Written by Cláudio Afonso | LinkedIn | X
Porsche reported a 3% decline in global sales for 2024, with total deliveries amounting to 310,718 vehicles, the company said on Monday. Sales in Germany rose 11% to 35,858 units, offsetting some of the impact of a sharp 28% drop in China, where sales fell to 56,887 vehicles from 79,283 in 2023.
The German carmaker stated that China’s sales decline “is mainly due to the continuing challenging economic situation in this region” guaranteeing that it will stick “to its value-based sales approach.”
Sales in Europe, excluding Germany, rose 8% to 75,899 vehicles, while Germany itself saw an 11% increase to 35,858 units. North American sales were flat, rising marginally by 1% to 86,541 vehicles. Deliveries in overseas and emerging markets also grew, up 6% to 55,533 units.
In 2024, Porsche increased its deliveries of the Macan SUV model to 82,795 units (up 5% year over year) while the luxurious sedan Taycan sold just 20,836 units, dropping by 49% from 2023.
As recently reported by the Shanghai-based outlet Yicai, the company plans to lay off 30% of its workforce in China, including both regular employees and outsourced staff.
Late last year, Porsche China President and CEO Alexander Pollich said the company would reduce the number of dealerships in China to address weakening customer demand and lower sales.
“With declining customer demand and reduced sales, optimizing the dealership network has become necessary. We want to ensure our partners stay profitable in the local market,” Pollich said.
In the third quarter of last year, operating profits fell by 41% to €974 million for the July-to-September quarter. Revenue also decreased to €9.1 billion from €9.7 billion, although Porsche kept its full-year financial outlook after lowering it in July.
Written by Cláudio Afonso | LinkedIn | X
