Business

Porsche sales: no slowing down

The automaker remains unfazed by recession fears

No slowing down

Michael Probst/AP

Famed luxury automaker Porsche AG has set its sights high for the coming year: based on the demand it foresees for updated versions of its much-loved 911 (base models cost $80,000) and Boxster models, it plans to sell a record 140,000 cars in 2012, up from 120,000 cars this year, according to a Bloomberg report citing an unnamed source. Porsche also hopes to double its sales by 2018.

That’s a tall order, given a teetering global economy and Europe’s debt crisis. But Porsche hasn’t had much trouble selling cars lately. Demand for its Cayenne SUV ($48,000) has been strong: there’s a 12-month waiting list in some markets, and Porsche plans to boost its production by as much as 20 per cent. Even while major automakers struggle, luxury sales have been a surprising bright spot through the recession, and Porsche is counting on it staying that way.