Porsche AG said it delivered 117,963 vehicles in the first six months of this year, up three per cent on the same period last year.

Operating profit rose 8 per cent to €1.8 billion ($2.01 billion) while sales increased by 1 per cent to €10.9 billion ($12.17 billion). 

“Enthusiastic customers, secure jobs and an attractive return on sales are more important to us than production volumes,” said Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board responsible for Finance and IT.

Chairman of the Executive Board Oliver Blume pointed out that, after years of rapid growth, Porsche is now aiming to achieve stability at the high level achieved. 

Porsche also said the new Panamera is expected to provide moderate growth. 

“This Porsche is a class in its own right,” said Blume. “It combines sporty driving dynamics with maximum travel comfort. It is powerful yet still efficient in terms of fuel consumption. And it links a high level of everyday utility with a fascinating design.”

Market launches of the new Panamera are due to start this November.

Meschke expects there will be a slight increase in deliveries and sales for the 2016. Despite the very large investments in production sites and development outlays such as the billions of euros going into the first purely battery-driven Porsche model, the Mission E, Meschke expects profits to match last year’s levels.