New Cayenne SUV Behind North American Sales Growth
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| Porsche sales are up 47% in April due to Cayenne SUV. (Photo: Porsche Cars North America) |
Prospects are continuing to look rosy for Porsche. While most European automaker's stocks are loosing ground the German sports car and SUV manufacturer hit a 2 ½ month high on Friday's closing. Strong North American sales have a lot to do with the company's current success.
While the legendary marque has seen recent declining sales for its sports cars in Europe its U.S. and Canadian sales were up 47% in April due to its Cayenne sport utility.
While some European automakers, such as Saab, Volvo and Land Rover, increased revenues Porsche experienced the highest percentage of U.S. sales growth in April, higher actually than any other auto manufacturer.