Porsche is often confused for a company that makes sports cars. It’s not. Porsche makes money.
The German automaker has released its latest round of financial data, with staggering new records. In 2011 sales were up dramatically to 116,978 units, an increase of 21 percent. With that came an increased in revenue, up 18 percent to 10.9 billion Euros, or roughly $14.32 billion. With it, profits also spiked, by 22 percent to 2.05 billion Euros, or $2.69 billion.
That’s a lot of dry math, but it does also reveal one shockingly interesting statistic. Some simple division reveals that Porsche returns a profit on each vehicle it sells of 17,524.66 Euros, or roughly $23,000 based on today’s conversion rates. That’s more profit, per car, than a lot of automakers sell an entire car for.
Perhaps customers should be appalled by this info, but they don’t seem to be, with continued strong demand, resulting in record profit says Porsche Chief Executive Matthias Müller. “Once again we are setting standards in the sports car segment with our brand new model range; our international customers appreciate this,” he said in a statement, “Last year, the strong demand enabled us to further consolidate our position as one of the most profitable car manufacturers in the world.”
Growth in 2011 came as a result of increased demand in a few key markets, says Porsche. In particular, growth regions included China, Russia, the US and at home in Germany.
Helping boost sales in 2011 was the all-new 911, and sales should spike further with a new Boxster and Cayman set to launch in 2012. In addition, Porsche is looking to expand its lineup further with the new Macan small SUV set to launch in 2014 as the automaker targets total sales of 200,000 units by 2018.
Not one to hoard all the wealth (at least not all of it), Porsche’s financials statement also says the automaker, “is an excellent employer and a fair and reliable partner for all stakeholders,” commenting that with increases revenues and sales, the Porsche workforce has also increased by 16 percent over the past year.