Porsche Q1 Deliveries Drop 15 Percent

(MENAFN) Porsche AG reported a 15% year-on-year decline in global vehicle deliveries during the first quarter, according to a statement released on Friday. The downturn was attributed to a notable slowdown in China, ongoing model transition phases, and softer demand for electrified vehicles in the United States.

The company identified China as the primary source of the decline. "The decline was primarily shaped by the persistently challenging market environment in China and Porsche’s focus on value-oriented sales," it said. Deliveries in China fell by roughly 20% to 7,519 units between January and March, pushing Germany ahead of China as Porsche’s larger market. Sales in the Chinese market have now dropped about 73% from their post-pandemic high recorded in the third quarter of 2022.

Additional pressure on overall performance came from the discontinuation of combustion-engine variants of the entry-level 718 sports car, along with a difficult comparison against the prior year’s launch period of the Macan electric SUV. These factors combined to weigh on the company’s total delivery figures.

In North America, Porsche remained strongest regionally, recording 18,344 vehicle deliveries in the first quarter. However, this still reflected an 11% year-on-year decrease, largely due to an unusually strong baseline created by the ramp-up of the all-electric Macan in the previous year.

In the United States specifically, first-quarter sales also moved lower. The company linked this decline to the high comparison base from last year’s strong Macan EV rollout period, as well as the conclusion of electric-vehicle purchase incentives, which had previously supported demand.

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