Porsche sales up by 25.5% in Q1

 

BERLIN – German sports car manufacturer Porsche on Wednesday reported growth of 25.5% in its sales revenue at €10.10 billion ($11.15 billion) for the first quarter, compared with €8.04 billion in the previous year.

Operating profit in the quarter increased to €1.84 billion from €1.47 billion last year.

Porsche, in which the Wolfsburg-based Volkswagen Group holds a majority stake, said deliveries to customers in the first quarter rose 18% year-on-year to 80,767.

Commenting on the results, Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT at Porsche said: “The significant growth is due to a number of factors: higher Group sales, continued positive pricing and mix effects. We keep driving our strategy of modern luxury forward, in the interest of our customers.”

Looking forward, Porsche backed its full-year sales revenue in the range of €40 billion – €42 billion.