Porsche is now one of the most profitable car manufacturers in the world and makes more than £14,000 in profit for every single car it sells, according to new figures.
In a statement released last week, the German company revealed that it had sold a total of 237,778 cars throughout 2016, increasing its operating profits by 14 per cent to nearly £3.4 billion.
That means that for every Porsche-badged car sold last year, the company raked in around £14,200 – a figure that’s roughly the price of the average Ford Fiesta.
Compared against rival German manufacturers like BMW and Mercedes-Benz, Porsche makes around twice as much profit on each car that it sells.
Supercar manufacturer Ferrari makes approximately £54,000 in profit for each car it sells, but that’s offset by the immense costs of its cars and its relatively low production volume – only 8,014 new Ferraris were sold last year.
Porsche claimed that 2016 was the most successful year it’s had in its 86-year history, setting new records for the number of cars it’s sold, the amount of revenue it’s made and the amount of people it employs.
Speaking at the company’s annual press conference in Stuttgart, Porsche’s CEO Oliver Blume said: “The successful annual financial statement attests to the quality of our strategy.
“Porsche represents value-creating growth. We're concentrating on delighted customers, solid returns and secure jobs.”
It marks an extraordinary change in fortunes for Porsche, who just a few decades ago was struggling to remain profitable at all, and it attributes most of its success to SUVs like the Cayenne and Macan.
Currently, the Macan is Porsche’s top-selling model with nearly 100,000 of them made last year alone and accounts for 40 per cent of all the manufacturer’s sales.
The figures show that Porsche also sold 70,867 Cayennes last year, almost as much as the number of 911s, Boxsters, Caymans and Panameras that it sold put together.
