Analyst recommends Porsche stock as new 911, Boxter target record sales
Porsche AG will have its new 911 model for sale in December of 2011. The Stuttgart-based car maker will have its revamped version of Boxter available in the first half of 2012, a person with knowledge of the matter told BusinessWeek. These improvement, according to the same source, will enable Porsche to increase its car sales to record 140,000 units in 2013.
So far this year the company has sold 120,000 cars this year. In 2010 Porsche has sold 97,000 units. 25,320 units were sold in USA in 2010. The main markets for Porsche USA are California and New York Washingdon D.C. region.
“The goal seems ambitious given the current economic framework but it’s achievable,” said Daniel Schwarz, a Frankfurt-based Commerzbank AG analyst to BusinessWeek and recommends buying the stock. “Porsche is performing very solidly in key markets. A lot depends on how the new 911 will fare and how quickly they’ll bring derivatives to market.”
Last month Porsche showed strong record, increasing its U.S. September sales by 10 percent compared to the same period of last year. It will allow the company to sell well over 100,000 cars this year. According to Moteur Mature last month in China 2,146 consumers bought a Porsche and they all have paid in cash.
The company has grown sales in the United States in September in all of its models except Panamera. Last year in September Porsche sold 624 Panamera models in USA. This year its only 514. However, this year in September the company sold 222 Boxter and Cayman models, 504 units of 911 and 930 Porsche Cayenne units.