NEW YORK (MainStreet) This week at the New York International Auto Show, Porsche is flaunting its 918 Spyder, one of the fastest street-legal cars out there. But at $845,000, it's obviously not a consumer-oriented vehicle. Instead, according to Porsche North America CEO Detlev von Platen, it's a branding statement to prove that supercars are still relevant, even in an automotive world obsessed with fuel-efficiency.
Porsche makes up just 2% of parent company VW Group sales but some 22% of its operating profits. Porsche has been on a roll with with 21% growth in 2013 and similar growth in 2012. According to von Platen, most important to this momentum is "a really strong offensive in new products."
In the premium segment, Porsche is able to command an 18% return on sales, which allows the company cash-flow to fund that innovation.
"We want to make sure that we are able to invest on our own in our products," he said. "But to do this, and again Porsche is a small company -- 20,000 people, that's it -- we want to be able to invest with our own money in our own destiny."Part of that "destiny" entails maintaining a strong performance heritage to the 911 vehicles but also broadening the offerings like the Cayenne crossover or the Panamera, which started production in 2009.
The apotheosis of that marriage of technology and powertrain is the 918 Spyder, with 887 horsepower and 944 lb-ft of torque. It looks fast standing still and goes 0 to 60 mph in 2.8 seconds. But it can also run 18 miles on just an electric charge.
"In 2008, 2009, the whole world was talking about fuel economy, fuel standards," von Platen told MainStreet. "And a lot of people started to raise the question, 'Is there any future for sports cars? Why do we need sports cars.'"