Increase in sales and profits for PorschePorsche announces 2006 / 2007 fiscal year results
Australia. Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, set new sales and turnover records in the fiscal year August 01, 2006 to July 31, 2007.
As the Group announced in Frankfurt at the International Motor Show (IAA) on Tuesday September 11, provisional figures show a rise in Porsche Group sales to 97,515 vehicles (previous year: 96,794 units). This represents a 0.7 percent increase.
At the same time, turnover rose by 3.4 percent to 7.4 billion Euros. The previous year – excluding turnover of CTS Car Top Systems GmbH – it stood at 7.1 billion Euros. A further improvement in product mix was the main driver of this growth.
With an increase of 8.8 percent to 37,415 vehicles (previous year: 34,386), the 911 set its own record, making it the Group's most successful model line in the year under review. The 911 GT3 and the 911 Targa contributed to this success, as of course did the new 911 Turbo, which saw its first full fiscal year on the market.
The sporty Cayenne SUV’s progress was particularly encouraging, considering it underwent a model change during the fiscal year. Production of the first generation Cayenne was phased out in November 2006 – meaning there were three months when the Cayenne was not available until the new model was introduced in February 2007. Yet in spite of this, sales of 33,943 units were roughly equal to those of the previous year (34,134 vehicles). This bears out the outstanding response the Cayenne has received from customers.
In the hotly contested roadster segment, which in some markets saw sales figures fall, the Boxster/Cayman series stood its ground. The Cayman was able to compensate to a large extent for the decline in the Boxster, although the 26,146 units sold still didn’t quite match the 27,906 vehicles of the previous year.
The renewed increase in sales in the 2006 / 2007 fiscal year was achieved in spite of tougher competition on the international markets. For example, Porsche sales in North America dropped by 10.3 percent to 33,576 vehicles, having sold 37,431 units the previous year. Nevertheless, Porsche stuck unwaveringly to its policy of no discounts. In Germany, Group sales rose by 2.8 percent to 14,314 vehicles (previous year: 13,921).
Sales outside the two aforementioned big markets were up 9.2 percent to 49,625 units (previous year: 45,442). This upward trend was powered first and foremost by new markets such as China and Russia.
In total, 101,844 vehicles were produced, nearly matching the previous year’s 102,602 number. 38,959 of the 911 series rolled off the production line in Stuttgart-Zuffenhausen, 6.7 percent more than the previous year.
The Boxster/Cayman series, which owing to the great demand for 911s was solely assembled in Finland, totaled 26,712 units, after 30,680 such vehicles had been produced the previous year. The plant in Leipzig produced 36,169 Cayenne models, which represented a 3.0 percent rise. Porsche also produced four LMP2 race cars.
Looking at the current 2007 / 2008 fiscal year, Porsche is confident it will match the records set in 2006 / 2007, despite sustained discount wars by its competitors in key markets.
Factors in the Group’s success in 2007 / 2008 will include the extension of its sales network in new markets and the expansion of the product range to include the 911 GT2 and the Cayenne GTS. Porsche doesn’t anticipate another major step in growth, however, until the market launch of the four-door, four-seat Gran Turismo Panamera in 2009.
As announced by Porsche, the Group’s progress until then shall be marked by consolidation on a high level.