Taycan a top seller for Porsche

The all-electric Porsche Taycan was launched in September 2019 and was handed over to almost 11,000 customers between January and September.

First customer deliveries in New Zealand are expected in December, subject to any shipping delays, Porsche New Zealand says, adding that orders continue to come in strongly.

In the first three quarters of 2020, Porsche generated an operating result of two billion euros despite the worldwide COVID-19 coronavirus crisis, adding that the Taycan is a major contributor.

With revenue of 19.4b euros, the sports car manufacturer recorded a 10.4% return on sales in the last nine months.

Although the operating result was down by 28% on last year, Porsche AG deputy chairman Lutz Meschke is very satisfied with the result.

“We are now profiting from the fact that continuous optimisation of our processes is part of our DNA.”

The resultant increase in efficiency has enabled Porsche to achieve a double-digit return on sales despite the uncertain situation in the automotive industry, he adds.

Porsche AG executive board chairman Oliver Blume believes the impressive product range is another success factor.

“Our young, attractive product portfolio appeals to customers. I’m optimistic about the coming months,” he says.

“The new 911 and our electric sports car, the Taycan, impressively demonstrate our innovative strength, and their sales figures have exceeded our expectations.” 

Since the start of the year, Porsche has delivered 191,547 cars to its customers worldwide.

Although this is 5% less than in 2019, Porsche has managed to keep the drop at a moderate level when compared to the market as a whole.

The sports car manufacturer has profited primarily from the Chinese market, which has recovered quickly after the lockdown.

Between January and September, Porsche handed over 62,823 vehicles to customers in China. This corresponds to almost a third of all its global deliveries.

Demand is also recovering strongly in other markets.

Porsche is pursuing its investments in digitalisation and electrification too.

About 15b euros will be invested into new technologies over the next five years.

“Although this investment reduces our current result, in the long term it will help to secure the future of the company and jobs,” Meschke says.

Besides the challenging market environment, currency effects have also had a negative impact on the result.

However, Meschke emphasises that a return on sales of 15% still remains the strategic goal of Porsche AG.

“Due to the effects of the coronavirus pandemic this is unrealistic for 2020 but, thanks to our long-term strategy, we are confident that we will achieve a double-digit return on sales at the end of this year.”