Porsche 2023 financial report announced: revenue and sales increased, while the decline in the Chinese market attracted attention

News on March 13, Porsche recently announced its full-year financial report for 2023, revealing the company’s performance in the past year. According to financial report data, Porsche achieved revenue of 40.5 billion euros in fiscal year 2023, a year-on-year increase of 7.7% compared with 37.6 billion euros in the previous year. At the same time, its sales profit also recorded a year-on-year growth of 7.6%, reaching 7.3 billion euros. In the automotive business, net cash flow was 3.973 billion euros.

In terms of sales, Porsche delivered a total of 320,221 new cars globally in 2023, achieving a year-on-year growth of 3.3%. This result was due to more balanced performance across sales regions. Obermau, Chairman of the Executive Board of Porsche, expressed optimism about this and pointed out that 2024 will be a big year for Porsche’s products, with more new cars than any year in history. He further revealed that Porsche will launch a series of exciting sports cars that will delight customers around the world and provide strong impetus for the company's future development.

However, in the Chinese market, Porsche's deliveries have declined. According to the editor's understanding, China, as one of Porsche's important markets, will deliver 79,300 vehicles in 2023, a year-on-year decrease of 15%. At the same time, North America replaced China as Porsche's largest single market, with 86,100 new cars delivered throughout the year, a year-on-year increase of 9%.

Facing the future, Porsche said they plan to launch a pure electric version of the 718 sports car in the middle of this decade (2020-2030), and then launch a pure electric Cayenne. In addition, Porsche also plans to launch a pure electric SUV positioned higher than the Cayenne model. This new concept car will be built on the SSP sports platform developed by Porsche and will be manufactured in Leipzig. These initiatives demonstrate Porsche’s ambitions in the field of electrification and are expected to inject new vitality into the company’s future development.

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