By Ilka Kopplin
Porsche AG (PAH3.XE) will reach its annual deliveries target of
200,000 vehicles much earlier than expected, Chief Executive
Matthias Mueller said Thursday.
The German sports car maker, a subsidiary of Volkswagen AG
(VOW.XE), will likely reach its target in 2016, or even 2015,
instead of 2018 as previously planned, Mr. Mueller told journalists
in Stuttgart, adding that China will become its biggest future
market.
This year, Porsche estimates it will shift 150,000 cars. From
January to August, deliveries rose 15% on year to around 107,000
vehicles. August deliveries increased 5% on the year with 11,500
cars on the tarmac.
Mr. Mueller said that despite difficult market conditions, the
company managed to grow in all regions.
The company plans to invest 1 billion euros ($1.3 billion) in
its production plants until 2018, having already injected EUR1.5
billion since 2010.
A decision on a new model series will be made next year, Mr.
Mueller said, adding "we have a number of ideas," which will have
to be evaluated in the coming months.
The company confirmed its 2013 guidance for operating profit.
"The target stays the same. If we reach an operating profit at the
same level as last year, we're satisfied," Mr. Mueller said.
Porsche's operating profit last year notched EUR2.44
billion.
Write to Ilka Kopplin at ilka.kopplin@dowjones.com
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