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Porsche sells more than 88,000 vehiclesTurnover and revenue have increased again in fiscal year 2004/05

Stuttgart. Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, set new sales and turnover records during the past fiscal year 2004/05 (July 31). Speaking during the run-up to the International Motor Show (IAA) in Frankfurt, Porsche CEO Dr. Wendelin Wiedeking declared: “Our profit has also risen for the eleventh year in succession - thanks to our consistent growth policy and ongoing efficiency increases. Details of earnings can only be issued after the figures have been approved by the Supervisory Board in November.”

According to provisional figures, Porsche Group turnover rose by 6.8 percent to approximately 6.56 billion Euros (corresponding figure for the previous year: 6.15 billion Euros). 2004/05 is the first fiscal year in which Porsche Group accounts have been prepared in accordance with International Accounting Standards. Compared with the accounting procedures in accordance with the German Commercial Code, this had the effect of reducing turnover during the past fiscal year and, due to retrospective adjustment the preceding fiscal year as well. One of the main reasons for this is that in the case of specific leasing transactions, only earnings from interest and not the entire leasing charges are included in turnover.

Group sales increased by 15 percent to a total of 88,379 vehicles (previous year: 76,827 vehicles). This increase is due primarily to the extremely successful market launch of the new 911 and Boxster model generations. 27,826 cars in the 911 model line were sold, an increase of 17.4 percent compared with the previous year (23,704 cars).

Total sales of the Boxster model line were 18.009 units, an increase of 38.7 percent (previous year: 12,988 cars). Sales of the Cayenne, which has now been on the market for three years, rose again. 41,884 units of this sport utility vehicle were sold, a sales increase of 4.9 percent over the previous year’s figure of 39,913 units. Sales of the high-performance Carrera GT sports car went up strongly, with 660 units sold compared with 222 in the previous year.

Production totalled 90,954 vehicles, and thus went up by 11.6 percent over the previous year (81,531 units). A total of 28,619 units in the 911 model line were built, an increase of 7.4 percent. The corresponding figure for the previous year was 26,650 units. Output of the Boxster model line rose to 20,321 units, compared with 13,462 units the year before (51 percent more). Of this figure, 15,892 cars were built in Finland (previous year: 8,862). A total of 41,299 Cayennes and 715 Carrera GT high-performance sports cars were built at the Leipzig plant.

Despite imponderabilities in the global economic situation, Porsche is confident about the current 2005/06 fiscal year. There is strong demand for all three model lines. From October on, four new all-wheel-drive variants of the 911 Carrera will reach the market, continuing the generation change in the 911 model line. Developed on the basis of the Boxster, the Cayman S, a two-seater mid-engined coupe, will follow in November. With this new model, Porsche not only fills the existing gap between the Boxster S and the 911 Carrera coupe, but will also achieve a lasting degree of expansion of its customer base in the classic sports car segment. In view of the extended breadth and appeal of its product program, the company anticipates renewed growth in the current fiscal year.

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9/13/2005