Porsche said it expects flat underlying earnings this year as it invests further to expand production capacity at its German factories in Stuttgart and Leipzig.

The carmaker is investing more than EUR700m (US$923.8m) at Stuttgart in the next five years, said chief executive Matthias Mueller, while another EUR500m will go into expansion at Leipzig.

Mueller said sales rose 5.2% in August to 11,481 cars while eight-month deliveries were up 15.5% to 106,777 vehicles. For the full year, Porsche is forecasting sales to reach a new record high, passing 150,000 cars in 2013 after around 143,000 last year.

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