Porsche to raise prices further as profits jump

Luxury carmaker Porsche (P911_p.DE) will raise prices by 4-8% in Europe and the U.S. in the second half to combat higher costs that weighed on returns in the first quarter, even as profits and revenue jumped by over 25%, it said on Wednesday. The company was still seeing issues with the supply of semiconductors and parts for the electric Taycan’s high voltage heating system, but expects them to ease in the coming months, Chief Financial Officer Lutz Meschke said on a call following first quarter results.