Porsche Sales Slide 6% in 2023, Hit Hard by Decline in Chinese Demand

Porsches global sales fell 6% in 2023, driven by a significant 26% drop in demand from China, raising concerns for the Volkswagen Group amid increasing competition.

In the first nine months of 2023, Porsche sold 212,509 units worldwide, indicating a 6% decline compared to previous year figures.
Deliveries to China totaled only 32,195 cars, reflecting a drastic 26% drop, largely due to intensified competition in the market.
The decline in sales has been notably felt in both Europe and China, impacting Porsches overall performance as part of the larger Volkswagen Group.

Why It Matters

This decline in Porsches sales highlights the challenges faced by luxury automakers, particularly in China, where competition is rising. It also underscores the broader trends affecting the automotive industry, including shifts in consumer preferences and the need for innovation in electric car offerings.