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Porsche reports record sales for 2018 despite home market problems

January 15, 2019


Abstract : A boost in sales in China and the US helped German luxury carmaker Porsche overcome problems in Europe in 2018, but the company warned Thursday that it might still have a bumpy road ahead.

Porsche reports record sales for 2018 despite home market problems

A boost in sales in China and the US helped German luxury carmaker Porsche overcome problems in Europe in 2018, but the company warned Thursday that it might still have a bumpy road ahead.

Overall, sales went up by 4 percent year-on-year for the company, for a total of 256,255 cars sold.

Sales in China rose by 12 percent, with 80,108 cars sold, making it Porsche's largest customer country, despite an overall drop in vehicle sales in that country.

But sales dropped by 4 percent in Europe, which included a 3-percent drop in Germany. European car sales have been depressed in general as its car companies reel from revelations that some producers cheated on emissions testing. It has meant companies must overhaul their production lines and, in some cases, pay fines for cheating.

Porsche announced in September it would stop producing diesels, in response to the scandal.

"The switch to the new WLTP test cycle and gasoline particle filters in Europe mean that we faced significant challenges in the fourth quarter of 2018, and these will continue to be felt in the first half of 2019," said executive board member Detlev von Platen.

dpa

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