(MENAFN) Luxury automaker Porsche, part of Germany’s Volkswagen Group, reported a 6% decline in global sales during the first nine months of the year, as demand weakened significantly in both China and Europe, the company revealed in a statement on Thursday.

Worldwide deliveries by the premium brand fell to 212,509 vehicles from January through September. China, a key market for Porsche, saw an especially sharp slump, with deliveries plunging 26% to just 32,195 units in the same period.

The company attributed the downturn to “challenging market conditions, especially in the luxury segment, as well as the rising competition from China.” The Chinese market accounts for approximately 15% of Porsche’s global sales but has been hit hard by ongoing tariff tensions between the European Union and China.

Conversely, sales in North America showed resilience, rising 5% to 64,446 vehicles, while Germany—the brand’s home market—experienced a steep 16% decline to 22,492 units. Across Europe, excluding Germany, sales also dipped 4%, totaling 50,286 units.

In light of these pressures, Porsche, which relies entirely on exports, lowered its sales forecast for the year last month, citing “weak demand, competitive pressure in China, and US tariffs.”

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