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Porsche Sees Strong 2023 as 9-Month Profits Soar

Started by Epoch-Times-Bot, Oct 28, 2022, 11:30 PM

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Epoch-Times-Bot

Oct 28, 2022, 11:30 PM
Porsche Sees Strong 2023 as 9-Month Profits Soar

BERLIN—Porsche reported a 40.6 percent leap in operating profit to more than 5 billion euros ($5 billion) in the first nine months of 2022 and predicted a strong 2023 as its ability to raise prices protected it from the costs of supply chain snags.
Still, the carmaker did not raise its annual margin outlook from 17–18 percent even as it yielded a 17.8 percent profit margin in the third quarter, up from 15.5 percent last year.
Chief Financial Officer Lutz Meschke predicted a “strong 2023” and said he was unfazed by macroeconomic uncertainty, pointing to the luxury brand’s ability to pass on price hikes to its growing customer base of high net worth individuals....

Source: Porsche Sees Strong 2023 as 9-Month Profits Soar

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Aug 10, 2024, 06:38 AM
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