Boom economy? At Porsche, that’s today’s rich reality

You’ve watched Wall Street and the NASDAQ go zooming out of sight. Some people will have you believe this country’s in the best economic shape in history, wildly ballooning federal deficit spending notwithstanding. But at vaunted Porsche AG, fabled for building some highly desirable and very costly vehicles, it’s Fat City. The Stuttgart stalwart just announced that its financial performance for the first six months of 2019 exceeded last year’s numbers over the same time period by an average of 9 percent.

I think that at some juncture, historians will come to agree that Porsche, once exclusively about sports cars, hit the SUV wave at exactly the right point. The 9 percent increase reflects sales revenue, and that figure was headed by increases in Cayenne sales, with close to 42,000 of them delivered in the first half of this year. The most popular Porsche vehicle today remains the Macan compact SUV, with more than 47,000 sold. So Porsche hasn’t been just about the 911 for a long time now. The company expects the rest of 2019 to be equally robust, aided by new vehicles such as the 718 Spyder and 718 Cayman GT4. Incidentally, Porsche sales in China jumped by 28 percent over last year. The corresponding figure for the United States was 3 percent.

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