Porsche profits, sales zoom ahead

28th January 2005, Comments 0 comments

28 January 2005, STUTTGART - Luxury car maker Porsche said on Friday it lifted sales and earnings in the six months to December as its sports utility vehicle Cayenne replaced low-slung sports cars as the German automotive manufacturer's main model. Provision sales in the period, which is the first half of Porsche's business year ending 31 July rose 3.4 percent to EUR 2.95 billion. Unit sales rose 9.7 percent to 35,660, of which 19,200 were Cayennes. Sales of the 911 rear-engined sports car series rose 19.5

28 January 2005

STUTTGART - Luxury car maker Porsche said on Friday it lifted sales and earnings in the six months to December as its sports utility vehicle Cayenne replaced low-slung sports cars as the German automotive manufacturer's main model.

Provision sales in the period, which is the first half of Porsche's business year ending 31 July rose 3.4 percent to EUR 2.95 billion. Unit sales rose 9.7 percent to 35,660, of which 19,200 were Cayennes.

Sales of the 911 rear-engined sports car series rose 19.5 percent to 12,300 as buyers snapped up new models, whereas the small mid- engined Boxster was hit by a 25.9 percent decline to 3,900 as buyers waited for the new model that first went on sale in late November.

Porsche shareholders were meeting Friday to hear a forecast of 80,000 unit sales in the 2004-2005 business year.

Net profit rose 4.5 percent to EUR 125 million and pre-tax earnings were up 6.5 percent to EUR 225 million for the first half.

DPA

Subject: German news

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