Porsche Claims Profit of Over €1B for First Half of Year

Porsche released an earnings statement today showing that it made an operating profit of €1.07 billion in the first half of 2011. In the same period last year it made €675 million. That means that Porsche made a profit of over 1.5 times more than in the same period last year. 

Porsche placed the reasons for the massive growth in profits in the Cayenne and increased sales to the Chinese market. Porsche has produced 64,951 in the first part of the year and of those 31,661 have been the Cayenne SUV –nearly half. Sales in China were up 47.1% in China to 11,712 vehicles and sales in the rest of Asia were up a further 43.7%. 

When looked at on a per vehicle basis, this earnings statement shows that Porsche is making an average profit of €16,473 per vehicle, which is a profit equal to the total price of a well optioned VW Polo.