Porsche sales are falling, here's why

"Even the rich cry" is an expression that reminds us that even those who live in comfort can face hard times.

In the automotive field these days, this is the case with Porsche.

The company that built its reputation on sports cars flourished with an expansion into SUVs and luxury sedans.

But times are changing.

Over the past 15 years, the brand has successfully entered new segments and introduced new models and engines that were unimaginable a few decades ago.

Thanks to quality, performance and good marketing, Porsche almost tripled its global sales between 2009 and 2023.

This remarkable achievement allowed Porsche to confidently explore the electric car segment, Telegrafi reports.

The Porsche Taycan is one of the best-selling electric luxury cars today and a good example of how electrification doesn't necessarily hurt a brand's image.

However, new problems are emerging.

Declining demand for EVs

Last year, Porsche set a new annual sales record of 320,200 units worldwide after 16 consecutive years of growth.

However, that seems to be coming to an end.

The latest data released shows global shipments between January and September were 226,000 units, a drop of nearly 7% compared to the same period in 2023.

According to the Porsche report, the main reason for the decline is lower demand in China, which fell by 29%:
In terms of models, two clear problem areas are plaguing the company.

First, the Porsche Taycan is suffering sharp declines in a market where demand is no longer growing, at least in Europe and the US.

The Taycan is also facing growing competition in China.

To make matters worse, the Taycan was unveiled at the 2019 Frankfurt Motor Show, meaning the old model has been on the market for five years.

Macan case

The other, more worrying trend involves Maca.

With the arrival of the second generation – available only as an EV – the Porsche model is trying to beat the sales results of its combustion engine predecessor.

Porsche has eliminated the first-generation Macan from several key markets to focus only on the new one, such as Germany, France, the Netherlands, Spain and Austria.

The new Macan costs an average of 22% more than the previous generation.

The increase is mainly due to the change of powertrain from combustion to electric.

The situation is exacerbated by the growing fear of electric vehicles in Europe.

And the new Macan has yet to be introduced everywhere, so the model change is also hurting sales.

In short, the numbers show that Porsche is no longer growing primarily because of its electric models.

Could this trend also affect other luxury brands pushing for a larger EV lineup? /Telegraph/