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Porsche posts 14.7 per cent revenue rise

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Luxury automaker Porsche AG said Wednesday that revenue rose almost 15 per cent in the first four months of the year on strong vehicle sales.

The Stuttgart-based automaker said revenues increased 14.7 per cent on the previous year to 2.36 billion euros (US$3.51 billion), as vehicle sales rose 18.4 per cent to 30,700 units overall.

The North American market saw sales increase 13.7 per cent to 10,750 vehicles.

The company's fiscal year begins Aug. 1, and the four-month figures were estimated to the end of November.

The Cayenne sport utility vehicle posted the best increase in the period, with sales rising 76 per cent to 13,400 vehicles. Sales of the classic 911, by comparison, were up only 3 per cent to 10,800 vehicles.

Sales of the Boxter, meanwhile, fell by around 17 per cent to 6,500 vehicles.

Porsche said it expects its vehicle sales in the fiscal 2008 to be around the level of the previous year, when it sold 97,515 vehicles.

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Porsche posts 14.7 per cent revenue rise
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