Detroit Bureau on Twitter

Posts Tagged ‘porsche sales’

Volkswagen Delivers Solid Profit Despite Diesel Scandal

U.S. buyback program set to get underway.

by on Oct.27, 2016

The Porsche Macan helped drive big profits for the brand - and for parent Volkswagen AG.

As it begins to see its massive diesel scandal fade into the rearview mirror, Volkswagen AG reported Thursday a big jump in third-quarter earnings.

The German maker had a net, after-tax profit of 2.34 billion euros, or $2.55 billion. By comparison, VW went 6.7 billion euros into the red a year ago as it set aside funds to cover fines and legal costs triggered by the revelation it had rigged emissions tests on its 2.0- and 3.0-liter diesel engines.

A Profitable Source of News!

On Tuesday, a judge in San Francisco gave final approval to a nearly $15 settlement with U.S. and California regulators covering the smaller of the two powertrains. That includes up to $10 billion to buy back the 475,000 Audi and Volkswagen brand vehicles sold in the U.S. using that engine. VW says buybacks are likely to begin by mid-November, though the maker still hopes to come up with a technical fix for at least some of those vehicles.


Diesel Scandal Continues to Hammer VW

March sales plunge, but sibling Audi, Porsche brands largely unscathed.

by on Apr.01, 2016

VW's big incentives haven't been able to overcome the loss of its TDI models.

The ongoing crisis triggered by Volkswagen’s diesel emissions cheating scandal continued to take a toll on the automaker last month.

The VW brand reported a 10.6% sales slide last month, making it one of the few brands to see a dip at a time when the American car market is running red hot. The downturn came despite a sharp increase in VW incentives in recent months.

The Last Word!

The news wasn’t all bad, however. VW did see a strong upturn in demand for its newly updated Tiguan sport-utility vehicle, and sibling brands Audi and Porsche scored big sales gain in March, despite also being tainted by the diesel scandal.


Volkswagen Reports 20 Percent Profit Jump

Audi, Porsche results lead to strong results.

by on Feb.27, 2015

VW CEO Martin Winterkorn is expressing caution about 2015 after a strong 2014.

Volkswagen reported a 20% increase in net profits in 2014 and despite predicting it would meet it’s lofty ambition of selling 10 million units this year – three years early – it is cautious about 2015.

“Given the subdued growth prospects in regions outside China, there is no guarantee that 2015 will be a successful year – either for the industry or for the Volkswagen Group”, said Chief Financial Officer Hans Dieter Pötsch.

Automotive Insight!

The automaker was led by strong sales years by its luxury unit, Audi, and sports car maker, Porsche. Actually, if you include heavy-duty trucks, VW exceeded that number by delivering a total 10.14 million, which is an increase of 4.2%. However, the number was meant for passenger cars and it expects to hit the number. (more…)

Porsche Sales Push German Makers to Record Highs

German luxury makers enjoying impressive sales results in 2014.

by on Dec.11, 2014

The new GT3 is the most powerful naturally-aspirated 911 Porsche has ever produced.

Porsche AG confirmed that 2014 has been a banner year for the makers of high-priced German automobiles: sales for Porsche as well as luxury German makers are at or near all-time highs.

With 2014 nearly complete, Porsche is moving along in high gear as it cruises to record worldwide sales again this year. During November alone, Porsche delivered 17,700 vehicles – an increase of 25% over the same month last year, according to the German automaker.

Sign up for a Free Subscription!

“This strong November is evidence that our strategy is working extremely well,” said Bernhard Maier, Member of the Executive Board – Sales and Marketing, Porsche AG. “It also confirms our commitment to taking advantage of every opportunity presented in the global markets,” he said. (more…)

Porsche Working Up Plans for 7th Product Line

A “Baby Panamera” is just one option as Porsche considers “a cornucopia of ideas.”

by on Feb.20, 2014

Porsche CEO Matthias Muller showing off the new Macan during a presentation at the maker's manufacturing center in Leipzig, Germany.

Even as they prepare to launch their latest all-new product, the compact Macan sport-utility vehicle, Porsche’s top executives are already mulling over plans for what could soon become their seventh unique model line, has learned.

A variety of options are under consideration, CEO Matthias Muller revealed during a series of conversations at the Leipzig complex that recently began producing the new Macan.  Among the possibilities is a smaller version of the German maker’s current four-door sedan which some are referring to as a “Baby Panamera.”


“We have six models but should have seven,” Muller said during a casual dinner at the sprawling Porsche center which recently went through a 500 million Euro expansion to take on production of the Macan. The maker, he added, will soon move forward on the new product program.


Reviving Housing Market Adds Boost to Auto Sales

Car buyers turn blind eye to Washington budget battle.

by on Mar.01, 2013

Porsche - its Boxster shown here - delivered February's biggest sales gain.

