Germany’s Porsche AG said it will cut prices for its sports cars in Britain from May 1 because of the strength of sterling.

The Stuttgart-based company said the price cuts would range from 7.2 percent for the 911 Carrera 2 Coupe models and 9.6 percent for the Boxster S.

Porsche expects the price cuts to boost sales in Britain of the Boxster and 911 models in its coming business year, starting August 1.

The company said it would also cut the price in Britain of its 2.7-litre Boxster by 8.2 percent, the Carrera 2 Cabriolet by 7.8 percent, the Carrera 4 Coupe by 7.6 percent, the Carrera 4 Cabriolet by 8.1 percent and the 911 Turbo by 9.2 percent.

The euro was trading at around 0.58 sterling in Friday morning trade, close to its all-time lows.

Weakness in the euro against sterling makes euro-zone exports cheaper in Britain.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.