While comparing Porsche to General Motors is beyond a stretch, we couldn't help but think about last week's UAW strike against the General while reading about Porsche giving away $7,350 in bonuses to over 8,000 full-time employees. Must be nice to be part of a profitable automaker – even if it's from sales of the Cayenne.
The automaker hailing from Stuttgart sold 97,515 cars during its fiscal year, ending on July 31. Those sales rose over the same period by 3.4-percent, bringing total income to $10.5 billion for the year. When the accountants finally get done doing the math, it's expected that Porsche will make a pretax profit that's considerably more than the approximately $3 billion it made last year. Good news for everyone involved, and it's certainly nice to see an automaker passing along the profits to its workers.