In March 2022, Porsche set a bold objective. The company wanted electric vehicles to account for more than 80 percent of sales by the end of the decade. But now Porsche's not so sure it can reach that goal. In an interview with Reuters, a company spokesperson said: "The transition to electric cars is taking longer than we thought five years ago."
That's not to say the product strategy is changing. Porsche's EV agenda will make it (theoretically) possible for four in five cars sold by 2030 to do away with the combustion engine altogether. But the peeps from Zuffenhausen are now adding an asterisk next to 2030: "dependent on customer demand and the development of electromobility."
The 718 Boxster and 718 Cayman with gas engines will be wiped out from the lineup in 2025 to make room for EV replacements. Already launched, the fully electric Macan will supersede the first-generation ICE model in 2026. Due later this decade, the fourth-generation Cayenne has been confirmed to rock down to the electric avenue.
Porsche has already suggested the Panamera could evolve into an EV. It would be positioned above the Taycan as a larger, more luxury-oriented product. A 911 EV is not planned for this decade, but the electrification process already started with the new 911 GTS and its T-Hybrid setup.
Porsche is far from being the first luxury brand to concede the EV uptake isn't going as planned. Bentley wanted to go completely electric by 2030 but that objective has been pushed back by three years. Mercedes recently admitted it too was enthusiastic about electrification goals. It originally estimated PHEVs and EVs would account for half of sales by 2025, but now hopes to get there by 2030. Cars with combustion engines will be available "well into the 2030s."
The adoption of EVs hasn't exactly been smooth sailing for Audi either. The company recently admitted it might be forced to end production of the Q8 E-Tron and Q8 Sportback E-Tron earlier than scheduled due to poor sales. The exact words were: "segment-specific intensified drop in demand." If it can't find a solution to keep the Brussels site up and running, the plant in Belgium could be shut down.
These setbacks have us worried about Jaguar's future considering the British marque is still going all-in on EVs. All current models–including the I-Pace–are dead, except for the F-Pace. The latter will also be discontinued soon as parent company JLR is moving Jag upmarket by transitioning the Leaping Cat to an exclusively electric ultra-luxury brand.
Some mainstream automakers have made similar announcements. Ford of Europe has backed away from its goal to offer an EV-only passenger car lineup by 2030. Volkswagen has postponed the launch of the ID.7 in the United States indefinitely because "market dynamics continue to change." That's just a nice way of saying VW is worried the electric liftback would be a tough sell in America.
Only a handful of car companies have been reluctant about the projected rapid rise of EVs. Toyota's chairman Akio Toyoda thinks electric cars will never exceed a 30 percent market share. BMW still hopes EVs will represent 50 percent of the company’s sales by the end of the decade but it hasn't set a cutoff date for ICE cars.
Automakers are in a difficult position, having to juggle increasingly stricter emissions regulations for gas cars while also developing a comprehensive EV lineup. It's a costly endeavor, which is why there are fewer and fewer coupes and convertibles on sale today. Unpopular cars are getting the axe so that companies can focus on what sells better, mainly crossovers and SUVs.
