2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
While Germany is sometimes too expensive for other manufacturers as an automobile location, Porsche benefits greatly from “Made in Germany”. And even under the VW umbrella, things are running like never before.
The car manufacturer Porsche continues to favor Germany as an automotive location. "We want to maintain our 'Engineered and produced in Germany' asset," said CFO Lutz Meschke of the "Börsen-Zeitung". This is a valuable sales argument abroad and ensures higher prices for the company.
In China, the Volkswagen subsidiary is investing primarily in the dealer network. The number is expected to rise from a good 50 to around 100 over the next three years. "We continue to expect healthy growth, even if not above-average growth rates as in previous years," said Meschke about the economic outlook in China.
Debt free until 2016
Porsche will invest a total of 1.3 billion euros this year. "In the next five years it will be more than 1 billion euros per year," Meschke told the newspaper. Thanks to the high growth in sales, Porsche is able to finance this volume itself. At the same time, the debt should be completely reduced by 2016. The integration into the VW Group, which was completed a year ago, is having a positive effect on fundraising. Refinancing costs had already been reduced significantly last year. (dpa / AG))
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