independent

Monday 21 April 2014

Porsche outpaces recession to post record sales

Workers assemble cars at the Porsche factory in Leipzig, Germany

ALTHOUGH the wheels have come off the global economy, not everyone has put the brakes on their spending.

Luxury carmaker Porsche has already zoomed past its own record for the most cars sold in a year.

A whopping 128,978 of the flash, high-speed vehicles from the German company were sold worldwide in the 11 months to the end of November – already beating the 118,868 sports cars bought in the whole of last year.

Last month alone was up 39pc on November last year.

But the sales surge is confined largely within the world's two largest economies – the United States and China.

There's little appetite in recession-battered Europe where sales grew a modest 6.8pc.

By contrast, sales rose strongest in the US and China, with increases of 71.4pc and 63.4pc respectively.

Though many automakers are struggling with increased competition in the low-end car market, the luxury market remains strong.

Porsche, based in Stuttgart, says worldwide sales for the first 11 months were up 38.7pc over the same period in 2011.

Earlier this week it emerged that BMW had widened its lead in luxury car sales last month.

BMW, Audi and Mercedes are all targeting record sales this year, while mass-market competitors in Europe are bracing for the lowest sales in the region in 17 years.

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