The sales keep coming for Porsche, and money is piling up in the company’s piggy bank at a pretty rapid clip too.
Total sales grew from 297,289 in 2021 to 313,721 in 2022, an increase of 5.5 per cent.
Once again a crossover was Porsche’s top-selling vehicle, although last year it was the Cayenne, which leapt over the smaller Macan. Like other manufacturers, Porsche seems to have prioritised production and sales of its larger and more profitable models.
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The only two model lines to see sales fall were the 718 Boxster/Cayman, and all-electric Taycan. Porsche blamed “parts shortages and disruptions in global supply chains” for the decrease in Taycan numbers.
Because of the Taycan’s 13.1 per cent sales dip, pure electric vehicles only accounted for 11.3 per cent of total sales, down from the current high water mark of 13.7 per cent in 2021.
In its annual press conference overnight, Porsche said it expects 80 per cent of sales by 2030 to be pure electric vehicles.
Despite strict COVID-19 lockdowns in many major cities, sales in China rose 1.6 per cent to 96,360, and the Middle Kingdom remains the largest single market for the brand, ahead of the USA/Canada, Europe excluding Germany, the rest of the world, and Germany.
Help by a “positive product mix” — namely selling more of its expensive, high margin vehicles — and beneficial currency fluctuations, Porsche enjoyed a 18.6 per cent operating margin on its cars, up from 16.6 per cent in 2021.
This helped to push the company’s profit after tax to €4.96 billion, up from €4.04 billion the year before, or an improvement of 23.0 per cent.
With the Cayenne leading its sales and profit charge, Porsche confirmed overnight that the next-generation Cayenne will be an all-electric model. Likely due in 2026, it will be joined a Macan EV in 2014, 718 EV around 2015, and in 2017 a new electric crossover that’s a size larger than the Cayenne.