Porsche stands by EV sales target despite falling Taycan sales, supply chain issues

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 is still aiming for 12%-14% EV sales share in 2023

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.