Return on sales has reached 10.4 percent.
Despite a tricky year for most sectors, the automotive industry is starting to rebound. This has been evidenced by Dodge's record sales of muscle cars, Volvo's impressive returns, and the strong success of various Asian brands. Porsche is a niche carmaker and offers far fewer mainstream products than the likes of Volkswagen, for example. Despite this, the Stuttgart-based marque is reporting revenue of €19.4 billion (approximately $22.6 billion). Revenue is great, but the manufacturer also achieved a return of 10.4 percent on its sales for the last nine months.
Chairman of the Executive Board at Porsche, Oliver Blume, puts part of this success down to diverse and attractive product offerings: "The new 911 and our electric sports car, the Taycan, impressively demonstrate our innovative strength, and their sales figures have exceeded our expectations."
Porsche reports sales of 25,400 units of the 911 since January, an increase of one percent compared to figures from 2019 for the same period. The Taycan was similarly successful, with an astonishing 11,000 units delivered from January to September. For a car that was only launched in September last year, and especially one as radically different to traditional Porsches as this, that's mighty impressive.
In total, Porsche delivered 191,547 cars to its customers worldwide since January. This is down five percent compared to 2019, but it's not as severe a drop as expected. As usual, China is the market with the biggest positive impact on sales, with 62,823 Porsches being delivered to customers in the country - almost a third of all deliveries worldwide. Porsche will be making the most of its success by reinvesting €15 billion into new technologies over the next five years.
Porsche says that even with investment remaining a priority, the company wants to achieve a return on sales of 15 percent. That's not possible for 2020, but it will surely become a reality soon enough.