For the last several years, automotive sales have helped carry the struggling economy.  This time, however, the recovering housing market appears to be giving a boost to the auto industry.

February sales showed unexpectedly solid momentum, automakers are reporting today, despite concerns about recent fuel price spikes and the potential damage that the ongoing budget battle in Washington could cause to a still-fragile economy.

As in recent months, cheap financing and pent-up demand helped propel the car market, but industry analysts say other factors helped drive a roughly 7% increase for February in the sales of new cars, trucks and crossovers.

The Last Word!

“The housing sector has now joined auto sales in propelling the U.S. economy forward,” said Kurt McNeil, vice president of U.S. sales operations for General Motors, which reported a 7% increase, year-over-year. “More importantly, the recovery in new home construction is reinforcing the underlying improvement in auto buying conditions, especially for pickups.”


Porsche Betting Macan Will Be Its Best-Seller

New crossover could account for 40% of maker’s volume.

by on Sep.13, 2012

Porsche has offered just a sketch of the Macan but could reveal more at the upcoming Paris Motor Show.

Porsche is clearly counting on the new Macan crossover to deliver big next year, accounting for perhaps 40% of its total global sales volume, a significant feat for any vehicle, never mind an all-new and untested product.

Named for an Indonesian tiger, the Macan is a downsized counterpart to the long-popular Porsche Cayenne and is based on the same platform as the Audi Q5.  Porsche promises it will “combine all sports car characteristics with the benefits of an SUV.”

Subscribe Now! It's Free!

The benefits to Porsche, in fact, will be on the bottom line, the maker now telling suppliers to tool up to provide parts for 75,000 of the crossovers next year.  That’s a big jump from Porsche’s original forecast that it would sell just 45,000.


Porsche Aims to Double Volume with New Models

Maker counting on emerging markets but sees more opportunities in U.S., Europe.

by on Nov.09, 2011

The planned Porsche Cajun will be one of a number of new models the maker is planning, company officials told

Porsche intends to more than double its current global sales volume – while maintaining its position as the world’s most profitable carmaker – with the steady addition of new products.

The maker believes that much of its growth, going forward, will come from emerging markets like China, Russia and India, but it also believes there’s a significant opportunity to build demand in established markets such as the U.S. and Europe, company officials stressed during a California preview of the 2012 Porsche 911 Carrera S.  (For a review of the 7th-generation 911, Click Here.)

Power Up!

“It is our objective to remain the world’s most profitable auto manufacturer,” said Porsche Board Member Wolfgang Hatz.

That doesn’t necessarily mean the German maker can keep up with a Toyota or Volkswagen – in terms of raw dollars – but on a percentage basis it is setting the benchmark, with a target of holding at a 15% Return on Sales, or ROS, and a Return on Investment, or ROI, of 21%.


Porsche Makes Plans for New U.S. HQ

Will include “Customer Experience Center.”

by on May.12, 2011

With sales booming and new products like the Cajun crossover coming, Porsche prepares plans for a new U.S. headquarters.

With its sales on the upswing, Porsche Cars North America has announced plans for a lavish new headquarters in Atlanta, near the brand new International Terminal at Hartsfield-Jackson Atlanta International Airport.

The plans call for the construction of a new office building to house 400 employees, including a Technical Service and Training Center, as well as a brand new Customer Experience Center that will feature a handling road course to show off the capabilities of Porsche’s industry-leading vehicles.

Groundbreaking is planned for this fall with the move-in date scheduled for the second half of 2013, Porsche officials said.

Fun to Read!

“The unparalleled nature of the Porsche ownership experience absolutely deserves an equally unique home. That is what we’ll create with our new headquarters – a concept completely new to the U.S. automotive industry, and one that delivers our brand and product experience to our employees, dealers and customers alike,” said Detlev von Platen, President and CEO of Porsche Cars North America.


Porsche Quadruples Profits

Credit non-traditional models.

by on Mar.18, 2011

There's reason Porsche's Panamera is on a pedestal.

Say the name, “Porsche,” and sleek sports cars like the 911, Boxster and Cayman quickly come to mind for most folks.  But for the German maker’s management – and investors – the models that matter are Cayenne and Panamera.

While purists might bristle at the idea of Porsche’s expansion into SUVs and four-door models, those non-traditional offerings are bringing major financial gains, Porsche more than quadrupling its earnings in 2010.

News You Can Use!

And the jump from $227 million in profits for 2009 to $960 million, last year, came despite a shortened fiscal year.  Revenue for the adjusted August to December period soared 59%, to 3.87 billion Euros.

Crossover/SUVs are very definitely a part of the sports carmaker, today.  The Cayenne accounted for 20,770 sales during the 5-month fiscal “year,” while the relatively new Panamera saw a 44% jump in demand, to 9,385 during the period.