why are sales falling worldwide?

Porsche has become the most profitable brand in the world. But 2024 is a tough start in terms of sales. However, in recent years, we have become accustomed to seeing high-end brands regularly report an increase in their sales. Porsche is one of them. But not in the first quarter of 2024.

Porsche sales down

In fact, the output from the German brand has decreased. They have fallen heavily in certain areas of the world. In the first three months of the year, Porsche delivered around 77,640 cars worldwide. This is a decrease of 4% compared to the first quarter of 2023. This is mainly explained by a significant decrease in exports to North America and China. Actually, shipments to the US fell 23% to just 15,087 units in 2024, compared to 19,651 last year. Exports to China decreased by 24%.
So they go from 21,365 units in 2023 to just 16,340 units. Porsche believes the decline in the Chinese market is due to the difficult economic situation and an unusually strong first quarter of 2023. Remember that last year, the Stuttgart company benefited from the positive impact of the Covid-19 pandemic. In North America, the decline was primarily attributed to customs-related delays. Indeed, many Porsches were stuck in port and never delivered.

Stronger models than others?

The German manufacturer experienced a resumption of deliveries in certain markets. In Germany, they jumped 37%, from 8,247 copies sold to 11,274. Sales also increased across Europe. We are talking about a 9% increase. Export and emerging markets also saw their sales increase by 14%, reaching 14,895 units. In the last quarter, the Porsche Cayenne established itself as the best seller of the brand.
Some 28,025 models of Porsche’s large SUV found buyers, an increase of 20% compared to the same period in 2023. In contrast, Macan sales fell 14% to just 20,576 units. But that’s because of an exceptionally strong first quarter last year. And above all, the imminent arrival of the new 100% electric Macan. However, in North America, the heated model will remain in the catalog for a few more years… Along with its electric counterpart.

The Porsche 911 is still going strong

The demand for the best models of all Porsche models is still growing. In fact, 911 sales jumped 17%. The Stuttgart sports car sold 12,892 copies in the first quarter of 2024. The sale of Panamera and Taycan fell by 28% and 54% respectively. Usually, both types have been changed recently, but they are not sold very much. So the decline is almost logical. Let’s also remember that the 911 is about to become a hybrid.
As evidenced by the many test cars seen on the Nürburgring. maybe other customers, afraid of being forced to pass the “electric file”, rushed to the hot 911s. However, there is no concern on this topic, Porsche announced a while ago that its legendary sports car would keep the famous Flat-6 for a long time. The better, the sooner The German company announced that it will keep its V8 in the lineup for a little longer. Although this will likely only be available for plug-in hybrid versions.