Porsche sales in China have fallen sharply in the first nine months of this year. According to Porsche, sales in that important market fell by 26 percent to 32,195 cars compared to last year.
Like other German carmakers, Porsche in China is facing fierce competition from local brands such as BYD, but also weak demand due to the crisis in the Chinese real estate market. Luxury cars are therefore less popular.
Worldwide sales of the Stuttgart brand fell by 6 percent to 212,509 cars in the first three quarters. Porsche is also having a difficult time in its German home market, where sales fell by 16 percent. In North America, Porsche’s largest market, sales rose by 5 percent. There was also growth in other markets.
The Macan is Porsche’s best-selling model. Sales of this model rose by 18 percent. But sales of the 911 fell by 5 percent. Other models such as the Taycan and Cayenne were also sold less.
According to Porsche, more than 35 percent of the cars sold in the first nine months were fully electric or hybrid. The company speaks of “robust” delivery figures in challenging market conditions and geopolitical uncertainty.