Thermal or electric, Porsche does not know the crisis

The top of the range seems to have withstood everything for a few years. Favored by parts deliveries, Porsche is doing well and is experiencing its electrification without any problems.

In the midst of a pandemic, there was one constant in reading automotive numbers: Luxury cars like the Porsche were doing more than resisting while the rest of the ranges were in serious contraction.

Privileged in the delivery of parts within the Volkswagen group, Porsches continued to leave the factories at a much faster pace than other brands.

In the same vein, the luxury car maker Lamborghini, another subsidiary of the Volkswagen group, has already pre-sold its entire production until early 2024.

Take Europe (European Union with Norway, UK, Switzerland, Liechtenstein and Iceland). In the first 8 months of 2022, Porsche registered 53,990 cars there. In the same period of 2019, that is, before the pandemic, Porsche registered 48,528 cars.

This while the Volkswagen group’s records in the same area in the same period are displayed at 1.14 million units less compared to the same period in 2019.

considerable funding

That is, in the first 8 months of the year, one in every 142 cars registered in Europe was a Porsche. In Belgium it is even a little over a car registered in 100 that is a Porsche.

In 20 words as in 100, Porsche is doing well. Using the iconic brand to raise funds seems judicious in this regard. In addition to the considerations of the Porsche-Piëch family with its IPO (see opposite), the Volkswagen group intends to capitalize on the success of the sports brand.

89

billions of euros

In the Volkswagen group’s investment plan, €89 billion will be invested in electric cars and software over 5 years, which represents 54% of the group’s total investments.

The automotive group needs considerable funding. €89 billion over the next five years will be invested by the VW group in electric vehicles and their software in a global investment plan of 159 billion euros, i.e. more than the GDP of Wallonia or the Brussels Region (respectively 108 billion and 86 billion in 2019 before the pandemic).

In fact, electrification is a wave of the automotive industry imposed by legislation and the desire to pollute less. No manufacturer can save an ambitious plan in the electricity sector. Gigafactorys start popping up across the continent and dozens of projects are announced.

Denounced by some as a job destroyer, the electric vehicle could finally also make local production possible. The question will be how fast European industry can switch to electricity. The automobile being a long value chain with many suppliers and partners.

40% of sales in Belgium

Porsche has already proven it can embark on the electric vehicle path without much difficultys with its first 100% electric vehicle in the range, the Taycan.



“In Belgium, now that the Taycan exists in all its versions, whether sedan, GTS or cross touring, it represents 40% of our sales.”

Catherine Vangel

Porsche Belgium public relations manager

“In Belgium, now that the Taycan exists in all its versions, whether sedan, GTS or cross-tourer, it represents 40% of our sales”, explains Catherine Van Geel, PR Manager Porsche Belgium at D’Ieteren Auto.

The iconic 911 still accounts for between 35 and 40% of sales, but Catherine Van Geel estimates that even the most inclined customers towards internal combustion engines are often seduced by an electric Porsche once they have it in their hands.

This is good, because Oliver Blume, the new head of the Volkswagen group in addition to continuing to lead Porsche, claims to be a big fan of electromobility and wants to go even faster with 80% of electric Porsches in the brand’s sales in 2030 .

In Belgium, as elsewhere, Porsche’s electric future is not scary.

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