Due to factors such as delivery delays due to North American regulatory requirements and the Chinese market, Porsche's global deliveries fell 4% in the first quarter of this year, and the Chinese market fell 24%.

Delivery to the Chinese and North American markets both fell by more than 20% year on year

On April 10, the official website of Porsche, a luxury brand owned by German Volkswagen, showed thatPorsche delivered 77,640 vehicles worldwide in the first quarter of 2024, down 4% year on year.

Mr. Detlev von Platen, an important member of the Porsche Sales and Marketing Executive Committee, said that this change was mainly affected by North American regulatory requirements, causing delays in the delivery of some vehicles, while conditions in the Chinese market also had an impact on overall delivery data.

Among them,Porsche delivered 16,340 vehicles from January to March in the Chinese market, down 24% year on year; the North American market delivered 1,5087 vehicles, down 23% year on year.

The domestic market Germany has highlighted strong demand. In the first quarter of this year,Porsche delivered 1,1274 vehicles in the German market, an increase of 37% year over year; In the European market (excluding Germany), 2,044 vehicles were delivered, an increase of 9% over the previous year; in overseas and emerging markets, Porsche delivered a total of 14,895 vehicles, an increase of 14% over the previous year.

Porsche's global sales distribution, from the official website

By model, the Porsche Cayenne (Cayenne) performed particularly well, with 2,8025 units sold, up 20% year over year, making it the model with the highest number of deliveries in the first quarter. Porsche Macan has delivered 20,576 vehicles, a year-on-year decrease of 14%. Porsche's iconic 911 sports car sold 12,892 units worldwide, up 17% year over year. Porsche Panamera was delivered to 6,139 customers during the quarter, down 28% year over year. The first quarter of the Taycan electric sports car delivered 4,236 units, a year-on-year decrease of 54%. A total of 5,772 Porsche 718 Boxster and 718 Cayman models were delivered, an increase of 20%.

Delivery declined, and prices rose against the trend without changing the nature of arrogance

At a time when most manufacturers in the Chinese automobile market are struggling with price competition, Porsche chose to buck the trend and increase prices.

According to Porsche's official website, some 2024 Porsche Panamela models launched in November last year were increased by 7 to 100,000 yuan. After the price adjustment, the price was 1,138,000 to 1,298 million yuan (the original price was 1,038,000 to 1,228,000 yuan).

The pre-sale price of the new Porsche Taycan, which was released last month, was 100.8 to 1.98 million yuan, an increase of 30,000 to 50,000 yuan compared to current models. The higher-end Turbo GT series models are 180,000 yuan more expensive than the current top models.

Porsche Global Executive Chairman Oliver Blume (Oliver Blume) acknowledged that Porsche is facing challenges in the Chinese market, but has no intention of joining China's fierce price war. In his view, maintaining Porsche's unique brand value is more important than sales volume, and its sales growth in other overseas markets will make up for short-term fluctuations in the Chinese market.

This year was the year when Porsche launched the most new products, including the Macan EV, the new Taycan, and the third-generation Panamera and the Porsche 911 with plug-in hybrid models.

Porsche believes that the new product portfolio launched this year will help sales in China return to the growth track. Max, vice chairman of Porsche's global executive board, said that from the second half of 2024 to the first half of 2025, sales in the Chinese market will recover, and there is still great potential for growth; in particular, in the fuel vehicle sector, Porsche still has a huge fan base and brand strength.