According to the company's announcement on Wednesday

operating profit increased to €1.84 billion ($2.03 billion) and revenue increased to €10.1 billion in the first quarter.

Mercedes-Benz AG, and BMW AG have shown to be less vulnerable to waning customer demand

 globally and rising prices. Still, the industry is being affected by economic uncertainty.

According to Chief Financial Officer Lutz Meschke

Porsche aims to raise pricing for new models in the U.S. and Europe by 4% to 8%

The business anticipates its electric car base costs to be 10% to 15% higher than