Porsche is crushing it in sales and sports cars have nothing to do with it
Company executives reported today that revenue and profits both surged 25% to $24 billion and $3.8 billion respectively.
At the same time, unit sales jumped 19% last year to 225,000 cars worldwide.
Thus, the company hit its goal to sell 200,000 cars globally three years ahead of schedule.
At the presentation of the financial results, Porsche CEO Oliver Blume called the company's performance "extraordinary even by Porsche standards."
Although Porsche is best known for its iconic sports cars, the company's financial and sales performance has largely been driven by the success of its crossover SUVs.
Worldwide, the Cayenne and Macan accounted for 68% of all Porsche sales. With 80,000 units delivered, the Macan outsold the 911, Boxster, Cayman, 918 and Panamera combined.
Porsche's single largest market was China with more than 58,000 cars sold while the United States came in a close second with nearly 52,000 in sales.
Although Porsche is a member of the VW Group family of brands, it has remained largely unaffected by its parent company's massive emissions cheating scandal. Porsche sales continued to surge even after news of the scandal broke in September.
For 2016, Porsche CFO Lutz Meschke expects the revenue and profit to grow, but cautioned investors against overly optimistic expectations.
"The Mission E is a great step toward the future of our brand," Meschke said in a statement, "At first, these expenditures will not be offset by any income from vehicle sales, because the Mission E will not arrive on the market until the end of the decade."
The high performance battery-powered Mission E production car will be based on the concept of the same name that debuted with great fanfare at the 2015 Frankfurt Motor Show last September.
