An expectedly poor Q1, but a positive outlook for the rest of the year.
Porsche's global sales figures for the first quarter of 2020 are in, and the news isn't great, but perhaps not surprising considering the current economic climate. Overall, deliveries were down by five percent from January to March relative to the same period last year (53,125 units, down from 55,700 in 2019). Expectedly, Porsche has been hit by the continued effects of Covid-19. Global shutdowns have not only forced factories to cease operations, but many dealerships have had to temporarily close their doors, too.
In the USA, Porsche's downturn was even more noticeable, with 11,994 deliveries in the first three months of 2020, down from 15,024 over the same period last year. That's a 20 percent drop; by contrast, European deliveries were up by 20 percent. Asia-Pacific, Africa, and the Middle East combined for 22,031 deliveries, a decline of eight percent.
By country, the USA remains the second strongest performer for the German brand, behind China which saw 14,098 deliveries. In Germany, Porsche delivered 5,214 vehicles. The overall decline hasn't changed the fact that the manufacturer's SUVs continued to lead the way, with the Cayenne in first place with 18,417 worldwide deliveries, followed by the smaller Macan which registered a figure of 15,547. The Porsche 911 saw a 16 percent increase in deliveries to 8,482 units, no doubt bolstered by the arrival of the new 992 generation.
And what about the all-electric Taycan? Its first-quarter deliveries totaled 1,391, not bad considering the EV's high price. In the US, 221 Taycans found homes but, with the addition of the 4S version, this number can be expected to rise in the coming months, provided that production isn't severely affected.
The declining sales numbers are being viewed in a realistic light by Porsche. "We are not alone in clearly feeling the effects of the coronavirus pandemic on our deliveries," said Detlev von Platen, Member of the Executive Board (Sales and Marketing) at Porsche. "But our focus now is on standing together with our business partners worldwide. Working together, we are in a position to react quickly and appropriately to further developments."
Porsche is now gearing up to get production back underway in the second quarter, while considering the safety of its employees as many of them return to work. "We are confident that the outlook is positive, not least because we see a clear recovery in the Chinese market; almost all of our Porsche Centers there have already reopened."
Here's holding thumbs that the second quarter will be a more promising period for Porsche and other manufacturers.