Porsche sticks to EV sales target with new electric Macan already seeing strong orders

Porsche is launching four new vehicles this year, its most ever. This will include the new all-electric Macan EV, which Porsche says is already seeing strong orders.

Porsche AG 2023 earnings results

“Our strong results are due to the high demand for our attractive products and strict cost discipline,” Porsche CFO Lutz Meschke said following the company’s 2023 earnings results.

Porsche generated $44.2 billion (40.5 billion euros) in revenue in 2023, up 7.7% year-over-year (YOY).

Despite rising inflation and “exceptionally high investments,” Porsche maintained an operating return on sales of 18%. The growth was partly driven by a 3.3% rise in deliveries, with 320,221 vehicles handed over last year.

Following the strong results, Porsche aims to launch “no fewer than four new or considerably revised” vehicles this year.

The first will be the new Panamera (which is slated to go electric). After that, the updated all-electric Taycan will go on sale this spring.

Porsche revealed the refreshed 2025 Taycan last month, which packs more range, faster charging, and even better performance. The company followed it up with its “most powerful series production Porsche of all time.”

The Taycan Turbo GT made its official debut this week. With up to 1,092 hp, the Porsche Taycan Turbo GT (with Weissach package) can hit 0 to 60 mph in 2.1 seconds.

Porsche Macan EV sees strong orders ahead of deliveries

In the second half of 2024, deliveries of the new Porsche Macan EV will kick off. The new 100% electric Macan will be built alongside its ICE sister model in Leipzig.

Porsche said Macan EV orders have “developed very positively” since the books opened. CEO Oliver Blume boasted, “We already have 10,000 orders, and these customers haven’t even been able to drive the car yet.”

An upgraded 911, including a high-performance hybrid drive version, is due out early this summer.

With demand for electric vehicles climbing, Porsche is sticking to its EV sales target. Porsche expects 80% of deliveries to be all-electric by 2030.

Porsche is “driving forward the ramp-up of e-mobility with the same dedication as ever.” These plans include an electric 718 planned for the middle of the decade. Following that, Porsche will launch its long-awaited electric Cayenne.

Porsche is also expanding its lineup “upwards” with a new all-electric luxury SUV. The electric SUV will be “sportily positioned above the Cayenne.”

The new EV will be based on the SSP platform, which is also expected to power the first electric Lamborghini model. Blume said the upcoming luxury EV will be “a very sporting interpretation of an SUV.”

That said, Porsche expects lower profits this year with several new model launches. Porsche aims for an operating return on sales between 15% and 17%. Revenue is expected to be slightly higher in 2024, at around 40 to 42 billion euros ($43.7K to $45.8K).

Meanwhile, Meschke said Porsche is sticking to its mid-term return target of 17% to 19%. In the long-term, Porsche aims for over 20%.

Source: Automobilwoche, Porsche AG