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Porsche Automobil Holding SE (POAHF)

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53.64-1.25 (-2.28%)
At close: 03:59PM EDT
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  • The Telegraph

    Porsche boosted by ultra-rich demand for sports cars

    Porsche posted record sales in its first year as a listed company as the ultra-rich splashed out on its sports cars despite higher price tags.

  • Reuters

    Porsche AG cautiously upbeat on 2023 sales after bumper 2022

    WOLFSBURG, Germany (Reuters) -Porsche AG expects sales to rise to as much as 42 billion euros ($45 billion) in 2023 after the luxury carmaker sped to record earnings and revenue in its first year since its initial public offering, as it boosted car deliveries. Chief Financial Officer Lutz Meschke, however, warned that supply chain issues, geopolitical strains and rising inflation still presented a challenge for the industry. Porsche AG, historically a huge money spinner for the Volkswagen Group, which owns 75% minus one ordinary share of the group, is targeting a margin of 17-19% this year with a long-term goal of 20%, it said in a statement.