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Business

Porsche Set for Another Record Year

A statement from German sports car maker Porsche AG, the world's most profitable car maker, said on Tuesday that it should sell between 70,000 and 75,000 vehicles globally in the current fiscal year, up about 7.7 per cent to 15.4 per cent from 65,000 in the previous year. The statement added that Porsche was also confident of racking up another record profit for the previous fiscal year, which ended on July 31. Although riding high on strong sales for its new Cayenne sport utility vehicle, Porsche's initial forecast for this fiscal year was above the 75,000 sale mark. Even so, impressive sales in the United States, where the company sells almost half of its cars, have contributed to an estimated sales figure marginally less than first thought.