Porsche grows jobs and profits in first quarter of 2018

Porsche’s North American headquarters sits beside Hartsfield-Jackson International Airport. Porsche is a luxury car brand that is recognized around the world. CHRIS QUINN/AJC
Porsche’s North American headquarters sits beside Hartsfield-Jackson International Airport. Porsche is a luxury car brand that is recognized around the world. CHRIS QUINN/AJC

Porsche added over 2,000 jobs to its global workforce by the end of March as the company announced high profit margins in its first quarter results.

The sports car manufacturergrew its worldwide workforce by 7 percent to over 30,000 workers, according to a statement released Friday. The company also increased its workforce in Atlanta, home of the company's North American headquarters, by 2.9 percent.

The company’s revenue in the reporting period increased to $7.3 billion, while profit margins rose 16.4 percent.

“This successful quarter creates a solid basis for the coming months,” said Lutz Meschke, the Deputy Chairman of the Executive board at Porsche AG.

Porsche hopes the launch of it’s first electric car, Mission E, later this year will further boost sales to reach its set target of 15 percent profitability by the close of the year.

“For us, it is not a question of breaking one record after another. We want to generate value-creating growth-with healthy secure profits and jobs,” said Oliver Blume, Chairman of the Executive Board of Porsche AG.

Consumerreports.org ranked Porsche 13th among the country’s top cars with the Macan voted the make’s most reliable model.

Porsche Cars North America imports and distributes Porsche cars to 189 authorized dealers in the U.S.

Summary of Q1 results

Porsche manufactured 63,500 vehicles worldwide in the first quarter of 2018

Company revenue in the quarter rose by eight percent

Current workforce comprises 30,335 employees up from 28,249 in 2018

The company is based in Stuttgart, Germany

The North America headquarters for Porsche is in Atlanta.

SOURCE: Porsche

Consumerreports.org ranked Porsche 13th best overall car brand in the country with the Macan the most reliable model