Porsche shares rose of their inventory market debut Thursday, in one of many greatest public choices in Europe ever.
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Porsche managed to extend its world deliveries final yr by 2.6% regardless of worldwide provide chain points that crippled different carmakers in addition to gross sales of its first all-electric automotive.
The German sports activities automotive producer stated Thursday it delivered 309,884 automobiles to prospects final yr, up from 301,915 automobiles in 2021.
“The many challenges caused by the war in Ukraine, interrupted supply chains and the ongoing semiconductor crisis have shaped the past year and put us to the test,” Detlev von Platen, Porsche’s head of gross sales and advertising, stated in a launch.
Luxury car gross sales have fared higher than mainstream fashions amid excessive rates of interest and inflationary pressures. Ultra-luxury automakers Bentley and Rolls-Royce each reported report gross sales final yr.
Porsche’s U.S. gross sales outpaced an estimated 8% to 9% decline in total auto gross sales in 2022.
Leading Porsche’s slight rise in gross sales final yr was a 13% improve in abroad and rising markets, adopted by an uptick of 5.8% in Europe. Its gross sales in North America have been flat, and deliveries declined about 2% in China.
Porsche’s U.S. gross sales have been primarily degree for the yr, rising by simply 40 items to 70,065 automobiles. The largest rise in gross sales was a 22.5% improve within the Cayenne crossover. Most different fashions skilled notable declines, together with a roughly 23% drop in gross sales of Porsche’s all-electric Taycan to 7,271 items.
The carmaker stated the decline in Taycan gross sales, together with a 16% drop globally, was “due to supply chain bottlenecks and limited component availability.”