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Porsche Sales and Profit Up; New Models Coming

Porsche is not slowing down with new models anytime soon as the German automaker is reporting extremely high sales numbers in recent months.

Even with a dragging world economy, Porsche has seen profit and sales increase particularly due to the tremendous success of the Cayenne. The automaker said that first-half year operating profit surged 59 percent as sales for the SUV more than doubled. Porsche is now targeting a new sales record of over 100,000 cars for this year. Sales were up by 26 percent from January to June alone with a total of 10,101 911's sold, 3,860 Boxster's and 2,339 Caymans.

All fall short of the Cayenne, which sold 28,405 vehicles. Porsche has also benefited from high demand in China. Sales were up there 47 percent to 11,712 units. In Europe, sales have increased by 10.5 percent to 18,853 vehicles. Porsche plans to double deliveries to at least 200,000 cars and SUV's by 2018 as they plan on adding new models and to continue expanding in emerging markets. Porsche has a stated goal of releasing at least one new model a year. The key model in 2011 will be the seventh generation 911, which debuts at the Frankfurt Auto Show in September.

Porsche will also launch a diesel version of the Panamera this month and the 918 Spyder will find its way into the market sometime in 2013. Consideration is also being taken for the Panamera to spawn an extended wheelbase version, coupe, and even a convertible. Plans have also been confirmed to develop another high-performance sports car to fill the slot between the 911 and the upcoming 918. Sound intense? We certainly think so. All of this expansion is due to parent company Volkswagen AG's aggressive plans to become the world's largest automaker by 2018.

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