German sports car maker Porsche has posted record full-year revenues thanks to booming sales in China. Revenues increased 17.9 percent to almost 7.8 billion euros.
There was strong demand outside its traditional core market of Europe and North America.
In Europe the company’s sales rose just 1.4 percent and were down 3.5 percent in its home market Germany. In North America they were up 4.6 percent.
Of the almost 82,000 vehicles Porsche sold in the year through to the end of July, 11,724 were shipped to China where sales were up 47.5 percent.
Worldwide carmakers have been focusing on business in lucrative, fast-growing regions such as China to offset the shakier outlook in traditional markets, as government austerity measures kick in.
Porsche, which is in the process of being taken over by Volkswagen, will announce its annual profits in three weeks time.