Porsche stands by EV sales target despite falling Taycan sales, supply chain issues (2024)
Despite sales of its sole electric sports car falling in the first half of the year, Porsche is standing by its EV sales target for 2023. The automaker is warning supply chain disruptions could remain an issue for EV growth.
Porsche released the Taycan in 2019, and it quickly rose to become one of the brand’s top-selling models.
However, the growth has been fading for nearly two years now. After Taycan sales fell 16% last year to 34,801 units, Porsche attributed it to “supply chain bottlenecks and limited component availability.”
The trend has continued this year, with Taycan EV sales slipping another 4.7% in the first half of 2023 to 17,991 (compared to 18,777 in H1 2022).
According to Porsche, the Taycan deliveries continue to feel the impact of “shortfalls in the availability of parts,” more so than in other models. The electric car requires up to 5,000 semiconductors, which is more than any other vehicle in its lineup.
Despite the shortcomings so far this year, Porsche confirmed it still expects to hit its EV sales target of 12% to 14% delivery share.
Porsche’s EV share was at 10.8% through the first half of the year, down from 13% last year.
Meanwhile, Porsche continues relying on its ICE vehicles, with higher deliveries, operating profit, and revenue.
Several reports lately have indicated Porsche will continue to lean on ICE vehicles for the foreseeable future. For example, last month, Automotive News reported Porsche was reconsidering plans to phase out gas-powered Macan sales.
A new report from Reuters claims Porsche plans to make the gas-powered 911 its last gas-powered vehicle in its lineup. 911 deliveries grew by over 20% in the first half of the year.
The Macan EV is expected to be Porsche’s second all-electric vehicle, due out next year. After that, an electric 718 is planned for 2025, followed by the Cayenne EV in 2026.
Porsche is also developing a premium luxury electric SUV expected to launch in 2027. The company is aiming for 80% of its lineup to be electric by 2030.
Electrek’s Take
Despite CEO Oliver Blume’s claim that “Once again we have posted successful figures while investing extensively in our future at the same time,” Porsche doesn’t have much to show regarding EVs.
Its sole electric vehicle “continued to be particularly affected by the limited availability of parts” in the first half.
Porsche has been claiming that supply chain issues are a thing of the past, but are they? The automaker is sticking to its EV sales target this year, so we will continue to watch the situation as it unfolds.
The slight decrease is explained by the company as due to the model changeover, including four out of six model lines: the all-electric Macan, the new Panamera, the Taycan, and the new 911.
Porsche saw robust growth in the 2023 fiscal year and posted a slight gain in deliveries. The sports car manufacturer delivered a total of 320,221 cars over the past 12 months. That's three per cent more than in 2022.
Several automakers have said that concerns about driving range and charging infrastructure are increasing. These issues may lead consumers to have second thoughts about buying an EV.
Porsche is on an electrification journey, with aims to deliver more than 80% of its new vehicles with purely battery-electric drives in 2030. In the 2023 reporting year, the Porsche AG Group delivered 29,403 PHEVs (9.2% of total deliveries) and 41,023 BEVs (12.8% of total deliveries).
A combination of technology upgrades, price fluctuations on new cars, and lack of demand has meant a rapid drop in value for many electric models. This phenomenon is especially dramatic for Porsche's Taycan EV, with high-spec Turbo models losing almost $100,000 in value within four years.
Porsche estimates that new customers will have to wait between six and nine months to take delivery of their Taycan EVs, CEO Oliver Blume said yesterday after the company's general annual meeting. The delays are caused by complex factors, including geopolitics and the pandemic, which affected Taycan sales last year.
Blending sports-sedan poise with EV silence, the Mercedes-Benz EQE can be a compelling choice for those looking for electric power and a Mercedes-Benz badge. The Tesla Model S is far from a new face, but it still leads in technology, performance, and minimalist cabin style.
While numerous EV sedans can thrill you with insane straight-line performance, the 2025 Porsche Taycan blends that same effortless acceleration with sports-car-sharp reflexes. That's why it's a favorite around the Car and Driver office. And this year, the most powerful model packs up to 1019 horsepower.
The all-electric sports cars covered up to 587 kilometres on one battery charge on public roads. "For the particularly efficient Taycan sports saloon with the large battery, this practical, final test resulted in a total range of up to 587 kilometres," says the Vice President for the model line Kevin Giek.
While bigger batteries allow drivers to travel farther between charges, they also make the cars heavier, more dangerous, more expensive, and worse for the planet. The "range anxiety" that has resulted in massive batteries is another reason EVs don't work as a replacement for gas cars.
The most obvious reason for consumer disenchantment is the hassle of charging EVs. Few drivers are willing to plan their lives around finding a charging station and waiting around for their battery to top up. During the nation's recent Arctic blast, motorists found that getting a full charge took even longer.
The most wanted Porsche, according to the ultra-humble brand, is the 967/1968 Porsche 911R. Only 19 of these vehicles were ever created, and with its 2.0 liter, lightweight long hood short wheelbase, it is super special to Porsche aficionados. Also much beloved is the 1973 917/30 Spyder.
The demographic of the Porsche owner, includes a college graduate, household income over $100,000, 85% male, and 15% female. The typical Porsche owner is 40 years old and up with Porsche targeting the 25-54 age demographic seeking a slightly younger audience with the “Engineered for magic, every day” campaign.
The launch of the new Macan is an important moment for Porsche. The two models that are initially available (as of February 2024) – the Macan 4 and Macan Turbo – mark the first-ever all-electric Porsche SUVs in a range that eventually will be exclusively fully electric.
Overall, the sports car manufacturer delivered 77,640 vehicles to customers around the world between January and March. This represents a moderate decline of four per cent on the previous year. “In 2024, we are getting ready for the future.
“We ushered in the new era of e-mobility with the Taycan at the end of 2019. It immediately proved to be a game changer and innovative pioneer in the e-vehicle segment,” says head of the model line, Kevin Giek. “We are now continuing this success story with the extensively updated Taycan.
German sports carmaker Porsche on Thursday confirmed it had recalled several thousand of its electric Taycan model because of risks their batteries could catch fire. Faulty cells in some batteries could short-circuit and ignite, a spokesperson said.
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