Porsche was the most profitable car company in Europe

For the first half of 2020, only three companies in the auto Europe has been able to demonstrate profit growth: PSA (France), Ferrari (Italy) and Porsche (Germany).

Thus, the French brand reported a profit of 517 million euros, with profitability amounted to only 3.7%. Ferrari company posted a profit of 243 million Euro with a margin of 16.2%, and Porsche could earn 1.23 billion euros, with a margin of 10%.

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The management of the German company was distressed that that are unable to achieve the previously planned rate of profitability of 15%.

For comparison, a number of other German brands in the first six months of this year recorded losses: the Mercedes suffered in the first half operating loss of 620 million euros, Audi – 640 million euros, BMW – 1.33 billion euros, Volkswagen (passenger cars) – 2.1 billion euros.