Porsche is rolling in dough.Thanks to booming SUV sales, Porsche has reported record profits for the 2016 fiscal year.Last year Porsche delivered about 238,000 vehicles worldwide, netting an operating profit of about $4.1 billion. Put another way, Porsche is pocketing about $17,226 on every vehicle it sells.
That per vehicle profit is quite the feat in today's auto market. According to Bloomberg, luxury car makers Mercedes-Benz and BMW only make about $5,000 per vehicle. Exotic car makers like Ferrari can profit around $90,000 per vehicle, but their volume is limited to about 8,000 cars per year.
Although historically a sports car company, Porsche can thank the rise of the sport utility vehicle for its juicy profits. The Cayenne and Macan accounted for nearly 70 percent of Porsche's global sales in 2016. And while the Macan starts from under $50,000, hardly any customers are opting for the base spec. Most buyers are loading on the options, as indicate by Porsche's average revenue of $99,000 per vehicle.
Porsche will soon unveil an all-new version of its Cayenne, so don't expect the Porsche profit machine to slow down any time soon.