Porsche China Sales Plunge 21% in Q1, Down Over 60% Cumulatively in Three Years

Porsche delivered 61,000 vehicles globally in the first quarter of 2026, a 15% year-over-year decline. Deliveries in China totaled 7,519 units, down 21% year-over-year—the steepest drop among all global markets. Compared to 21,365 units in the first quarter of 2023, Porsche’s quarterly sales in China have shrunk by more than 60%. Since 2022, Porsche’s sales in China have declined for four consecutive years, with full-year deliveries falling from 93,300 in 2022 to 79,300 in 2023, 56,900 in 2024, and 41,900 in 2025—a year-over-year decrease of 2.5%, 15%, 28%, and 26%, respectively. Factors contributing to the sales decline include an imbalanced product portfolio, heavy reliance on internal combustion engine vehicles, delayed transition to new energy vehicles (NEVs), rising policy-related and compliance costs in China, marketing strategies failing to resonate with younger consumers, and intensifying competition from domestic premium NEV brands. Porsche China CEO Oliver Blume stated that the company’s strategy prioritizes “value over volume,” emphasizing brand appeal rather than sales figures.