Porsche tumbles, global Q1 sales fall with Americans and Chinese buying less

Luxury and performance car makers have had a solid run over the past few years with sales increasing and demand outpacing supply. Porsche too has had a jolly good time so far but there are indications that the going ahead may get tougher. The German brand reported a four per cent drop in Q1 sales compared to the same period of 2023 with key markets like the US and China going in the Red.

Porsche has announced that in the first three months of the ongoing calendar year, it delivered 77,640 to customers across the world. While it did manage to improve its performance in Europe, its slide in North America (down by 23 per cent to 15,087 units) and China (down by 24 per cent to 21,365 units) is emerging as a matter of serious concern.

The company has blamed customs-related delay in the shipping as one of the key factors why deliveries were hit in North America in Q1 while in China, Porsche says its emphasis on value-oriented sales as well as challenging economic situations have had an impact.

In the speed lane

Porsche fared particularly well in European markets in Q1 of 2024 with sales in Germany climbing by as much as 37 per cent to 11,274 units. In Europe overall, Porsche delivered 14,895 units.

The Porsche Cayenne remains the most popular model from the company with 28,025 units being delivered the world over, even if the sales of Macan fell by 14 per cent to 20,576 units. The iconic Porsche 911 continues to fare well with 12,892 units being delivered in the quarter ending March.