Porsche Sets Record Profits for 2011

Porsche has had a strong year in 2011 by setting new records for vehicle sales, revenue and profit.

Porsche sold 116,978 worldwide vehicles in 2011, which is a 21% gain over last year. Revenue was also up by 18% to €10.9 billion and profit was up to €2.05 billion, which is up from €1.67 billion in 2010. The company has a current liquid cashflow of €2.4 billion. 

“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. Once again we are setting standards in the sports car segment with our brand new model range; our international customers appreciate this. Last year, the strong demand enabled us to further consolidate our position as one of the most profitable car manufacturers in the world,” said Matthias Müller, President and Chief Executive of Porsche AG. 

Porsche wants to have an average return on sales of 15% by 2018 and boost sales to 200,000 a year by then as well. Porsche has grown its workforce by 16% over 2010 to 15,307 employees and it hopes to have 20,000 workers by 2018. 

Porsche revealed that it plans to have a new Cayman out in 2012 based on the body of the new Boxter. 

Sales of the 911 and Boxter were both down last year, but that makes sense given that Porsche announced new models for both cars. Its strongest sales came from the Cayenne, which sold about double the brand's next best selling model, the Panamera.