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Last Updated: Friday, 27 January 2006, 11:36 GMT
Turbocharged Porsche sees growth
Porsche's new Cayman S on show at the Brussels Motor Show
New models are likely to drive growth this year
Porsche, the German sportscar manufacturer, has reported healthy growth in sales and said it remains upbeat about prospects for 2006.

It sold an estimated 41,750 cars in the six months to the end of January, 17% up on the equivalent period in 2004/5.

The buoyant sales figures boosted profits, which rose an estimated 11% to 274m euros ($334m; 188m).

Porsche said it expected new models such as the Cayenne Turbo and the Cayman S to be the engine of growth.

On track

Porsche's turnover rose 15% to 3.25bn euros in the first half of the year as sales of its established 911 and Boxster series both grew strongly.

Porsche is continuing on the road to success
Dr Wendelin Wiedeking, Porsche president

The firm expects sales for the current year to comfortably exceed 90,000 units, compared to about 88,000 sold last year.

"Porsche is continuing on the road to success," Dr Wendelin Wiedeking, president and chief executive officer, said.

Porsche is investing heavily in the creation of a new four-door coupe, the Panamera, due to go on sale in 2009.

Despite setting aside 1bn euros for its development, Porsche expects profits to remain healthy.

"In spite of the costs associated with the development of the Panamera, earnings will again reach a high level," Dr Wiedeking stressed.

Sales buzz

One industry expert said he expected Porsche to build on a strong sales performance in the US last year, where it sold nearly 32,000 units.

Stephen Reitman, an automotive analyst with Merrill Lynch, said there was a "buzz" about Porsche's new Cayman model launched in the US earlier this month.

"US customer demand has been so strong that we believe that Porsche will revise upwards its global full year sales target for 2006," he said.

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