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Auto Sales · China Market · EV Demand · Porsche
Porsche AG's global vehicle deliveries plummeted 15% year-on-year in the first quarter, primarily due to a sharp slowdown in China, model changeovers, and softer demand for electrified vehicles in the United States, as stated by the German luxury carmaker.
The decline was mainly driven by a persistently challenging market environment in China, where deliveries dropped by approximately one-fifth to 7,519 units, making Germany Porsche's larger market. Chinese sales volumes are now 73% below their post-pandemic peak reached in the third quarter of 2022.
North America remained Porsche’s largest regional market with 18,344 vehicles, despite an 11% sales decrease attributed to a high comparison base from the Macan EV launch and the end of US electric-vehicle purchase incentives. Germany emerged as a bright spot, with sales increasing 4%, while global deliveries of the flagship 911 model rose, supported by demand for higher-margin Turbo and GTS variants.
Porsche also cited the phaseout of combustion-engine 718 sports cars and tough comparisons with the Macan electric SUV launch as contributing factors to the overall performance pressure.
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