Porsche AG Announces Q3 2022 Financial Results

Delivery of 221,512 Units Worldwide

[Asia Economy Reporter Kiho Sung] Porsche AG announced on the 17th that it delivered a total of 221,512 vehicles up to the third quarter of this year, a 2% increase compared to the same period last year. Sales increased in the European and German markets, with the Porsche Cayenne recording the highest demand.

Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG, said, "Despite several challenging situations throughout the year, we were able to achieve strong results during the third quarter," adding, "The popularity of Porsche products as a modern luxury brand remains high worldwide, but concerns about parts supply restrictions that could affect vehicle delivery times persist."

Looking at sales by region, growth was notable in the European market, which delivered a total of 42,204 vehicles, an 11% increase compared to the previous year. In Germany, 20,850 vehicles were sold, a 9% increase. In the largest single market, China, 68,766 vehicles were delivered, a 1% decrease compared to the previous year. The performance decline caused by several months of lockdowns was largely offset in this third quarter. In the North American market, 56,357 vehicles were sold, a 4% decrease compared to the previous year. The performance drop due to logistics disruptions in the first quarter was significantly recovered thanks to increased sales in the third quarter.

By product, the company’s SUV models drove demand. The Cayenne recorded the highest demand with 66,769 units sold, followed by the Macan with 59,604 units delivered. The iconic Porsche sports car 911 continued its upward trend with a 9% increase, selling 30,611 units, while the Panamera delivered 25,452 units. The Taycan, affected by supply chain bottlenecks and parts procurement difficulties, sold 25,073 units, a 12% decrease, but customer order backlogs remain high. The 718 Boxster and 718 Cayman delivered 14,003 units.

Detlev von Platen emphasized, "We plan to focus on improving performance in the fourth quarter of this year through thorough preparation to be fully ready for external factors and uncertainties."

This content was produced with the assistance of AI translation services.