Porsche said 2016 was its most lucrative in its 86-year history. It increased vehicle production to 237,778 with revenue up to $24.2 billion.
“This was thanks to our employees, who enabled us to expand our attractive model range to include an array of new and exciting sports cars, such as the 911 Turbo and 911 R, the 718 Boxster and 718 Cayman as well as the Panamera,” Oliver Blume, chairman of the executive board of Porsche AG, said in a news release. “The expertise and passion of our staff forms the basis of a successful future for Porsche.”
The bonus was negotiated by the company's Works Council, which are created to allow employees to be part key decision making processes, according to the European Trade Union Institute.
"In the end, no one in our large VW family received anywhere near as large a bonus as our employees at Porsche," Uwe Hück, chair of Porsche's Group Works Council, said in the news release. "We had to walk a very fine line during the negotiations. The result was this extraordinary and one-off, but completely justified, bonus."
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