Porsche Global Model Sales : 2023/24 (Q1 - Q3)

Deliveries were down 7% after nine months of 2024. Difficult conditions in China and poor electric car sales weighed deliveries down. 

Models: The Cayenne was up 21% which is good for the company as it would be a profitable model. It was also good for sports cars, with the 911 and 718 models increasing. 

The Macan and Panamera were both down 20% but nothing like the electric Taycan which halved its sales. The electric revolution seems to increasingly lack spark. Porche acknowledged this problem and their timeframe in transitioning to BEVs has been put back. 

Data & pictures Porsche.

Region: Europe and the Rest are the regions in positive territory, up 4 and 3%. Germany was up 8% with the rest of Europe up 1%. North America was down slightly but China was the big disappointment with sales down by 29%.  

Takeaways: The drive to electric cars has hit a speed bump and car brands promising to go 100% BEV hopefully have an exit strategy on that. Some ICE vehicles in the range will be required unless taking a hit on volume isn't a worry. E-Fuels is also an option Porsche is pursuing strongly.

China was the goose that laid the golden egg but any manufacturer that put too many eggs in that basket will have to be careful how they proceed from here. With China's economy weakening and local consumers being wooed by local brands, it will be interesting to see where it will lead.