Porsche AG reported a 15% year-on-year drop in global vehicle deliveries in the first quarter, battered by a deepening slump in China, model transition headwinds, and softening demand for electric vehicles in the US, the German automaker disclosed Friday.
The luxury sports-car manufacturer pinpointed China as the primary drag on performance, stating: “The decline was primarily shaped by the persistently challenging market environment in China and Porsche’s focus on valueoriented sales.”
Deliveries in China plunged roughly 20% to just 7,519 units between January and March, pushing Germany ahead of China as Porsche’s larger individual market. The figures represent a staggering 73% collapse from the company’s post-pandemic peak recorded in the third quarter of 2022.
Additional pressure came from the phaseout of combustion-engine variants of the entry-level 718 sports car, as well as an unfavorable comparison against the high-profile launch of the Macan electric SUV a year earlier.
North America retained its position as Porsche’s largest regional market, with 18,344 vehicles delivered in the quarter, though the figure represented an 11% annual decline — partly attributable to a strong comparison base tied to last year’s all-electric Macan rollout. US sales were further weighed down by the expiration of electric-vehicle purchase incentives.
Not all markets disappointed. Germany bucked the global trend with a 4% sales increase, while worldwide deliveries of Porsche’s iconic 911 flagship rose, buoyed by robust appetite for higher-margin Turbo and GTS variants.
