Global Disasters Can't Slow Porsche Down

It's a tough time to be an automaker right now with global supply chain issues, rising fuel prices, an ongoing pandemic, and the escalating situation in Ukraine. To make matters worse for Porsche, the company lost over 1,000 vehicles at sea when the Felicity Ace cargo ship sank following a devastating fire. Somehow, Porsche was able to overcome all of these catastrophes, delivering 68,426 vehicles in the first quarter of 2022. That's a 5% decrease compared to a record-breaking 2021, but considering the global landscape, we'd call it a victory.

"In light of the exceptional circumstances affecting the wider automotive industry, our sales teams and dealers performed well in the first quarter," says Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG. "The resurgence of the coronavirus in some regions such as China, coupled with ongoing significant supply and logistical challenges, have put us to the test. At the same time, our products continue to be in high demand among customers worldwide - equally in Europe, the Americas, and China."

Porsche delivered 22,791 vehicles in Europe, a year-on-year increase of 18%. This growth was partially driven by 6,925 deliveries (a 16% increase) in Porsche's home market of Germany. Sales in China, Porsche's largest single market, dropped to 17,685 units (down from 21,991 in 2021), marking a 20% drop. Porsche blames the sales drop in China on the viral outbreak and the subsequent closure of Porsche Centers in some regions, among other logistical challenges. The company faced similar obstacles in the US, where it sold 13,042 units (compared to a company record 17,368 in 2021), a drop of 25%.

To no one's surprise, SUVs drove the majority of Porsche's sales. The Porsche Cayenne was the best-selling model with 19,029 units sold, followed by the Porsche Macan with 18,329. Buyers are loving the company's first EV, the Taycan, which outsold the flagship 911 with 9,470 units (the 911 sold 9,327). Surprisingly, the Panamera sold 7,735 units compared to just 4,536 for the 718 Boxster and Cayman.