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The automaker reported moderate sales increases in certain markets, including Europe
by Brad Anderson
April 11, 2024 at 14:07
- The Cayenne was the brand’s best-selling model in Q1, shifting 28,025 units.
- Sales in North America fell by 23% while those in China were down 24%.
- Deliveries of the outgoing Panamera and Taycan fell considerably.
Over the past few years, we have become accustomed to seeing premium car brands reporting sales increases on a routine basis. Porsche has been among them. But not in Q1 of 2024, as the German brand’s deliveries actually decreased – and in some regions, by a lot.
During the first three months of the year, Porsche delivered 77,640 vehicles to customers around the world. This is a 4% decline from Q1 2023 and was primarily due to a significant slowdown in deliveries in North America and China. In fact, deliveries in North America plummeted by 23% to 15,087 units, down from 19,651 a year ago. Chinese deliveries dipped by 24% from 21,365 to 16,340 units.
Read: The 2025 Taycan Turbo S Is The Most Powerful, Quickest Production Porsche Ever
Porsche has blamed the Chinese slowdown on its focus on value-oriented sales, tense economic conditions, and an unusually strong Q1 2023 due to catch-up effects after Covid-19. In North America, the slowdown has been attributed primarily to a customs-related delay in the shipping of some models.
The German automaker did experience an upturn in deliveries in certain markets. In Germany, they surged by 37%, climbing from 8,247 units to 11,274. Sales also saw an increase across Europe as a whole, rising by 9%, and in overseas and emerging markets by 14% to 14,895 units.
During the last quarter, the Porsche Cayenne emerged as the brand’s top-seller, with 28,025 units sold, marking a robust 20% increase over the same period in 2023. Conversely, sales of the Macan dipped by 14% to 20,576 units, partly due to an exceptionally strong Q1 last year and anticipation for the upcoming next-generation all-electric Macan. However, in North America, the ICE model will remain available for a couple more years alongside its electric counterpart.
Demand for the most iconic of all Porsche models, the 911, jumped by 17% to 12,892 units. Sales of the Panamera and Taycan slipped by 28% and 54% respectively due to the imminent arrival of thoroughly updated versions of both.
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