100,000th Cayenne Rolls off Production Line; Capacity Utilization Still at MaximumPorsche Celebrates Production Landmark At Leipzig Plant
ATLANTA, June 7, 2005 – Dr. Ing. h.c. F. Porsche AG, Stuttgart, today celebrates a production milestone a little earlier than expected: The 100,000th Cayenne, a Turbo model finished in "Prosecco" metallic paint, rolled off the production line at Porsche's Leipzig plant. "You are proving that we can build excellent automobiles in Germany at competitive prices that people want all over the world," said Michael Macht, Production and Logistics Director for Porsche AG, speaking to the 400 employees in the Leipzig plant. "No one in the industry believed that we could achieve this level of success." The Leipzig plant opened in August 2002. Porsche originally estimated unit sales of 25,000 vehicles annually. However, since its launch in December 2002, demand for the Cayenne has exceeded expectations. In the 2003/2004 fiscal year, Porsche sold nearly 40,000 vehicles worldwide. Porsche will reach the same volume in the current financial year. "We are operating at maximum capacity. And demand is showing no sign of slowing down," said Macht. North America is still the key market for the Cayenne, where Porsche sells approximately 40 percent of the luxury sport utility vehicles. Porsche Cars North America sold 17,457 Porsche Cayennes in fiscal year 2003/2004 and is on track to finish the current fiscal year, which concludes July 31, at the same level. Thanks to the Cayenne, Porsche is also recording its highest growth rates - at times running to triple digits - in China, Russia, Latin America and Southeast Asia, as well as countries in the Middle East. Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., and its subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers of Porsche sports cars and Cayenne sport utility vehicles for the United States and Canada. A wholly owned, indirect subsidiary of Dr. Ing. h.c. F. Porsche AG, PCNA employs approximately 300 people who provide Porsche vehicles, parts, service, marketing and training for its 206 U.S. and Canadian dealers. They, in turn, provide Porsche owners with best-in-class service.
Report of 06/09/2005