Success in uncertain times for Porsche: 10.4 percent return on sales!

Porsche Car - Togpear Magazine India

With revenue of 19.4 billion euros, the sports car manufacturer recorded a 10.4 percent return on sales in the last nine months.

“Our young, attractive product portfolio appeals to customers. I’m optimistic about the coming months. The new 911 and our electric sports car, the Taycan, impressively demonstrate our innovative strength, and their sales figures have exceeded our expectations.” 

Oliver Blume, Chairman of the Executive Board at Porsche AG

25,400 units of the classic 911 sports car were delivered in the first nine months of the year, corresponding to an increase of one percent year-on-year. The all-electric Porsche Taycan was launched in September 2019 and was handed over to almost 11,000 customers between January and September.

Since the start of the year, Porsche has delivered 191,547 cars to its customers worldwide. Although this is five percent less than in 2019, Porsche has managed to keep the drop at a moderate level when compared to the market as a whole.

The sports car manufacturer has profited primarily from the Chinese market, which has recovered quickly after the lockdown. Between January and September, Porsche handed over 62,823 vehicles to customers in China. This corresponds to almost a third of all its global deliveries. Demand is also recovering strongly in other markets.

Porsche is pursuing its investments in digitalisation and electrification

Despite the difficult conditions on the overall market, Porsche is resolutely pursuing its investments in digitalisation and electrification. 15 billion euros will be invested into new technologies over the next five years.

“Although this investment reduces our current result, in the long term it will help to secure the future of the company and jobs.”

Lutz Meschke, Member of the Executive Board responsible for Finance and IT

Besides the challenging market environment, currency effects have also had a negative impact on the result. However, Meschke emphasises that a return on sales of 15 percent still remains the strategic goal of Porsche AG.

“Due to the effects of the coronavirus pandemic, this is unrealistic for 2020 but, thanks to our long-term strategy, we are confident that we will achieve a double-digit return on sales at the end of this year.”

Yashvi Poonia
She grew up playing all the car games, and now nothing excites her more than taking a new car for a spin. From travel experiences through long drives to detailed analysis of the best of the wheels in the market, she has no stopping when it comes to the love of cars. She balances the role of a marketeer and writes about things she is passionate about - lifestyle, watches, and well, cars, of course!

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