Porsche was the most profitable car company in Europe

Porsche was the most profitable car company in Europe

FineAuto

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.

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