Porsche had a great year in 2011. The German luxury car maker’s sales for the first half of 2011 increased by 36.8% as compared to the same period a year ago, with a total of 60,659 units sold from January throughout June 2011. To continue the impressive sales growth, Porsche is investing heavily in research and development and is reported to be spending more than 10% of its revenue in these areas.
To enhance its R&D, human talent will be essential. Hence, a major portion of the R&D budget will be spent on hiring more than 300 engineers in 2012 as part of an effort to increase the company's core staff by around 10%. Porsche also hired similar number of engineers in 2010 on top of replacing staff that left the company as part of standard turnover. Currently, about 3,500 employees work at Porsche's Weissach development center near Stuttgart.
Porsche, which expects global sales of more than 115,000 units in 2011 compared with 97,000 in 2010, aims to reach annual sales of 200,000 units by 2018. In 2012, Porsche will launch sales of the new Boxster and new 911 convertible, as well as the Panamera GTS. The new-generation Cayman, the new 918 Spyder and the Cajun compact SUV will follow in 2013.
Previously, Porsche mentioned that it will create around 1,000 new jobs a year as part of its current business strategy.
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