Porsche’s working revenue jumped 41 % to five.05 billion euros ($5 billion) within the first 9 months from the identical interval final 12 months partly as a consequence of exchange-rate results and wholesome gross sales of its iconic 911 mannequin, the sports-car maker stated in a press launch.

Porsche’s deliveries within the first three quarters rose 2 % to 221,512 automobiles, with gross sales of the combustion-engine 911 — its most worthwhile mannequin — leaping 9 %.

The corporate didn’t increase its full-year steering, suggesting the present quarter could also be tougher.

“On this unstable and tough market atmosphere we’re demonstrating our potential to function profitably, specifically by means of value self-discipline and a beautiful product combine,” Chief Monetary Officer Lutz Meschke stated in a press release.

Automakers have been bracing for surging inflation and rising enter prices to weigh on gross sales however demand has been comparatively resilient up to now, particularly for premium automobiles.

Mercedes-Benz this week stated it expects sturdy shipments of top-end fashions to assist defend it from a worsening world financial system.

Nonetheless, Volkswagen Group missed revenue expectations on Friday after battling supply-chain issues, and Ford this week trimmed its revenue forecast due to shortages and better funds to suppliers.

Porsche declined as a lot as 3.8 % in Frankfurt. The corporate launched its IPO late final month in Europe’s largest itemizing in a decade.

“Given the tiny free float, any destructive motion out there might be exaggerated for Porsche,” stated Michael Dean, an analyst at Bloomberg Intelligence.

Porsche turned Europe’s most beneficial automaker earlier this month when its market capitalization overtook that of VW per week after the preliminary public providing in Frankfurt.

The corporate is effectively forward of friends together with Ferrari and Aston Martin in the case of electrifying its lineup.

The Taycan EV outsold the 911 final 12 months and Porsche is making ready to introduce a full-electric model of its Macan mannequin, with first deliveries anticipated in 2024.