Porsche will launch four new cars this year, an all-time record. This will include the new all-electric Macan EV, which Porsche says is already receiving strong orders.
“Our effects are due to strong demand for our hot products and strict fiscal discipline,” Lutz Meschke, Porsche’s chief financial officer, said following the company’s 2023 earnings release.
Porsche generated $44. 2 billion (€40. 5 billion) in 2023, a year-on-year increase of 7. 7%.
Despite emerging inflation and “exceptionally significant investments,” Porsche maintained an operating return on sales of 18 percent. This expansion is partly due to a 3. 3% increase in deliveries, with 320,221 cars outperformed last year.
Thanks to these results, Porsche intends to launch “at least 4 new or specially revised vehicles” this year.
The first will be the new Panamera (which is expected to go electric). After that, the updated all-electric Taycan will go on sale this spring.
Porsche last month unveiled the refreshed 2025 Taycan, which offers more range, faster charging and even greater performance. The company followed up with its “toughest production Porsche to date. “
The Taycan Turbo GT made its official debut this week. With up to 1,092 horsepower, the Porsche Taycan Turbo GT (with Weissach package) can accelerate from 0 to 100 km/h in 2. 1 seconds.
So far in 2024, deliveries of the new Porsche Macan EV will begin. The new all-electric Macan will be built alongside its sister model ICE in Leipzig.
Porsche said orders for the Macan EV “have evolved very positively” since the accounts were opened. CEO Oliver Blume boasted, “We already have 10,000 orders and those consumers haven’t even gone to drive the car yet. “
An upgraded 911, a high-performance hybrid-powered version, is expected to launch early this summer.
As the demand for electric cars increases, Porsche is sticking to its EV sales target. Porsche expects 80% of deliveries to be electric by 2030.
Porsche is “driving electric mobility forward with the same determination as always. “These projects come with an electric 718 planned for the middle of the decade. Subsequently, Porsche will launch its long-awaited electric Cayenne.
Porsche is also expanding its range “upwards” with a new all-electric luxury SUV. The electric SUV will be “positioned sportily on top of the Cayenne. “
The new electric vehicle will be on the SSP platform, which is also expected to power Lamborghini’s first electric model. Blume said the upcoming luxury electric vehicle will be “a very sporty interpretation of an SUV. “
That said, Porsche expects profits to decline this year with the launch of several new models. Porsche is targeting an operating return on sales of between 15% and 17%. Revenues are expected to be higher in 2024, around $40 to $42 billion ($43,700 to $45,800).
At the same time, Meschke stated that Porsche is sticking to its medium-term return target of 17 to 19 percent. In the long term, Porsche is aiming for more than 20 percent.
Source: Automobilwoche, Porsche AG
Peter Johnson covers the automotive industry’s step-by-step transformation to electric vehicles. He is a seasoned investor, money writer, and electric vehicle enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is one of the main reasons he pursued a career in investing. If he doesn’t tell you about his latest discoveries in the 10K, you can spot him enjoying the outdoors or exercising.