Posche's revenue races to €17.2 billion in 2014

Porsche’s revenue during 2014 stood at a record €17.2 billion in 2014, the fabled sportscar maker announced during its annual press conference in Stuttgart on Friday.

This represents a 20% rise in 2013 figures - almost 7 times of what its parent company Volkswagen Group managed during the same time period. Likewise, operating profits of the company also increased to €2.7 billion in the previous calendar year.

The sales figure also saw a double-digit year-on-year increase with 189,849 units sold over the course of 12 months. To meet the increased demand, 2,9456 employees were recruited, taking the total workforce to over 22,000 people.

Porsche’s CEO Matthias Muller attributed the gains to its new crossover Macan: "Porsche has developed very successfully and is now better positioned than ever. A crucial cornerstone for this success is the Macan. Until the end of the year, we had delivered our new five-door sports car nearly 45,000 times."

The company is confident of another strong year in the highly competitive luxury automobile market.