Porsche Motors On Through 2020

Sat 1st Aug 2020

The global pandemic has failed to put the skids on German motoring manufacturer Porsche after the company posted a £1.1billion profit for the first six months of the year.

In a week when car makers across the world have posted record losses, including the likes of Volkswagen, JLR, Renault and Nissan, Porsche has managed to go above the COVID-19 downturn and post a profit.

Though it goes without saying that sales were down for the first half of 2020, the company still managed to ship 116,964 cars in a stunning performance against the odds. Sales were down by just 12.4 per cent on previous years, but a healthy £1.1 billion profit will go in the books.

Porsche actually sold more 911s in the pandemic period than they did in the first six months of last year, but it was the strong sales of the company’s SUVs, the Cayenne and Macan which has kept them above water.

Speaking in a statement, the Porsche Finance representative, Lutz Meschke said: “The coronavirus crisis has also not left Porsche unscathed. In Europe and the USA, 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.

“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. But we are making every effort to also achieve a double-digit return on sales in 2020.”