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The Asian Party is Over for Automakers
No doubt this hurts Asia-based automakers , but the VW Group, Daimler Group, BMW Group and General Motors – are clearly endangered, because the region accounts for a significant share of their global volume. Continue reading
Porsche Sales Tank in China. So-So Elsewhere
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 result. 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.
“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 →