Skip navigation
Newswire

UPDATE 1-Porsche's Cayenne boosts 10-month sales, revenues

(Adds details, earnings guidance, background, share)

FRANKFURT, June 30 (Reuters) - German luxury car maker Porsche saw a strong rise in both vehicle sales and revenues for the first ten months of its business year, boosted by its successful Cayenne offroader, it said on Wednesday.

Revenues in the period climbed 14 percent to 5.06 billion euros ($6.16 billion) and earnings grew, Porsche said. It declined to specify the rise in profits or provide a comparison figure.

The company, which will relaunch its core 911 model in most of Europe on July 17, reaffirmed its guidance on Wednesday of higher revenues, pre-tax and net profits on sales of about 75,000 vehicles in the full year, which ends in July.

Sales of its 911, Boxster and Cayenne models increased 18.2 percent to 61,496 vehicles in the first 10 months, while production rose by only 14.9 percent to 66,454 units.

Deliveries of its 911 sports car fell by 19.9 percent to 18,986 vehicles, while Boxster sales dropped 34.3 percent to 10,490 units of its entry-level roadster.

Demand for its Cayenne offroader surged to 31,896 vehicles from 12,343 in the previous year's period. Porsche added it sold 124 Carrera GT's, its super-sports car.

The car maker posted pre-tax profits of 933 million euros and revenues of 5.58 billion in the last fiscal year, while delivering 66,803 vehicles to customers.

Porsche reported earlier this year that it earned 211.3 million euros in the first half of 2003/04, a rise of 13.8 percent compared to the year previously.

Shares in the company rose 0.8 percent to 560.75 euros at 0840 GMT.