Porsche defies industry gloom, expect big things from Tesla rival - TechCentral

Porsche defies industry gloom, expect big things from Tesla rival

The new Porsche Taycan

Porsche shrugged off widespread industry malaise, reporting record deliveries for last year and predicting that its first all-electric model Taycan will foster further growth in 2020.

Global deliveries rose 10% to 280 800 cars in 2019, driven mainly by strong consumer appetite for the Macan and Cayenne sport utility vehicles, Porsche said on Monday in a statement.

“We’re optimistic that we can sustain the high demand in 2020,” sales chief Detlev von Platen said in the statement. Sales momentum should benefit from “the introduction of some new models and full order books for the Taycan,” he said.

The most profitable division of Volkswagen, the world’s largest automaker, is entering a new era with this year’s roll-out of the Taycan four-door sedan, which challenges Tesla’s Model S. Porsche’s cachet has been shaped for decades by fast sports cars with roaring combustion engines, and success of the costly expansion into electric cars is mission critical for the German manufacturer amid stricter emission regulations in key markets.

Sales rose 8% last year in both China and the US, Porsche’s two largest markets. It sold 86 752 cars in China, where luxury rides have been less affected by the waning demand hurting the overall market, and 61 568 cars in the US. In Germany, sales advanced 15% to 31 618 vehicles.  — Reported by Christoph Rauwald, (c) 2020 Bloomberg LP

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