Agency Report –
German luxury carmaker Porsche on Thursday reported another drop in sales as deliveries to China plunged.
The Stuttgart-based manufacturer sold 212,500 vehicles over the first nine months of the year, around 6% fewer than in the same period of 2024.
Just 32,200 cars were sold in China, a 26% fall year-on-year, amid challenging market conditions and intense competition from local rivals.
Chief executive Oliver Blume has warned that the market for luxury products in China has collapsed.
Sales figures also showed a downward trend in Germany and the rest of Europe, although the picture in North America was more positive for Porsche, with 64,400 sales reported.
The results may have been influenced by customers racing to purchase vehicles before US tariffs came into force.
The car manufacturer also recorded an increase in overseas markets such as Africa, Latin America, Australia, Japan and Korea.
According to chief sales officer Matthias Becker, Porsche’s deliveries have remained robust in the current year.
“The level is in line with our expectations, especially in view of the ongoing geopolitical and economic conditions,” he said.
The manager also expects the market environment to remain challenging in future.
With recent product decisions, the company is responding “to the different customer needs worldwide and the delayed ramp-up of electromobility.”
Around 23% of vehicles sold over the first three quarters of the year were purely electric.
