Latest news with #MatthiasBecker
Yahoo
09-04-2025
- Automotive
- Yahoo
1 Out of 4 Porsches Sold Is Now an EV
In the first quarter of 2025, battery-electric models accounted for 25.9% of Porsche deliveries. Plug-in hybrid models represented 12.6% of Porsche vehicle deliveries in the first three months of the year. The Porsche Taycan and its variants, alongside the Macan EV, are the two main BEV model lines for the automaker at the moment, with electric versions of the 718 Boxster and Cayman, Panamera, and Cayenne on the way. For a brand whose enthusiast base was said to be fervently loyal to internal combustion engines and manual transmissions not long ago, Porsche is selling a lot of EVs. The Stuttgart-based automaker revealed its first quarter production and delivery numbers this week, painting a quickly evolving picture of buyer preferences. In all, 71,470 cars were delivered to customers between January and March, with battery-electric models accounting for 25.9% of this number. Not only does this result represent a brisk rate of growth for Porsche's battery-electric offerings, but plug-in hybrids accounted for an additional 12.6% of deliveries. This means 38.5% of all Porsches delivered in the first three months of 2025 were electrified. These are impressive figures for a lineup with only two main EV model lines—the Taycan and its variants and the Macan EV—one of which arrived just about a year ago. And it appears that it's the new Macan that's driving this momentum. Porsche revealed that most of the Macan units delivered were BEV versions of the model. "The Macan performed very well in the first quarter and, with the all-electric variant, is making a significant contribution to our increased electrification rate. Overall, we have a very balanced powertrain mix that reflects the different preferences of our customers, globally," said Matthias Becker, member of the executive board for sales and marketing at Porsche AG. Even though global deliveries saw an 8% drop in the first quarter compared to the same period in 2024, deliveries in North America contradicted this trend and saw a 37% increase with 20,698 vehicles reaching customer driveways. Europe, however, saw a 10% drop compared to the same period in 2024, with Germany alone seeing a 34% decrease in overall deliveries. In all, 18,017 vehicles were handed over to buyers in Europe during the first three months of the year, without counting Germany's 7,495 units. The automaker blamed catch-up effects in early 2024 for the unusually strong results a year ago, which themselves were prompted by import-related delays. So the drop we're seeing this winter is largely due to uneven shipping schedules and bottlenecks seen a year ago. But one notable region that saw a decline in the first quarter was China, with 9,471 cars delivered representing a 42% drop compared to Q1 2024. "We will continue to meet the diverse requirements of our customers in the future with a product strategy that includes all three drive variants for two-door sports cars, sports sedans and sports SUVs well into the 2030s," Becker added. Still, Porsche isn't rushing to electrify all models at the moment, with the 911 model line being the notable holdout. But we expect it's largely a matter of time before the 911, or something similar in form to the 911 but perhaps without that exact badge, becomes available in BEV form. Next up, we'll see an all-electric version of the Cayenne later this year, followed by the 718 Boxster and Cayman for 2027, as well as the Panamera. It appears the EV era is not a passing fad, and is here to stay. Should the 911 be offered in BEV form in addition to the ICE version sometime in the next 10 years, or should the 911 remain an ICE-only or hybrid offering for the next decade or longer? Let us know in the comments below.
