Porsche sales up 16% in July on Germany, China

Reuters (Frankfurt) - German sports-car maker Porsche AG sold 12,391 vehicles in July, 16 percent more than a year earlier on demand in Germany and China.

"We are confident that we will see solid growth around the world during the course of the year, despite the economic uncertainty in Europe," Porsche AG board member Bernhard Maier said in a statement on Tuesday.

July sales in Germany were up 31 percent at 1,694 cars and China sales were up 18 percent at 2,936. In the United States, Porsche sold only 1 percent more cars in July, or 2,803 vehicles.

In the January-July period, vehicle sales were up 14 percent at 81,562.

Porsche AG, which has just been bought by Volkswagen , said last month it expects to increase its profit this year as record vehicle sales help offset high costs for model launches and factory extensions.