When you think of iconic sports cars, Porsche is up there with the Ferraris and Lamborghinis of the world, but you might not really appreciate just how popular the German automaker really is.
After struggling to stay afloat during the 90s, Porsche transformed itself into a multi-billion dollar company providing a range of different vehicles to a varied customer base. It’s this wide range – including luxury sports cars, sedans and four-wheel drives – and the continued evolution of the company’s business practices that saw it become not only a leader in automobile manufacturing but achieve record-breaking sales, with over 246,000 Porsches sold in 2017 alone.
Record sales mean record profits, and according to a study by CBNC Porsche made more than US$4.82 billion in profit before taxes in 2017, equating to an astonishing US$153 a second.
Breaking this sum down further finds Porsche’s profits equals about US$9,176 every minute, nearly US$550,595 every hour, more than US$13.2 million every day and nearly US$92.8 million every week. Total revenue for Porsche during 2017 was more than US$26.85 billion, roughly US$73.3 million per day.
Not bad for a company that almost went bankrupt a few decades ago.