The car manufacturer Porsche sold slightly more sports and off-road vehicles last year. 320,221 vehicles were delivered worldwide in the past twelve months. That was 3.3 percent more than in 2022, as the DAX group announced on Friday in Stuttgart.
Sales therefore grew in almost all regions of the world – although they collapsed in the most important car market, China. 79,283 cars were delivered there. This corresponds to a minus of around 15 percent. Porsche said the decline was primarily due to the challenging economic situation in the region. This year, the car manufacturer is expecting stable sales overall, as sales manager Detlev von Platen announced.
Porsche preferred shares fell by 1.5 percent to 76.16 euros in a friendly market in the morning and have now reached a record low. The stock has been trading below the issue price of 82.50 euros for the IPO in September 2022 for some time. Since mid-2023, when the share was trading at its highs of over 120 euros, a downward trend has set in, with experts also worried about China -Explain the car manufacturer’s business.
Last year, Porsche’s development in the People’s Republic was weaker than that of other German premium and luxury car manufacturers. BMW recorded an increase of a good four percent with the BMW and Mini brands in China. The VW subsidiary Audi achieved an increase of a good 13 percent after a weak previous year. Only Mercedes-Benz also struggled and sold two percent fewer cars.
Porsche 911 and Taycan particularly popular – challenging year 2024
In Germany, the number of vehicles delivered by Porsche grew by a good tenth in 2023. In the rest of Europe, the company, which is majority owned by the Volkswagen Group, sold around 12 percent more cars. In North America the sales increase was 9 percent, in overseas and growth markets – which include Africa, Latin America, Australia, Japan and Korea – 23 percent.
The classic 911 sports car was particularly popular in 2023. Porsche sold around 24 percent more of this model. The fully electric Taycan, whose sales had recently weakened, also sold better: the number of vehicles delivered rose by 17 percent to 40,629 cars. Sales of the Macan compact SUV, however, stalled. Around 8 percent less of the Cayenne model, the model with the highest deliveries, was sold last year.
Platen’s head of sales expects 2024 to be a challenging year – especially in view of the market conditions in China. “We are preparing ourselves for the future and updating four of six series,” he said. This is more product launches than ever before in one year. This makes it all the more important to balance the sales structure and further strengthen the Southeast Asian markets. Overall, Porsche is aiming for a stable sales level in 2024.