Porsche Faces Global Sales Decline
(MENAFN) German premium sports car manufacturer Porsche has announced a worldwide decrease in sales for the first six months of the year, attributing the decline largely to escalating rivalry in the Chinese market.
According to a statement released by the company on Tuesday, global vehicle deliveries dropped by 6 percent in comparison to the same period in 2024, with a striking 28 percent reduction in China alone.
China has long been a vital region for Porsche’s business. In 2022, it contributed approximately 30 percent of the brand’s total international sales.
Nevertheless, the trend began reversing in 2023 when deliveries started falling, prompting the automaker to begin shuttering some of its dealerships across the country.
Porsche explained the recent decline was due to “the challenging market conditions” and “intense competition” it currently faces in China.
Local manufacturers, such as Xiaomi, have started gaining significant ground by launching high-performance electric vehicles at more accessible prices.
Moreover, Chinese car producers have managed to dramatically reduce the time it takes to bring new vehicles to market.
This efficiency gives them a competitive advantage over international rivals. Firms like BYD and Chery have slashed development timelines to just 18 months, compared to an average of 5.4 years for foreign carmakers, a news outlet reported earlier this month.
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