In 2024, Porsche's sales in China declined for the third consecutive year, making it the only market in the world where Porsche's sales declined.
The latest data released by Porsche shows that a total of 310,718 vehicles were delivered in 2024, a slight decline of 3% compared with the previous year.
The overall sales decline is obviously mainly affected by the Chinese market. In 2024, Porsche's total new car deliveries in the Chinese market for the whole year were 56,887 units, a year-on-year decline of 28%.
China is also the only market in the world where Porsche's sales have declined. Porsche delivered 75,899 vehicles in Europe (excluding Germany), an increase of 8% year-on-year; in the German domestic market, 35,858 vehicles were delivered, an increase of 11% year-on-year. North America once again became the largest sales region with 86,541 vehicles delivered, an increase of 1% compared with last year; deliveries in overseas and other emerging markets were 55,533 vehicles, an increase of 6% year-on-year.
On November 15, 2024, visitors visited the Porsche booth at the 2024 Guangzhou Auto Show.
Starting from 2022, affected by the wave of electrification and intelligence in the Chinese auto market, Porsche's sales in the Chinese market continued to decline. Faced with the ever-changing environment and challenges in the automotive industry, Alexander Pollich, the new president and CEO of Porsche China, has begun to optimize its retail network layout. By the end of 2024, the number of sales outlets in China has been adjusted to about 140. Porsche also announced that it will adjust its strategy according to market development dynamics and plans to gradually reduce the scale of its outlets to about 100 by 2027. This move is aimed at ensuring the profitability of dealer partners in the local market and bringing customers the consistent excellent experience of Porsche.
While optimizing the scale of its dealer network, Porsche also attaches great importance to improving the in-store experience and service quality of dealers. By the end of 2024, Porsche's new retail concept "Destination Porsche" has covered 35% of offline stores, further providing customers with a luxurious brand experience.
Pan Lichi said that Porsche will not sacrifice product prices in exchange for sales growth, and simply pursuing growth in quantity is not Porsche's goal.
