Porsche Cayenne becomes the brand's bestselling car in 2022 Q1
Porsche announced the financial results for the first three months of 2022. Porsche shared both its sales revenue and its operating profits have grown compared to the first quarter of the previous year. Porsche's sales revenue grew from 7.73 to 8.04 billion euros along with operating profits that increased from 1.26 to 1.47 billion euros. Porsche shared the return on sales also improved from 16.2 to 18.2 per cent.
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Porsche stated it achieved a growth in revenue despite a fall in deliveries of 5 per cent compared to the preceding year. In the first quarter, Porsche delivered about 68,426 vehicles to customers. Porsche Cayenne stood out as the bestselling model as 19,029 units of it were sold followed by the Porsche Macan of which 18,329 units were sold. The fully-electric Taycan became the third most popular model as 9,470 units of it were sold in the first quarter.
Porsche shared that despite global challenges the company remains to be on the track. Deputy Chairman and Member of the Executive Board responsible for Finance and IT at Porsche AG Lutz Meschke said “In the first quarter, Porsche benefited in particular from a strong sales mix, disproportionate growth in the other business segments and positive currency effects. Due to many external challenges that we cannot influence, it is difficult to provide an outlook. Nevertheless, we are aiming for a return on sales of at least 15 per cent in the financial year 2022."
Chairman of the Executive Board at Porsche AG Oliver Blume shared the sports car manufacturer's electrification plans are showing positive results. “About 23 per cent of all vehicles delivered were electrified – and 14 per cent were fully electric," added Blume. By 2025, Porsche aims to sell half of its products as either fully electric or plug-in hybrid vehicles. By 2030, the proportion of all new Porsche vehicles with an all-electric powertrain is expected to total more than 80 per cent, added the brand.