Porsche Profits Once Driven By Hedge Fund Trading, Not Cars

Leading up to 2008, Porsche wasn’t really a car company and its then CEO, Wendelin Wiedeking, was getting rich off a profit incentive that many hedge fund managers live and die from. As the financial crisis approached, Porsche reported earnings of $11.5 billion, which observers noted was an odd achievement. Putting this in mathematical and historical perspective, in fact, it was shocking. Prosche’s profit from per car sold With that type of profit, Prosche made an amazing $136,000 gross profit per car sold. After selling a record 98,652 cars during the year, this was a stunning profit margin on cars that…