AM Online

Porsche overjoyed with results

Porsche CEO, Dr. Wendelin Wiedeking has said it will be “difficult to suppress tears of joy” following an expected 14.2% rise in revenue for the first half of the year.

Sales are expected to have generated €3.5 billion (£2.6bn) of revenue and Porsche expects the second-half of the year to increase year-on-year by 18.7% to 46,000 units.

Porsche’s first-half profits will not be announced until March, due to Volkswagen’s figures for the fourth quarter of 2007 not being yet being announced.

Sales of the Porsche Cayenne 4x4 are expected to double in the first half of the year to 20,340 units, though the previous year’s figure of 9,940 units sold was affected by the discontinuation of the first generation Cayenne in November 2006.

Porsche currently holds a 31.5% stake in VW and is expected to increase its shareholding to a majority stake this year.

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