Porsche Reports Record Revenue in 2019
We already knew that Porsche increased vehicle deliveries by 10 percent in 2019, so it comes as no surprise that Porsche has now also declared record revenues for the year.
The German luxury automaker says that sales revenue rose 11 percent to €28.5 billion, with an operating profit going up 3 percent year-over-year to €4.4 billion, before special items. It enjoyed a 15.4 percent operating return on sales, though that’s slightly down from 2018, which was at 16.6 percent.
Porsche experienced the most growth in Germany and Europe overall, at 15 percent, followed by the United States and China at 8 percent. The American continent, as well as Asia-Pacific, Africa, and the Middle East were last, but those grew 7 percent nonetheless. In other words, there doesn’t seem to be anywhere in the world where Porsche is getting less popular.
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The company’s workforce also grew by 10 percent to 35,429 employees, with 2,000 new jobs created in Zuffenhausen to support the production of the new Taycan electric sports car alone. Porsche says that 30,000 prospective buyers paid a €2,500 deposit to express their interest in the Taycan before it premiered in September 2019.
The new sports car is part of a massive €10 billion investment in vehicle electrification and digitization. Porsche plans for 50 percent or more of its entire product range to be sold as fully or partially electric by 2025, many of which will use the 800-volt system developed for the Taycan. Already, 60 percent of the Panamera models the company sells in Europe are electrified.
In past years, Porsche has rewarded its employees after experiencing a record fiscal year. In 2019, the bonuses were announced in March and rolled out in April. If the automaker does the same in 2020 despite the COVID-19 pandemic, it will cement itself as one of the best car companies not just to buy from, but also to work for.
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Kurt Verlin was born in France and lives in the United States. Throughout his life he was always told French was the language of romance, but it was English he fell in love with. He likes cats, music, cars, 30 Rock, Formula 1, and pretending to be a race car driver in simulators; but most of all, he just likes to write about it all. See more articles by Kurt.