Porsche booked record sales, revenue and operating profit in 2011. Vehicle sales, led by the Cayenne SUV (59,873), rose 21% to 116,978 units worldwide, revenue was up 18% to EUR10.9bn euro and operating profit was EUR2.05bn versus EUR1.67bn in 2010, up 22%.
“For Porsche, 2011 was the most successful fiscal year in the company’s history, not just for sales but for revenue and operating profit as well,” said president and CEO Matthias Müller.
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Though sales are now dominated by the Cayenne SUV and Panamera four-door sedan (28,218 units in 2011), Porsche launched a redesign of its signature 911 rear engine sportscar last year and this year is replacing the Boxster and its Cayman spin-off. A smaller SUV, the Macan, arrives in 2014.
“The Cayenne is driving the healthy profit,” Frank Schwope, a Hanover, Germany-based analyst at Norddeutsche Landesbank, told Bloomberg News. “The bigger and more expensive the car, the higher the margins.”
