Porsche sets long-term margin target at 15%

BERLIN, Oct 7 (Reuters) - Porsche is aiming for a group operating return on sales of 15% in the long term, the German sports car maker and Volkswagen subsidiary said on Wednesday, as it presents a turnaround strategy to compensate for lower sales with profit-boosting luxury.

In the medium term, the company is aiming for an operating margin in the range of 10 to 15%, it said in a statement.

(Reporting by Rachel More, editing by Thomas Seythal)