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Porsche Income Climbs 18%
Porsche AG posted a first-quarter operating profit of €528 million compared with €446 million in the same period of last year, buoyed by strong demand in China, Germany and the U.S.
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Porsche AG posted a first-quarter operating profit of €528 million compared with €446 million in the same period of last year, buoyed by strong demand in China, Germany and the U.S.
Revenue jumped 32% to €3 billion, and sales advanced 29% to 30,200 vehicles.
China overtook America as Porsche's largest market in the January-March period. The brand's sales soared 79% to 7,100 vehicles in China and rose 15% in the U.S. to 6,700 units. Porsche volume increased one-third to 3,900 vehicles in Germany.
The company says it expects its vehicle sales in China this year to outpace the market there by 15% to 20%.
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