Porsche confirmed that it will impose “significant price increases” on its models when it releases the new model year vehicles in the middle of 2023 in a bid to keep its profit margins as high as 20 percent in the long term, as part of its Road-to-20 strategy.
The announcement was made by Porsche’s finance head Lutz Meschke during a call with analysts to reassure them that the German luxury brand can sustain and build on the strong operating profits it gained in 2022, which reached a massive $7.27 billion (6.8 billion Euros), with an 18 percent return.
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