Porsche records a decline in sales of electric cars

Porsche clearly fell behind in its electric transformation last year. While other manufacturers such as Mercedes and BMW more than doubled their electric sales, the Stuttgart-based sports car and SUV manufacturer saw a significant decline, the company announced on Thursday morning. Porsche sold its only electric car to date, the Taycan sports car, just under 35,000 units last year, a drop of 16 percent.

Porsche justified the setback with “bottlenecks in the supply chains and limited availability of parts”. Both of these affect the Taycan “in a special way”. In the past, it was also said that demand remained high. Why exactly this parts availability of all things Porsche Taycan hits, while other car manufacturers are significantly increasing their electric sales and sales of combustion models are not slowing down at Porsche either, the Stuttgart-based company did not explain.

By 2030, four out of five Porsches delivered should be fully electric. The Group moved further away from this goal in the past year. In 2021, the Taycan accounted for almost 14 percent of sales, compared to just over 11 percent last year. However, Porsche’s share of electric cars is still ahead of that of Mercedes and bmw.

Mostly SUV models

Overall, Porsche sold more cars than ever before last year. The company increased the record value from 2021, when the group sold more than 300,000 cars for the first time, by around 3 percent. A total of almost 310,000 vehicles were sold. The SUV models continue to be particularly popular: Porsche delivered more than 95,000 Cayennes and more than 86,000 Macans. In 2021, the Macan had surpassed the Cayenne. The two particularly large models account for almost 60 percent of sales.

In China, sales fell by 2 percent, and Porsche delivered a good 93,000 vehicles in the People’s Republic. According to the company, the reason for this was the Covid measures. In Germany and Europe, Porsche recorded a slight increase, in the USA the number remained almost the same. In all other countries, including the Arab region, a good eighth more vehicles were sold.

The IPO in September and subsequent inclusion in the Dax determined the past year for Porsche. The company is now considered the most valuable car manufacturer in Europe in terms of market value. The company, which continues to be majority owned by the Volkswagen Group, is in third or fourth place worldwide, depending on the ranking.

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