Porsche Taycan sales drop in Q1 2023 as supply chain issues persist

Porsche halts Taycan production in Stuttgart, Germany (Credit: Porsche)
Credit: Porsche

Porsche has released its numbers for Q1 2023, and while overall sales increased for the German automaker, sales of the Taycan dropped year-over-year (YoY) with supply and production issues to blame.

The luxury brand offers fewer EV models, but it has always been known as a low-volume manufacturer. Despite this, sales increased in the first quarter of 2023 as Porsche sold 80,767 vehicles globally. Out of this, the Taycan, Porsche’s sole electric car, accounted for 9,152 units. However, this was a drop of 3% compared to the same time period last year. Porsche attributed the decrease to persistent supply chain issues which limited production.

Porsche, however, is happy with the result. Detlev von Platen, Executive Board Member for Sales and Marketing, said, “We are pleased with this outstanding result. It shows the strong demand for our products and the strength of our brand. It’s particularly pleasing that we were able to post gains in every sales region – in spite of the still volatile economic situation and limited parts availability.”

Breaking down the figure by region, Porsche sold 18,420 vehicles in Europe (18% growth YoY), 21,365 units in China (21% YoY), and 19,615 units in North America (30% YoY).

In Canada, Porsche reported total sales of 2,211 units, a 4% YoY increase. However, only 131 were Taycans, a dip from 141 in the same period in 2022. But it grew its Approved Certified Pre-Owned business to 788 units, an increase of 16%.

Porsche beat out competition from fellow German brands, including Mercedes, Audi, and BMW with these figures. It is also likely that the Taycan outsold the Tesla Model S for the first time, thanks to the dip in sales on the Model S and Model X.

Porsche, however, has increased the prices of the Taycan for the 2024 model year.

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