Porsche Q1 US Deliveries Slump 24.9% Hit By Supply, Transit Issues

• Volkswagen AG (OTC:VWAGY) owned luxury carmaker Porsche Cars North America Inc (PCNA) reported a 24.9% decline in Q1 FY22 U.S. retail deliveries.
• A mix of factors, including supply-chain shortages, war, and the sinking of a cargo ship carrying millions of dollars worth of product across the Atlantic, has caused the slump, reported Bloomberg.
• The company delivered 13,042 units in Q1 versus 17,368 units last year.
• Porsche's top deliveries were its SUV models, the Macan and Cayenne, followed by the Porsche 911 and the all-electric Taycan.
• The report added that recently Volkswagen snubbed Germany's Deutsche Bank AG (NYSE:DB) in favor of American banks to play the lead role in Porsche's initial public offering. 
• The IPO is expected to be one of Europe's biggest ever, with a valuation of $100 billion.
• Price Action: VWAGY shares closed lower by 0.56% at $25.08 on Monday.
• Photo by Wikimedia Commons