by SONG Jianan
Porsche said on Friday its global vehicle deliveries fell 10% in 2025, dragged down by a sharp decline in China.
Deliveries in China dropped 26% year on year to 41,938 vehicles, accounting for most of the global decline. Porsche said the fall reflected a tougher environment for luxury brands and intensifying competition, particularly in electric vehicles, adding it would continue to priorities value over volume in the market.
Rising competition from local new-energy brands, which have improved rapidly on technology and pricing, has added pressure on established premium marques. Consumer demand has also become more fragmented, intensifying competition in electric models.
Porsche's China business also faced dealer disruptions late last year after two outlets in Zhengzhou and Guiyang closed abruptly, prompting complaints from customers and staff. Porsche China said it led talks with banks to safeguard customer interests and revoked the dealers' authorization. The company has since announced plans to streamline its dealer network, aiming to cut sales points to about 80 by the end of 2026 from around 150.
Outside China, performance was comparatively steadier. North America, Porsche's largest market, delivered 86,229 vehicles in 2025, broadly flat from a year earlier. Deliveries in Europe excluding Germany fell 13% to 66,340, while Germany declined 16% to 29,968, which Porsche attributed to supply gaps for the 718 and petrol-powered Macan following new EU cybersecurity rules.
By model, the Macan remained Porsche's best seller, with deliveries rising 2%, helped by the rollout of its all-electric version. The 911 posted a 1% increase, setting a record, while most other core models, including the Taycan, Cayenneand Panamera, recorded declines.
Electrified vehicles accounted for 34.4% of Porsche's global deliveries in 2025, including 22.2% fully electric and 12.1% plug-in hybrids, bringing the battery-electric share to the upper end of the company's 20%–22% target range.
After several years of record sales, Porsche had expected deliveries to decline in 2025, executive board member Matthias Becker said, adding the group would manage supply and demand with a clear focus on value rather than volume. With petrol versions of the 718 and Macan being phased out, Porsche said it would take a pragmatic approach to sales planning in 2026.
