Porsche achieves massive revenue in first quarter of 2012
On the back of an extremely ambitious plan for the future, Porsche recently recorded revenue and sales for the first quarter of 2012 on the back of the extremely successful 991 911 sales which were dramatically up on its predecessor, the 997.
For starters, Porsche increased worldwide sales by 29% up to 30,231 vehicles over the same period as last year, thus boosting revenue by 32.4% to just over 3 billion euro. Additionally, and arguably most importantly, the German company took on an additional 725 employees across the globe in the first quarter of the year with 16,032 employees now working for the company on the 31st of March.
Lutz Meschke, the Chief Financial Officer for Porsche said, “We are extremely satisfied with the first quarter 2012 results. We will keep this momentum going – exactly in line with our growth strategy. We can fund both the significant increase in investment and the development expenditure for expanding our model range out of our strong cash flow. And both of those things with a return on sales of 17.5 per cent, which is significantly in excess of our strategic target value of a minimum of 15 per cent.”
Although the Porsche 911 cannot be solely blamed for this influx of sales, it did play a major role with sales of the 911 alone increasing by 37.6 per cent over its predecessor, so it’s clear that the controversial electric-power steering isn’t putting prospecting buyers off. What’s more, Porsche also confirmed that it would be adding a further nine models or variants to its line-up this year with the majority expected to be derivatives of the 911.
The CEO of Porsche, Matthias Muller concluded by saying “Behind these extremely gratifying figures is a clearly defined line: we focus systematically on solid, sustainable and high-quality growth. The youngest and most efficient model range of all time gives us an outstanding platform on which to sustain this course throughout 2012.”