Porsche reports that its global car sales during the second quarter of 2024 amounted to 78,305, down nearly 10% year-over-year. It was the fourth negative quarter in a row.
The sales issues also concern the all-electric Porsche Taycan model, which in Q2 noted a 48% year-over-year decline to 4,602 units. It was the second time Taycan's sales were cut in half, but we also know that the model awaits its new 2025 model year version with a set of noticeable upgrades.
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2025 Porsche Taycan is coming
In 2023, Porsche Taycan sales exceeded 40,000 units. So far this year, sales are less than 9,000. The new version is expected to boost results, but there are rumors that demand has weakened to a point where production must be reduced.
According to Stuttgarter Zeitung (via Electrive), Porsche is considering limiting the production of the Taycan to a single shift in response to weakened demand. There is no official confirmation of this rumor, but the German media described it as a "likely" scenario.
We assume that all depends on the inflow of orders for the upgraded Porsche Taycan version, which offers a higher capacity battery and longer range, quicker acceleration, and faster DC charging, among other improvements.
One of the most interesting parts of Stuttgarter Zeitung's article is that the slump in the global e-car markets is reaching Porsche with a slight delay compared to other manufacturers.
Porsche BEV sales in Q2'2024 (YOY change):
- Taycan: 4,602 (down 48%) and 5.9% share
including 807 in the United States (down 51%)
Porsche Taycan Sales in Q2 2024
During the first half of the year, sales of the Porsche Taycan decreased by 51% to 8,838 units or 5.7% of the company's total volume.
Porsche BEV sales in Q1-Q2'2024 (YOY change):
- Taycan: 8,838 (down 51%) and 5.7% share
including 2,054 in the United States (down 35%)
For reference, Porsche Taycan's global sales in 2023 amounted to 40,629, 17% more than in 2022, and accounted for 12.7% of the total volume.
Porsche does not report the number of plug-in hybrid sales for the Cayenne and Panamera because they are counted together with ICE versions.
The slowdown in EV sales does not mean that Porsche will not continue its electrification efforts. In the second half of 2024, Porsche will launch the Porsche Macan, based on the Volkswagen Group's all-new Premium Platform Electric (PPE) platform (see an overview here).
According to the company, the new model "recorded a very pleasing order intake," indicating "great demand."
The all-electric successor to the Porsche 718, a two-seat EV, and the large electric SUV K1 from Leipzig are also on the horizon.
