The Profit Margins at Porsche Are Just Crazy, Here’s How Much the Brand Earns per Minute!
Let’s admit it; we all want the finer things in life. No wonder we yearn for the most expensive of purchases in terms of houses, jewelry, and cars.
Indeed, one of the companies that have benefited greatly from our chase of the finer things in life is Porsche.
Founded in 1948, this luxury company car has amassed more than 4.22 billion euros in profit prior to taxes in 2017. This is as per data released by the company’s annual report. This sums to roughly $4,82 billion as per the exchange rate.
So, if we were to calculate that in terms of seconds, it would mean that in 2017, the company was making a whopping $153 per second!
Additionally, this would mean that the company was making a staggering $9176 every minute and in just one week, $92.8 million.
Great Profit Margins
So when we analyze these number comprehensively, it means that after every six seconds that passed in 2017, Porsche made $917 prior to taxes.
Indeed, data from the Bureau Labor Statistics show that the company gets more profits that the median for weekly earnings in the United States which is at $887 a week.
In terms of revenue, it is crystal clear that Porsche has got itself together. The company made a whopping 23.49 billion euros in 2017, which translates to about $26.85 billion.
Just this September Saveley Head, a U.K. based car insurance company analyzed the financial data of 14 iconic brands, with Porsche being among them. Indeed, the company managed to clinch the 4th rank in terms of profit prior to taxes.
The 14 brands in question are as follows: Aston Martin, Ferrari, SEAT, Jaguar Land Rover, Skoda, Volkswagen, Bentley, Toyota, Subaru, Renault, Hyundai, Ford, and Mercedes-Benz.
Interestingly, the brand, which is a sub-set of Volkswagen, has cars ranging from the low end of $49,000 to over $300,00 as per data released by Car and Driver.
Indeed, it is clear to see why so many individuals are attracted to luxury cars as the likes of Porsche. Here are some of the benefits that individuals receive on a regular basis from these cars.
One of the major benefits of luxury cars is that they love to include features of emerging technologies to make them more desirable. Indeed, it is this advancement of technology that trickles down to non-luxury cars, as these companies aim to provide the same capabilities to their middle-class market in order to keep them interested in innovations.
Additionally, owning a luxury car exposes you to auto technology innovations early on, which might hit the market much later in time.
Comprehensive Assistance and Maintenance
Another benefit of having a luxury car means that you will be occasionally given luxury maintenance routines, which are all done for you behind the scenes.
Indeed, one of the things that these luxury car brands prioritize on is the maintenance of their cars.
In fact, some of them even have rules that they will not let their cars to be driven if the car in question falls the recommended performance and safety standards.
So you can trust that your car will always be in mint condition after every service routine.
Adherence to Safety
Normally, you will find that the design and shape of a luxury car might not be as safe as some of these regular models that one sees out on the street.
So to ensure that these cars include top-of-the-line safety precautions, these brands install some of the latest technological safety advancements in their vehicles to ensure that the driver’s safety is adhered to.
For instance, some features that come automatically installed in luxury vehicles can cost an upwards of $25,000 just to be installed in non-luxury vehicles.
Some of these amazing features include traction control, side-front airbags, anti-lock braking systems, a blind-spot warning feature, as well as standard stability control.
A Great Business Impression
Last but not least, owning a luxury car can play a crucial role when it comes to social dynamics.
That’s because it communicates an aura of success to your social circle. It can also be a great way to impress your clients especially if you are making the first meeting and you would like to show that you are a trusted individual when it comes to handling large sums of money.
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