Porsche Sales Weak Through Q3 2024

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Porsche AG today posted sales declines for the first nine months of the year. Overall global sales at 226,026 dropped -7%. China sales at 43,280 plunged -29%. “This reflects poor economy in the Chinese market” that is affecting all makers. Worse, there is now an outright trade war over tariffs between the EU and China. North American sales at 61,471 dropped -5%. In Europe (excluding Germany), Porsche delivered 52,465 vehicles in the first nine months, an increase of 1% compared to the same period last year. In the home market of Germany, the number of vehicles delivered rose by 8 % as 26,838 units were delivered to customers.

“Customer demand remains at a robust level and the feedback from our customers on the new models is very good. As product availability increases, we are optimistic about the final spurt for 2024,” claimed Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG.

Porsche Highlights and Lowlights

• The Cayenne is recording growth.
• The two-door sports cars are also up on the previous year. A total of 226,026 vehicles were handed over to customers worldwide between January and September. This corresponds to a moderate decrease of 7 percent compared to the previous year, primarily due to limited product availability.
• With the Panamera, Macan, Taycan and 911, four out of six model series are currently in the run-out and ramp-up phase.
• The 911 sports car at 39,744 units delivered worldwide (+2 percent).
• The Panamera went to 21,506 customers (-20 percent). This decline can be explained by the market situation in China as well as the current model change. The latter also applies to the Taycan. Between January and September, 14,042 customers took delivery of their Taycan (-50%).
• The 718 Boxster and 718 Cayman models recorded 18,048 deliveries, which corresponds to growth of 10 percent.

“2024 is a particularly challenging year for us with limited product availability in some cases. However, we are deliberately focusing on a quality-oriented ramp-up in our new model series so that we can continue to offer our customers an unmistakable brand and product experience in the future,” said von Platen.