- Porsche Taycan sales are down 50 percent globally through the first nine months of 2024.
- Overall global sales for the company are down 7 percent.
- The 718 Boxster and Cayman—slated to end production next year—are up 10 percent.
Porsche announced third-quarter and year-to-date sales so far in 2024, and things aren't looking good for the Taycan. The company's flagship EV is down a whopping 50 percent globally—just 14,042 have been sold from January through September. It's a contributing factor in Porsche posting an overall global sales drop of 7 percent.
The decline isn't solely related to electric power, however. The Panamera plunged 20 percent, logging 21,506 sales. The Macan, one of the company's top-selling vehicles, also recorded a 20-percent drop with 55,000 units sold. Porsche says the struggles are largely due to refreshed models arriving at dealerships, though it's worth noting the company stopped selling the gas-powered Macan in Europe, contributing to the dip in sales.
"The market environment remains challenging worldwide," said Detlev von Platen, sales and marketing executive board member at Porsche. "However, with the youngest model range in the company's history and a sales structure that remains very balanced in the sales regions, we are in a robust position. Our strategy of value-oriented sales has proven its worth and will continue to form the basis of our actions in the future."
Looking at regional numbers, things are particularly bad in China, where Porsche is down 29 percent. Sales are also down in North America, though it isn't nearly as dire at 5 percent. The company blames "the ongoing tense economic situation" in China and "limited production availability" for North America as the reasons.
Curiously, there's no mention of softening demand for EVs that's affecting virtually every automaker right now. With the company rolling out the new electric Macan and EV replacements for the 718 just around the corner—and with crosstown rivals Mercedes and BMW also struggling big time in China amid their own EV push—we suspect there are some nervous executives right now in Stuttgart.
It's not entirely doom and gloom for Porsche. The Cayenne is still the company's best-selling vehicle by a wide margin; sales are up 21 percent with 77,686 sold so far this year. We're happy to report 911 sales are also up 2 percent, at 39,744 deliveries. Ironically, the 718 Boxster and Cayman logged 18,048 sales, a year-over-year increase of 10 percent. These models will be discontinued next year.
"2024 is a particularly challenging year for us with limited product availability in some cases," said von Platen. "However, we are deliberately focusing on a quality-oriented ramp-up in our new model series so that we can continue to offer our customers an unmistakable brand and product experience in the future."
