After last year’s record sales results, the first half of 2023 brought better numbers that also continued in the third quarter. According to the Porsche AG report, the company recorded a 12.6 percent increase in sales revenue in the nine months of 2023.
“Across all model lines, our vehicles are in high demand worldwide. At the same time, exclusivity and individualization of our products are steadily increasing,” explains Oliver Blume, Chairman of the Executive Board at Porsche AG.
Despite the large investments and other expenses that the company had this year, when it celebrates its 75th anniversary, Porsche is heavily preparing for the premiere of four new models next year. This did not significantly affect the operating profit of the company, which increased by 9.0 percent, but the operating return on sales was lower by 0.6 percent (18.3 percent) compared to the same period in 2022 (18.9 percent).
“We benefit from a robust positioning in key global regions. We have seen above-average growth in Europe, North America as well as in the ‘Overseas and Emerging Markets’ region. Our business model is based on our unique positioning in the automotive industry. Unlike niche luxury manufacturers, we benefit from scaling effects within Porsche and cost advantages due to the cooperation with Volkswagen Group,” said Blume.
In the first nine months of 2023, Porsche delivered 242,722 vehicles, which is an increase of 9.6 percent compared to the same period last year. The electric Porsche Taycan was delivered to 27,885 customers, which is 11 percent more than in 2022. “We continue to benefit from high demand and positive product mix and price effects. We have always clearly exceeded this goal – despite difficult circumstances in the supply chain and sales regions, where development in terms of e-mobility can vary significantly,” he said Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT.
Porsche has high expectations in 2024 as well, when sales revenue is expected to be in the range of 40 to 42 billion euros.