Yahoo
09-04-2025
- Automotive
- Yahoo
Porsche reports significant plunge in European and Chinese deliveries
German car giant Porsche recorded a steep fall in Chinese and European deliveries in the first quarter of 2025, partly caused by the discontinuation of certain models, which did not comply with EU cybersecurity laws. Sales plunged 42% in China, to 9,471 units, while sales dropped 10% in Europe, excluding Germany, to 18,017 units in the first quarter. German deliveries plummeted 34% to 7,495 units in the first three months of the year. Porsche AG's shares were up 0.27% on Wednesday morning on the Frankfurt stock exchange. The company's shares, however, are down 26.6% so far this year. Porsche's worldwide deliveries also fell 8% to 71,470 units in the first quarter of 2025. Although the company's North American sales grew 37% to 20,698 units in the first three months of the year, this was not enough to offset weaker performance in other major markets. Porsche attributed this robust growth in North America during the first quarter to 'import-related delays in the delivery of some model lines in the same period last year,' with several restrictions on Chinese car parts. Related Porsche to cut almost 2,000 jobs in Germany as EV demand declines Porsche shares fall as company warns of lower sales The company has discontinued the internal combustion engine (ICE) versions of the 718 Cayman and 718 Boxster models in the EU, as they did not meet the bloc's new cybersecurity laws. These regulations require a cybersecurity management system (CSMS) across the entire vehicle lifecycle. Porsche will also stop global production of the ICE version of these two models by mid-2025 and plans to launch all-electric versions of these models sometime this year. The ICE version of the Porsche Macan model has also been discontinued in the EU. Intensifying competition from Chinese rivals, an escalating trade war as well as lagging global demand have all been major factors contributing to Porsche's disappointing overall performance in the first quarter. Regarding the outlook for the year ahead, Matthias Becker, member of the executive board for sales and marketing at Porsche AG, said: 'Porsche has a very young and highly attractive product range. Customer demand remains at a solid level. At the same time, Porsche is also investing in the brand and the product portfolio in order to be able to react flexibly to customer requirements. 'We are working closely with the various sales regions and will consistently focus on matching demand and supply in line with our 'Value over Volume' strategy.' US president Donald Trump's escalating global tariffs have led to a lot of uncertainty in the worldwide car industry. A 25% tariff on car imports to the US has led to increasing fears of importers being forced to pass on these costs to consumers, with a potential negative impact on car companies' market shares as well. These tariffs could also compel car manufacturers to rethink their current production, distribution and marketing strategies. This could involve moving production plants to more favourable locations, while also investing more in developing other markets. Porsche currently imports all its cars sold in the US from Malaysia and Europe, which leaves it exceptionally vulnerable to these new car import tariffs. Morningstar Equity Research has given Porsche a high uncertainty rating, while also slashing its fair value estimate by 11%, down to €64 per share. Sign in to access your portfolio
Euronews
09-04-2025
- Automotive
- Euronews
Porsche reports significant plunge in European and Chinese deliveries
ADVERTISEMENT German car giant Porsche recorded a steep fall in Chinese and European deliveries in the first quarter of 2025, partly caused by the discontinuation of certain models, which did not comply with EU cybersecurity laws. Sales plunged 42% in China, to 9,471 units, while sales dropped 10% in Europe, excluding Germany, to 18,017 units in the first quarter. German deliveries plummeted 34% to 7,495 units in the first three months of the year. Porsche AG's shares were up 0.27% on Wednesday morning on the Frankfurt stock exchange. The company's shares, however, are down 26.6% so far this year. Porsche's worldwide deliveries also fell 8% to 71,470 units in the first quarter of 2025. Although the company's North American sales grew 37% to 20,698 units in the first three months of the year, this was not enough to offset weaker performance in other major markets. Porsche attributed this robust growth in North America during the first quarter to 'import-related delays in the delivery of some model lines in the same period last year,' with several restrictions on Chinese car parts. Related Porsche to cut almost 2,000 jobs in Germany as EV demand declines Porsche shares fall as company warns of lower sales The company has discontinued the internal combustion engine (ICE) versions of the 718 Cayman and 718 Boxster models in the EU, as they did not meet the bloc's new cybersecurity laws. These regulations require a cybersecurity management system (CSMS) across the entire vehicle lifecycle. Porsche will also stop global production of the ICE version of these two models by mid-2025 and plans to launch all-electric versions of these models sometime this year. The ICE version of the Porsche Macan model has also been discontinued in the EU. Intensifying competition from Chinese rivals, an escalating trade war as well as lagging global demand have all been major factors contributing to Porsche's disappointing overall performance in the first quarter. Regarding the outlook for the year ahead, Matthias Becker, member of the executive board for sales and marketing at Porsche AG, said: 'Porsche has a very young and highly attractive product range. Customer demand remains at a solid level. At the same time, Porsche is also investing in the brand and the product portfolio in order to be able to react flexibly to customer requirements. 'We are working closely with the various sales regions and will consistently focus on matching demand and supply in line with our 'Value over Volume' strategy.' US tariffs continue to batter global car market US president Donald Trump's escalating global tariffs have led to a lot of uncertainty in the worldwide car industry. A 25% tariff on car imports to the US has led to increasing fears of importers being forced to pass on these costs to consumers, with a potential negative impact on car companies' market shares as well. These tariffs could also compel car manufacturers to rethink their current production, distribution and marketing strategies. This could involve moving production plants to more favourable locations, while also investing more in developing other markets. Porsche currently imports all its cars sold in the US from Malaysia and Europe, which leaves it exceptionally vulnerable to these new car import tariffs. Morningstar Equity Research has given Porsche a high uncertainty rating, while also slashing its fair value estimate by 11%, down to €64 per share.
