Porsche is getting crushed in China as deliveries slip again
Unit shipments have almost halved in China since 2022.
Porsche just announced delivery figures for the first half of the year and, like a lot of other European luxury car companies recently, stalling sales in China remain a big issue for the German brand.
While the company was eager to highlight the success of EV offerings like its bestselling model, the Macan — Porsche delivered 45,137 Macans from January to June, almost 60% of which were fully electric — overall shipments slumped 6% from the first half of 2024, with deliveries to China sinking 28% in the same period.
The worst part for investors? The company doesn’t seem confident that it’ll find the right gear anytime soon: Matthias Becker, a Porsche executive board member for sales and marketing, said they “expect the environment to remain challenging” heading into the latter portion of the year.
Though deliveries rose during the period in Porsche’s operations across North America and its “Overseas and Emerging Markets,” where a record 30,158 Porsche cars were delivered in the first half, headwinds in its homeland of Germany, other parts of Europe, and (of course) China all weighed heavy on the company’s sales figures.
Famous for its iconic premium sports cars, such as the 911, Porsche has struggled to define itself in an increasingly competitive Chinese market. With EV brands like BYD and Xiaomi offering high-tech saloons and sports cars at a fraction of the price of premium German manufacturers, Porsche isn’t the only brand being left in the dust — BMW, Mercedes, Tesla, and others are all struggling to keep up.
