In the first half of 2011, the U.S. lost more jobs, unemployment continued to rise and gas approached near record pricing. Wall Street went from being optimistic about a recovery to shedding jobs at an alarming level, as even those in finance prepared to man the lifeboats. It’s bleak out there for those of us trying to scratch out a living, but one segment of the population appears to be completely unfazed. The rich, it appears, really do get richer, and Porsche sales are up 42 percent in the U.S. market.
Worldwide Porsche sales are up, too, fueled by high demand for the all-new Cayenne SUV. Cayenne sales are up by 37 percent worldwide, exceeding the factory’s ability to produce them. Porsche is taking steps to ramp up production, but that’s a gradual process, with output gains not expected to top 20 percent in 2012. In certain markets, like China, there’s a 12 month backlog of orders for the Cayenne, and Porsche is struggling to reduce this to a more manageable six-month backlog.
Even the love-it-or-hate-it Panamera is seeing substantial sales growth, and the latest projections show that global unit sales are up by 40 percent over last year. It just goes to show that there is money to be made in this economy – as a Porsche dealer.