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German luxury carmaker Porsche on Thursday reported another drop in sales as deliveries to China plunged.<\/p>\n
The Stuttgart-based manufacturer sold 212,500 vehicles over the first nine months of the year, around 6% fewer than in the same period of 2024.<\/p>\n
Just 32,200 cars were sold in China, a 26% fall year-on-year, amid challenging market conditions and intense competition from local rivals.<\/p>\n
Chief executive Oliver Blume has warned that the market for luxury products in China has collapsed.<\/p>\n
Sales figures also showed a downward trend in Germany and the rest of Europe, although the picture in North America was more positive for Porsche, with 64,400 sales reported.<\/p>\n
The results may have been influenced by customers racing to purchase vehicles before US tariffs came into force.<\/p>\n
The car manufacturer also recorded an increase in overseas markets such as Africa, Latin America, Australia, Japan and Korea.<\/p>\n
According to chief sales officer Matthias Becker, Porsche’s deliveries have remained robust in the current year.<\/p>\n
“The level is in line with our expectations, especially in view of the ongoing geopolitical and economic conditions,” he said.<\/p>\n
The manager also expects the market environment to remain challenging in future.<\/p>\n
With recent product decisions, the company is responding “to the different customer needs worldwide and the delayed ramp-up of electromobility.”<\/p>\n
Around 23% of vehicles sold over the first three quarters of the year were purely electric.<\/p>\n<\/p><\/div>\n