Porsche fired up by Cayenne

PORSCHE, a symbol of excess during the 1980s and 1990s, has revived sales by 47% to e1.9bn (£1.3bn) in the first four months of its financial year between August and November.

Although it is still producing its iconic 911, Carrera and Boxster sports cars that helped make it the world's most profitable car company, it is its new school-run vehicle, the Cayenne, that has pushed up sales.

Described by some motoring correspondents as an over-engineered, eight-cylinder, £100,000 sports utility 'monster', the Cayenne has achieved success as a second car with European and US families. The four-wheel-drive vehicle is the first non-sports car in Porsche's 54-year history.

The Stuttgart-based group said today that it expected 'a high level of earnings' this year.

The sports car maker last month delivered a ninth consecutive year of record earnings although finance chief Holger Haeter refused to make predictions for the current financial year.

He restricted himself to saying he would be happy if Porsche achieved flat profits in the current year.