Porsche AG (ETR:P911) said the prices raise for its supercars will go up another gear later this year as it published first-quarter results in line with expectations.
Quarterly revenues grew 25.5% to €10.1bn, which it said was due to a 29% increase in vehicle sales to 84,737 and increased average prices.
The Porsche Macan was the best-selling series, followed by the Cayenne, while an increase in sales of its more expensive Panamera helped boost profit margins.
Operating profit for the quarter rose to €1.84bn from €1.47bn, though its underlying profit margin fell to 24.4% from 25.7%.
The company said it will raise prices by 4-8% in Europe and the US in the second half. It said this was to combat commodity costs that remain high and "in the face of ongoing supply shortage and wage developments". It admitted that the costs of energy and several other commodities were lower than a year ago, though.
Full-year guidance was confirmed for €40-42bn revenues, 25-27% operating profit margin and 10-12% automotive free cash flow margin.
Analysts at UBS said results were "solid...but not a beat, which might have been expected by some after strong luxury peer results".