Porsche reports on sales for first half of 2020

After a challenging first half of 2020, Porsche AG achieved a return on sales of 9.9%. The sales revenue of $20.14 billion is 7.3% down on the previous year, meanwhile the return on sales of $1.99 billion fell by 26.3% compared to 2019.

The good performance compared to the competition is based on an extensive programme to improve the break-even point as well as the successful new Porsche products.

The Cayenne was the most popular model with a total of 39,245 deliveries

Deliveries in the first six months of 2020 fell globally by 12.4% in total to 116,964 vehicles. Despite Porsche Centres remaining closed for several weeks, 4,480 units of the Taycan were delivered. The iconic 911 also achieved growth of 2.2%, with 16,919 deliveries. The Cayenne was the most popular model with a total of 39,245 deliveries, while 34,430 units of the Macan were handed over to customers.

China remained the largest single market by volume for the sports car manufacturer in the first half of 2020 with 39,603 deliveries. 32,312 cars were supplied to European customers. In the U.S.A, Porsche delivered 24,186 cars between January and June.

“The coronavirus crisis has also not left Porsche unscathed. In Europe and the U.S.A, we suffered a significant downturn in the first half of 2020. In China and other Asian markets like Korea and Japan, things have already been running well again for some weeks,” says Lutz Meschke, Deputy Chairman and Member of the Executive Board responsible for Finance and IT at Porsche AG.

It is still too soon to make a forecast for the rest of the year. “We are optimistic that we will be able to offset some of the losses from March, April and May. Of course, this will only be possible if there are no more setbacks due to coronavirus,” says Meschke.

With the 911 Turbo and the Taycan, Porsche receives a boost with new products to cope through the crisis

In 2020, the year of the pandemic, Porsche is abandoning its strategic target of a 15% return on sales, but will try their best to achieve a double-digit return on sales.

Porsche is pursuing its ambitious sustainability objectives more forcefully than ever before – with an integrated approach across economic, environmental and social dimensions.

“At Porsche, commercial success and social responsibility go hand in hand. It is particularly important to us during the coronavirus crisis to play an active role in society and to take on responsibility. Helping others is an integral part of the Porsche culture,” says Oliver Blume, Chairman of the Executive Board at Porsche AG.

That is why Porsche has considerably expanded its social activities at its national and international sites. The ‘Porsche helps’ programme supports public crisis task forces, aid organisations, hospitals, and people in need through various initiatives.

Source link

The post Porsche reports on sales for first half of 2020 appeared first on TinySG.

from TinySG https://tinysg.com/porsche-reports-on-sales-for-first-half-of-2020/?utm_source=rss&utm_medium=rss&utm_campaign=porsche-reports-on-sales-for-first-half-of-2020