Porsche has just forewarned that it will take longer to achieve its original ambitious electric vehicle goal, Reuters reports, citing the German sports car maker’s statement on Monday.
Porsche withdraws 80% EV goal by 2030 amid waning demand
Porsche is scaling back its target to have electric vehicles account for 80% of its overall sales in 2030.
“Our product strategy is set up such that we could deliver over 80% of our vehicles as all electric in 2030.”
Porsche
While the German brand could still hit its 2030 target with its product strategy, it admitted that the goal was too ambitious. It also noted its achievement of the said target would depend on the market and customer demand.
Therefore, Porsche conceded that its electric vehicle transition “will take longer than we assumed five years ago.”
Porsche’s declining EV sales
Porsche is not the only automaker that has delayed or canceled its electric vehicle plans. American legacy automakers like Ford and General Motors & German legacy brand Mercedes-Benz, and several others have announced similar withdrawals due to “slower-than-expected” demand.
For context, Porsche’s electric vehicle sales dropped by a whopping 51% in the first six months of 2024 before its new models hit the market.
Despite the decline in sales, Porsche CEO Oliver Blume remains optimistic about launching what it calls the “most powerful range” in the brand’s history.
Model launches
Porsche already rolled out four new electrified vehicle models in 2024. The lineup includes the new 2025 Taycan, featuring extended range, more performance, and faster charging speed.
The new Panamera and hybrid 911 were also in the product lineup. The fourth model is apparently the all-electric Macan.
The first Macan Electric hit the production line at the company’s existing Leipzig factory in Berlin in May. Porsche plans to kick off customer deliveries in H2 2024.
CEO Blume proudly disclosed that Macan Electric “recorded a very pleasing order intake.”
Porsche expects these new offerings to help boost its sales in the coming quarters. As the Porsche boss noted, the brand is currently in a “V-shaped” sales cycle, with more models launching soon.
For instance, Porsche aims to roll out an electric 718 after the Macan Electric, with a debut set by the end of the year. It also plans to unveil the electric Porsche Cayenne in 2026. Moreover, it will introduce a range-topping electric seven-seater codenamed “SUV K1.” This upcoming model is expected to challenge ultra-luxury players like Ferrari’s Purosangue.
All that said, Porsche can still achieve its ambitious 2030 electric vehicle sales target. However, Porsche seems to be withdrawing its commitment, considering the waning demand this year.
