PORSCHE KEEPS THE GOOD TIMES ROLLING

Revenues and sales on the up and up

Porsche delivered no fewer than 130,598 vehicles worldwide in just the first six months of 2018. Combined with record revenues of 12.3 billion euros over the same period, it makes for the most successful ever first half of the year for Porsche.

Unit sales were up three per cent overall compared to the same period last year and it was the Panamera that enjoyed the strongest percentage growth. By the end of June, Porsche had delivered 20,500 units of the four-door sports car, almost double the figure from the same period of the previous year. But the evergreen 911 also saw double-digit growth with an increase of 28 per cent, amounting to 21,400 vehicle deliveries. Annualised, that should make for roughly 40,000 911 sales in 2018, making the year among the most successful ever for the rear-engine model.

Porsche also divulged that the highest-volume series continue to be the Macan with 46,600 vehicles delivered and the Cayenne with 28,700 deliveries. Conspicuously not appearing in the data released was any mention of the 718 Boxster and Cayman twins. Porsche is rumoured to be pondering the future of its mid-engined entry level offering in existential terms and we can only assume the lack of mention indicates at best mediocre sales performance.

“Our performance in the first half of the year has given us a strong basis for a successful 2018 financial year”, said Oliver Blume, Chairman of the Executive Board of Porsche AG. “It is particularly pleasing to note that the iconic 911 is in such demand, given that this year we are celebrating ‘70 years of the Porsche sports car’. We are also continuing to invest in the future of our brand: Electrification, digitalisation and connectivity are major challenges that we are choosing to view as an opportunity. Next year will see the market launch of the Taycan, the first purely electric Porsche. It will set standards for the future of mobility”, said Blume.

That said, the outlook for the second half of the year looks rather patchier, in part due to the imposition of new emissions standards. Heavy investment in new technologies including electrification could also take some of the shine off results in the second half of 2018. “We will have some challenges to overcome in the second half of the year”, said CFO Lutz Meschke. Specifically, Meschke believes that the company will need to adapt to uncertain political and economic situations in key markets and also ensure that its model range is compatible with the new emission standards in Europe.