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Porsche (P911.DE) said today that a total of 212,509 cars were delivered to customers worldwide between January and September, of which 35.2% were electrified (+12.8 percentage points). Porsche (P911.DE) said today that a total of 212,509 cars were delivered to customers worldwide between January and September, of which 35.2% were electrified (+12.8 percentage points). However, in China the world’s largest market, Porsche has lost its once gleaming image and lucrative sales results. In China, 32,195 cars were delivered to customers (-26%.) The primary Porsche excuses for this decline “remain the challenging market conditions, particularly in the luxury segment, and the intense competition in the Chinese market.” The gleam is also fading elsewhere for Porsche. Will losses follow?
“Porsche continues to maintain robust delivery figures this year. The level is in line with our expectations, especially considering the ongoing geopolitical and economic conditions,“ claimed Matthias Becker, Member of the Executive Board for Sales and Marketing at Porsche AG. “In the coming months, our customers can look forward to many exceptional product offerings. We recently unveiled the new 911 Turbo S at the IAA, the range-topping version of our iconic sports car. This strengthens our brand core. Demand for the new flagship is very strong, and the car has received a lot of praise from the media and prospective customers.” Continue reading →
Stellantis to Invest $13 Billion in U.S. Plants
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Stellantis (NYSE: STLA) late yesterday announced plans to invest $13 billion during the next four years to increase its sales in the critical United States market and to expand its domestic manufacturing footprint. Part of this are required updates to aging vehicles to stay competitive and defend market share and adhere to the UAW contract. Some was previously planned and announced for other vehicles – notably EVs but is now being redirected to internal combustion engine products because of the relaxation of environmental rules and the elimination of EV buying incentives, and CAFE fines or fees on vehicles that inordinately pollute the air causing dire human health problems by the Environmental Pillage Agency, aka EPA, under the Trump – “Global warming is a Chinese hoax” administration or reign. (Read AutoInformed.com on: Environmental Pillage Agency attacks California)*
“This investment in the U.S. – the single largest in the Company’s history – will drive our growth, strengthen our manufacturing footprint and bring more American jobs to the states we call home,” said Antonio Filosa, Stellantis CEO and North America COO. “As we begin our next 100 years, we are putting the customer at the center of our strategy, expanding our vehicle offerings and giving them the freedom to choose the products they want and love.” (Investments detailed in this release are subject to the successful negotiation and final approval of development packages with appropriate state and local governments. In short, taxpayer subsidies. – AutoCrat) Continue reading →