German sports car maker Porsche reports record sales despite gloomy economy

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BERLIN - German sports car maker Porsche AG says it has already broken last year's record sales number with one month left in 2012.

The company, which is now owned by Volkswagen, said Wednesday it delivered 128,978 vehicles through November, more than the total of 118,868 it sold in all of 2011 — at the time a new record.

Though many automakers are struggling with increased competition in the low-end car market, the luxury market remains strong.

Porsche, based in Stuttgart, says worldwide sales for the first 11 months were up 38.7 per cent over the same period in 2011. In Europe, where several countries are mired in recession, sales were up a modest 6.8 per cent but Porsche saw spectacular 71.4 per cent growth in the U.S. and 63.4 per cent growth in China.

Organizations: Porsche AG, Volkswagen

Geographic location: BERLIN, Stuttgart, Europe U.S. China

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