Porsche's sales are also sluggish, with a 7% year-on-year decline. Is the global economic downturn to blame?
LienOct 12, 2024, 11:16 AM
As everyone knows, Porsche's influence in the high-end luxury market is higher than that of Benz, BMW, and Audi, so in the absence of obvious competitors, Porsche's sales have always been stable and strong, but this situation has been reversed in the past year.
Recently, Porsche officially announced the global sales data for the first three quarters of 2024. According to statistics, Porsche's cumulative global delivery volume is 226,026 vehicles, a 7% decrease compared to the same period last year. This data reflects the challenging situation faced by the global auto market under multiple challenges.
As Porsche's largest single-sales market, fluctuations in the Chinese market have a huge impact on Porsche. In the first 9 months of this year, a total of 43,280 vehicles were delivered in China, accounting for only 19.15% of Porsche's global market share. This is the first time in five years that the ratio has fallen below 20%. It once reached 30% at its peak. Porsche stated that the continuously tense economic situation in the Chinese market and the company's value-oriented sales strategy are the main reasons for the decline in sales.
Looking at specific models, Porsche Cayenne still maintains a strong momentum, with cumulative delivery volume increasing by 21% year-on-year in the first 9 months, setting a record for the same period in history. However, the sales of models such as Macan, Panamera, and Taycan have declined. Among them, Macan sales fell by 20%. Porsche believes this is related to its model replacement. As for the deliveries of Panamera and Taycan, they fell by 20% and 50% respectively. Porsche stated that this is related to the situation in the Chinese market and the current model changes.
From a macro perspective, the global economic downturn has a significant impact on the sales of luxury cars. China, which is currently the world's second-largest economy, continues to underperform, with growth slowing to 4.7% in the second quarter, down from 5.3% in the first quarter, and below forecasts. The economic slowdown has affected the sales of the luxury car market, making it difficult for wealthy people to afford high-premium car products like Porsche. The poor performance in the Chinese market has affected the overall performance of the Porsche brand.
Facing the global sales decline, Porsche said it will focus on improving the quality of its new car series in order to continue to provide customers with a unique brand and product experience in the future. At the same time, Porsche is also actively adjusting its sales strategy for the Chinese market, trying to boost sales by introducing models and pricing strategies that better meet the needs of the Chinese market.
Overall, Porsche is facing increasing competitive pressure in the global car market, especially in the Chinese market. How to maintain brand competitiveness in the fierce market competition will be a problem that Porsche needs to consider seriously about in the future.
If any infringement occurs, please contact us for deletion
Chery Tiggo 9 is about to land in Malaysia under the name Jaecoo J8, updated real-life pictures are available!
On September 25, Chery Tiggo 9 and Chery Tiggo 9 CDM under Chery were officially launched. Among them, the 2025 Chery Tiggo 9 pushed 5 models, and the official guide price is 152,900 to 203,900 Yuan (RM90,000—120,000); Chery Tiggo 9 CMD has 2 models, and the official guide price is 165,900 to 175,900 Yuan (RM98k-104k).Except for the different power systems, the interior and exterior design of Chery Tiggo 9 and Chery Tiggo 9 CMD are identical. It is worth mentioning that, Chery Tiggo 9 will be na
Analysis of the advantages and disadvantages of Mazda CX-5, a SUV that people both love and hate?
Although Mazda comes from the auto powerhouse, Japan, unlike Toyota and Honda, it is not characterized by outstanding sales. Instead, Mazda is a car brand that always sticks to itself. Despite having a very unique brand element, it is stubborn in its products and refuses to compromise with mainstream design. This has caused Mazda's sales to always be unable to match Toyota and Honda, but it can attract a lot of young people's love.The Mazda CX-5, which is the core of Mazda, is positioned the sam
ZEEKR 7X Launched, Breaks 100 in 3 Seconds, Mid-size Pure Electric SUV: Real Shot Pictures Updated!
On September 20, 2024, ZEEKR's first midsize SUV, the ZEEKR 7X, was launched in China. The ZEEKR 7X, as the first family SUV under ZEEKR brand, is positioned as a midsize pure electric SUV. The new car is built on the SEA architecture, with a standard 800V high voltage platform, offering a choice between rear-drive and dual motor four-wheel drive, the latter with a system power of 475 kW, 0-100km/h acceleration in 3 seconds, and optional air suspension. Currently, the only ZEEKR model expected t
BYD Sealion 05 DM-i officially debuts, a new choice for compact plug-in hybrid SUV!
On September 6, the official images of the new model from BYD, the BYD Sealion 05 DM-i, were officially released. The car is positioned as a compact plug-in hybrid SUV, equipped with the fifth-generation DMi technology and is the second model launched by BYD following the BYD Sealion 07 EV.In terms of appearance, the BYD Sealion 05 DM-i continues the "Ocean aesthetics" design concept, the overall silhouette of the car is full and powerful, and the headlights, wheel hubs, and other parts all inco
In Q1 2025, BYD DENZA D9 is set to land in Malaysia, adding a new member to the MPV market!
Recently, Eagle Zhao, the managing director of BYD Malaysia, announce that BYD plans to launch its electric sub-brand DENZA in Malaysia in the first quarter of 2025. howeve he dosen't tell the specific models. However, it is highly probable that the Denza D9, which debuted in Malaysia in July of this year, would be the model entering the market. Let's take a look based on the current price and specifications of the DENZA D9 in the Chinese market,
Popular Cars
Car Compare