Porsche AG delivered 77,640 cars to customers worldwide in the first quarter of 2024. This represents a moderate decline of four percent compared to the same period in 2023. Despite the slight decrease, the delivery figures still point to strong demand for Porsche vehicles globally.
Porsche's delivery performance in the first quarter varied regionally. Deliveries in Europe increased by eight percent year-on-year, while overseas markets (excluding China) also saw five percent growth. However, deliveries in China and North America declined by five percent and three percent, respectively.
Reasons Behind the Regional Variations
Several factors contributed to the regional variations in Porsche's first-quarter deliveries.
- Europe: The strong performance in Europe is likely due to a combination of factors, including continued economic recovery in the region and a growing demand for Porsche's electric vehicles (EVs). The Taycan, Porsche's first all-electric sports car, has been a particular success story in Europe, with sales exceeding expectations.
- Overseas Markets: Growth in overseas markets (excluding China) is likely due to increasing affluence and a growing appreciation for luxury cars in these regions.
- China: The decline in deliveries to China is likely due to ongoing economic concerns and potential trade tensions. The Chinese market remains a crucial battleground for luxury car manufacturers.
- North America: The slight decrease in deliveries to North America is likely due to several factors, including rising interest rates and ongoing supply chain challenges.