AutoGear
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語
  • STANDINGS
No Result
View All Result
AutoGear
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語
  • STANDINGS
No Result
View All Result
AutoGear

Porsche’s Taycan Slumps by 50% as Global Sales Take a Hit—Are EVs Losing Their Spark?

Miguel Cunha by Miguel Cunha
November 13, 2024
in Latest News
Reading Time: 3 mins read
0
Porsche’s Taycan Slumps by 50% as Global Sales Take a Hit—Are EVs Losing Their Spark?

Porsche’s electric dream is facing a stark reality check. The luxury automaker’s flagship EV, the Taycan, has seen a staggering 50 percent drop in global sales through the first nine months of 2024, with only 14,042 units sold. This sharp decline is contributing to Porsche’s overall sales dip, which is down 7 percent worldwide.

Despite efforts to electrify its lineup, Porsche’s woes aren’t limited to the Taycan. The Panamera, another key model, plunged 20 percent in sales, managing just 21,506 units. Even the popular Macan SUV hasn’t escaped the downturn, also seeing a 20 percent drop with 55,000 units sold. Porsche attributes part of this to the phasing out of the gas-powered Macan in Europe and the introduction of refreshed models at dealerships, but the numbers tell a grim tale.

Global Troubles: China’s Market Decline Hits Hard

Regionally, Porsche is feeling the pressure most acutely in China, its largest market, where sales have nosedived by 29 percent. North America isn’t faring as poorly, but it still recorded a 5 percent decline. Porsche points to a “tense economic situation” in China and “limited production availability” in North America as the primary factors behind these regional setbacks.

Notably absent from Porsche’s explanation is any mention of softening demand for EVs, an issue plaguing automakers worldwide. With its rivals like Mercedes and BMW also struggling in China amid aggressive EV rollouts, it’s clear the industry is facing a crisis of confidence, and Porsche may not be immune.

The Bright Spots: Cayenne and 911 Keep the Flame Alive

It’s not all bad news, though. The Cayenne SUV is Porsche’s star performer, boasting a 21 percent increase in sales, with a massive 77,686 units sold so far in 2024. The iconic 911 also held its ground, with a modest 2 percent increase, reaching 39,744 deliveries.

Surprisingly, the soon-to-be-discontinued 718 Boxster and Cayman models are seeing a resurgence, logging a 10 percent year-over-year growth with 18,048 units sold. These sports cars are defying the downturn, giving Porsche a glimmer of hope amid the broader slump.

Executive Spin: Porsche Insists on Quality Over Quantity

Despite the alarming figures, Porsche remains defiant. Detlev von Platen, the brand’s sales and marketing executive, downplayed the challenges, stating, “The market environment remains challenging worldwide. However, with the youngest model range in the company’s history and a balanced sales structure across regions, we are in a robust position.”

Von Platen further emphasized a “quality-oriented ramp-up” for new models, insisting that Porsche’s focus on providing a premium brand experience will pay off in the long run. The automaker is also banking on upcoming launches like the electric Macan and EV replacements for the 718 series to regain momentum.

But with EV sales tanking and crosstown rivals struggling to gain traction in key markets, one thing is clear: Porsche is in for a bumpy ride. Will the Stuttgart-based automaker manage to steer its EV strategy back on track, or is this the beginning of a larger reckoning for luxury EVs?

Share212Tweet133Send

Related Posts

Zenvo prepara versão roadster do Aurora
Latest News

Zenvo is preparing a roadster version of the Aurora.

Zenvo showcased the Aurora, the hypercar, in its “Tur” variant with 1876 hp, powered by a 6.6-liter quad-turbo V12 engine...

by Virgilio Machado
July 26, 2025
Renault e Volvo criam empresa para desenvolver furgões 100% elétricos
Latest News

“New generation of the Renault Clio set to debut in September.”

Renault has confirmed that the sixth generation of the Clio will be revealed soon, with all indications pointing to the...

by Virgilio Machado
July 25, 2025
Mitsubishi Eclipse Cross 100% elétrico chega em setembro
Latest News

Mitsubishi leaves the Chinese market with the end of the Shenyang Aerospace joint venture.

Mitsubishi Motors Corporation announced the end of its joint venture agreement with Shenyang Aerospace Mit. Engine Mfg. Ltd. (Shenyang Aerospace...

by Virgilio Machado
July 25, 2025
Gilles Vidal deixa a Renault e junta-se à Stellantis
Latest News

Gilles Vidal leaves Renault and joins Stellantis.

After five years at Renault, where he arrived under Luca de Meo, designer Gilles Vidal has just been appointed design...

by Virgilio Machado
July 25, 2025

Recent News

Jaguar’s Formula E Catastrophe: Mitch Evans’ Heart-Wrenching London Implosion

Jaguar’s Formula E Catastrophe: Mitch Evans’ Heart-Wrenching London Implosion

July 26, 2025
Denny Hamlin Crashes in Brickyard 400 Qualifying,makes major contact with wall, Will Start 39th After Switch to Backup Car

Denny Hamlin Crashes in Brickyard 400 Qualifying,makes major contact with wall, Will Start 39th After Switch to Backup Car

July 26, 2025
O’Ward’s Epic Quest to Overcome Chip Ganassi Racing Dominance in Final Season Battle

O’Ward’s Epic Quest to Overcome Chip Ganassi Racing Dominance in Final Season Battle

July 26, 2025
Hamilton’s Shocking Apology Sparks FIA Action Amid Verstappen’s Red Bull Future – Exclusive!

Hamilton’s Shocking Apology Sparks FIA Action Amid Verstappen’s Red Bull Future – Exclusive!

July 26, 2025

Newsletter

  • PRIVACY POLICY
  • TECHNICAL INFORMATION
  • EDITORIAL STATUS
  • TERMS AND CONDITIONS

© 2023 AutoGear - Todos os direitos reservados AutoGear.

No Result
View All Result
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語

© 2023 AutoGear - Todos os direitos reservados AutoGear.

Enable Notifications OK No thanks