Porsche is experiencing a decrease in vehicle sales.
Porsche has seen a downturn in sales of sports and off-road vehicles during the initial nine months of the year, partly due to the deteriorating business situation in China. Globally, they managed to deliver 226,026 vehicles from January to September, as per their announcement from Stuttgart. This represents a decrease of approximately 7% compared to the prior year. The rollout of various model updates also played a role in the sales decline.
The decrease in vehicle deliveries to China amounted to 29% compared to the previous year, primarily due to the persistent economic unease in the country. Exports to North America also saw a decrease of 5% compared to the previous year, although the decline was less severe than initially anticipated, as early-year trade-related delays affected deliveries.
The sales dip was, to some extent, anticipated. Porsche is devoted to revamping its lineup this year. New versions of the electric sports car Taycan, the Panamera, and the fully electric compact SUV Macan are now available. The iconic 911 is also getting a facelift, and the new Cayenne will launch in 2023. The process of transitioning between model ranges is intricate and has resulted in gaps in supply in certain markets and model ranges, they pointed out.
Sales chief Detlev von Platen stated that customer demand remains strong. Feedback on the new models has been positive. "As product availability increases, we look forward to the end of the year 2024 with optimism," he added.
In Germany, vehicle deliveries increased by 8%. In the remainder of Europe, the company, which is primarily owned by the Volkswagen Group, sold around 1% more cars. In overseas and emerging markets, including Africa, Latin America, Australia, Japan, or Korea, the growth was 3%.
Other markets also experienced a decrease in Porsche vehicle deliveries. Despite the challenges in supply, customer interest in the new models, such as the Taycan, Panamera, and Macan, remains robust.
