While numerous auto manufacturers have had to tighten budgets due to the recession caused by the Covid-19 pandemic, Porsche seems to be flying high after posting a massive operating profit.
The financial figures that reflect the first half of this year show that the German automaker recorded a $2.1 billion operating profit and a sales revenue of $18 billion, which is just a 7.3 per cent drop.
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“The current situation has been challenging for our company. We are managing the coronavirus crisis responsibly and systematically, and at the same time see it as an opportunity”, said Chairman of the Executive Board, Oliver Blume.
“We have been given a boost by our attractive new products – from the 911 Turbo to the Taycan electric sports car, which was recently voted the world’s most innovative car. We stand for visions and set new standards. This pioneering spirit is what drives us. We will invest $26.5 billion over the next five years in new technologies alone”, Blume added.
In the first half of 2020, Porsche's overall sales drop by 12.4 per cent, to 116, 964. Unsurprisingly, the Cayenne SUV was the most popular model with 39,145 units, closely followed by the Macan with 34,430.
Interestingly, the 911 range was up 2.2 per cent with 16,919 coupes sold in six months. Also, 4,480 Taycans were ordered.
Just recently, a fellow German brand by the name of BMW reported handsome sales figures here in New Zealand for the first half of 2020.
Year-to-date, 712 new BMWs have been registered on Kiwi roads (159 in June alone). That's more registered vehicles locally than during the same six-month period in 2019. BMW Group New Zealand claims that the bulk of this surge has spawned from its electrified range — including new models of 3 Series, i cars, and the new Mini Countryman Hybrid. It's a trend that reflects what BMW has reported overseas.