Porsche sales decline globally in Q1 due to decreased purchases by American and Chinese consumers

Luxury and performance car makers, including Porsche, have faced challenges in key markets leading to a four per cent drop in Q1 sales globally. While the German brand performed well in Europe, its sales plummeted in North America and China, raising concerns for the future.

Porsche delivered 77,640 vehicles worldwide in the first quarter of 2024. Despite a strong performance in Europe, sales in North America fell by 23 per cent to 15,087 units, and in China by 24 per cent to 21,365 units, prompting worries for the company’s outlook.

Customs-related delays affected Porsche’s deliveries in North America, while in China, economic challenges and a shift towards value-oriented sales strategies contributed to the decline in sales. These factors have had a notable impact on Porsche’s performance in two of the largest car markets in the world.

In contrast, Porsche experienced a significant boost in sales in Germany, with a 37 per cent increase resulting in 11,274 units delivered. Across Europe, Porsche delivered a total of 14,895 units, indicating a more positive trend in the region.

The Porsche Cayenne emerged as the most sought-after model, with 28,025 units delivered globally. However, the sales of the Macan saw a 14 per cent decline to 20,576 units. The iconic Porsche 911 continued to perform well, with 12,892 units delivered in the first quarter of the year.