of the reporting period, affecting sales; 911 sales fell 16 percent, to 31,423. Boxster and Cayman sales dropped 16.8 percent, to 21,747.
Porsche built 105,162 vehicles in 2007/2008, a 3.3 percent increase. The Leipzig Plant was at absolute capacity, building a record 48,497 Cayennes – 34.1 percent more than in the previous year. It built 34,303 911a in Stuttgart-Zuffenhausen (down 12 percent) and Boxster/Cayman production dropped 16.3 percent, to 22,356.