Automotive industry - Porsche sells fewer cars in the first half of the year
Porsche delivered fewer sports and off-road vehicles in the first half of the year due to weak sales in China. A total of 155,945 vehicles were delivered worldwide, according to the Stuttgart automaker. This was 6.8 percent less than in the same period last year. The renewal of several models also contributed to the decreased sales figures.
According to the information provided, there was a third fewer vehicle deliveries to China in the first six months compared to the previous year. The main reason for this was the continued economic uncertainty in the country. Porsche also exported six percent fewer vehicles to North America in the first half of the year than in the first half of 2023. However, the decline was lower than at the beginning of the year, when customs-related delays delayed deliveries.
New models present challenges
The sales decline was partly expected: In this year, Porsche is bringing new versions of the Panamera and the electric sports car Taycan, as well as the fully electric compact SUV Macan, and the updated classic 911 to market. The new Cayenne had already been launched in 2023. The transitions between model series were described as complex and led to supply gaps in individual markets and model series.
Sales growth in Europe
According to the information, the number of vehicles delivered in Germany increased by 22 percent. The company, which is mainly part of the Volkswagen Group, sold around six percent more cars in the rest of Europe. In overseas and growth markets - which include Africa, Latin America, Australia, Japan, or South Korea - the decline was two percent.
The 911 sports car was particularly popular. Porsche delivered around eight percent more of this model. Sales of the best-selling model, the Cayenne, increased by around 16 percent. There were significant decreases in sales for Macan, Panamera, and Taycan.
- Despite the decrease in global deliveries, Porsche continues to expand its presence in China, being one of its key markets in the automotive industry.
- Baden-Württemberg, where Porsche is based, saw an increase in vehicle deliveries, contributing positively to the overall sales figures in Germany.
- The new Cayenne, launched in 2023, is an off-road vehicle that has been a significant contributor to Porsche's quarterly figures in the automotive industry, seeing an increase in sales.
- The renewal of several models, including the Panamera and the electric sports car Taycan, as well as the fully electric compact SUV Macan and the updated classical 911, has presented challenges in vehicle construction, leading to supply gaps.
- The automotive industry in Europe has shown resilience, with Porsche reporting sales growth in Germany and other European countries, offsetting the decreases in North America and some overseas markets.
- The 911, a popular sports car, remains a top seller for Porsche in the automotive industry, contributing to the positive sales figures in Europe.
- Despite the challenges in the first half of the year, Porsche remains committed to its innovation and expansion in the automotive industry, with upcoming models like the fully electric compact SUV Macan and the updated classic 911.
