Monday 13th March 2023

Porsche caps record year with EV confirmation

Of course the next Cayenne will be electric. But Porsche reiterates its pursuit of 'new sports car concepts' too

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Porsche capped a record sales year - and the biggest IPO in Europe - by confirming that its ambitious electrification strategy will continue to pick up speed beyond the introduction of the all-electric Macan. As expected, the heavily previewed model will be available to customers next year, but the manufacturer took the opportunity during its annual press conference to confirm that an all-electric Cayenne will follow. Thanks to the model’s enduring popularity (it was the best-selling model in 2022) its launch is cited as a major step forward in Porsche delivering on its goal of making 80 per cent of its new vehicles EVs by 2030. 

Accordingly - and on the basis that an updated Cayenne is due this year - the fourth-generation, all-electric model probably won’t be with us till 2026. In the meantime, Porsche has reiterated its intention to introduce the new, zero-emission 718 by ‘the middle of the decade’, and suggested that it would be only available as an all-electric model in the ‘medium term’. That potentially leaves the door open for later, combustion-engined derivatives to appear ahead of the 2030 cut-off, and it’s worth noting the manufacturer underlined its preference for more special edition models in the Road to 20 strategy. 

“We are expanding our product portfolio with new sports car concepts. We will also continue to focus on limited editions and expand our Sonderwunsch programme in the future. We want to accommodate the desires and lifestyle of our customers even more than we do already, exceeding their expectations time and again,” said Oliver Blume, Chairman of the Executive Board. ‘Sonderwunsch’, of course, refers to the special request wing of Porsche Exclusive Manufacture and Porsche Classic, and is responsible for taking ‘personalisation to the highest level’. So expect to see more cars like the one-off 911 Classic Club Coupe in the very near future. 

Road to 20 refers to Porsche’s long-term profit goals. “In the long run, we are aiming for a Group operating return on sales of more than 20 per cent,” noted Lutz Meschke, the firm’s deputy chairman. Doubtless, that is intended to make its new shareholders feel all warm and fuzzy, and with a range-topping, 'K1' seven-seat SUV waiting in the wings, it would be tough to argue with the direction Porsche is headed in having already delivered an 18 per cent return on full year sales of 309,884 units. Now we just need to see how the firm plans to properly celebrate 60 years of 911. Watch this space. 

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• Porsche builds one-of-one 911 Classic Club Coupe
• GT3 homage to 956 launches Porsche Sonderwunsch

[Iamnotkloot]

Good for Porsche but this statement 'Doubtless, that is intended to make its new shareholders feel all warm and fuzzy' doesn't stand up when you look at the share price for the last year (26% loss)

[romac]

article said:

Porsche delivering on its goal of making 80 per cent of its new vehicles EVs by 2030

So, are the other 20% going to be powered by synthetic hydrocarbon fuels then?

[Wab1974uk]

God knows how they've had record sales. Deliveries are at record lengths

I pick up my new Macan within the next couple weeks. Was told by the dealer I can leave a deposit on a new Macan when I pick up my new car. They can move my build slot so I get a new car when I want one.

As the next Macan will be EV, and no doubt way more expensive, I said I'll pass.

[redroadster]

Electric porsches don't interest me and I think there business will slide in future .pity.

[Gad-Westy]

romac said:

article said:

Porsche delivering on its goal of making 80 per cent of its new vehicles EVs by 2030

So, are the other 20% going to be powered by synthetic hydrocarbon fuels then?

Hybrid seems more likely. Or maybe just plain old ICE for markets that will allow them.

[Bobtherallyfan]

Iamnotkloot said:

Good for Porsche but this statement 'Doubtless, that is intended to make its new shareholders feel all warm and fuzzy' doesn't stand up when you look at the share price for the last year (26% loss)

Tesla share price is down 32% in the same period.

[Xfe]

Perhaps we should stop referring to the 2030 cut-off, as it seems politicians are finally seeing sense and are open to non-EV solutions.

[TheGinger1]

Porsche will impose “significant price increases” on its cars in the middle of this year to keep its profits high, its chief financial officer has told investors

Edited by TheGinger1 on Monday 13th March 20:46

[Robertb]

Bobtherallyfan said:

Iamnotkloot said:

Good for Porsche but this statement 'Doubtless, that is intended to make its new shareholders feel all warm and fuzzy' doesn't stand up when you look at the share price for the last year (26% loss)

Tesla share price is down 32% in the same period.

Also, there are different share classes. The one which was IPOd last year is up 32%.

The one you’re looking at (Porsche Automobil) is a holding co inc VW.

The whole thing is a weird family structure.

It will however be interesting to see how they get on in this financial year now that interest rates have gone up. I read in the Porsche Club GB magazine that there have been lots of cancellations in the UK as PCPs are significantly less affordable.

Edited by Robertb on Monday 13th March 22:51

[Jon_S_Rally]

romac said:

So, are the other 20% going to be powered by synthetic hydrocarbon fuels then?

Hybrids in a lot of cases I suspect. And traditionally fueled cars will have a place outside Europe for some time yet.

[Darnoc95]

Most car makers are posting huge losses at the moment but its not all as it seems. They are all heavily investing in electrification manufacturing which is a massive change in production techniques. This is why the cost of EV's are so expensive. Just hope when things settle down we get some affordable EV's coming through, as things are going i can see the cheapest car in the UK starting at above £35K by 2030 & probably £40K by 2035. Cheapest new Porsche by then probably in excess of £100K!!

[Roma101]

Robertb said:

Bobtherallyfan said:

Iamnotkloot said:

Good for Porsche but this statement 'Doubtless, that is intended to make its new shareholders feel all warm and fuzzy' doesn't stand up when you look at the share price for the last year (26% loss)

Tesla share price is down 32% in the same period.

Also, there are different share classes. The one which was IPOd last year is up 32%.

The one you’re looking at (Porsche Automobil) is a holding co inc VW.

The whole thing is a weird family structure.

It will however be interesting to see how they get on in this financial year now that interest rates have gone up. I read in the Porsche Club GB magazine that there have been lots of cancellations in the UK as PCPs are significantly less affordable.

Edited by Robertb on Monday 13th March 22:51

Yeap. The APR rate at the moment on new cars is crazy - nearly 11%, at least on some models.

[Marcus_12345678]

"Hybrid seems more likely. Or maybe just plain old ICE for markets that will allow them."

Like the EU! It's only the UK that thinks it's going to ban ICE by 2030: it's not going to, because the manufactures are all aiming for 2035.

[endorium]

redroadster said:

Electric porsches don't interest me and I think there business will slide in future .pity.

You have seen the Taycan tight? They cant build them fast enough. Have a go in one, it destroys any notion electric is boring. Its an amazing car.
I see the complete opposite to you, they are leading the charge now (pun intended), they will only grow and take bigger market share.

[endorium]

romac said:

So, are the other 20% going to be powered by synthetic hydrocarbon fuels then?

Synthetic isn't realistic for 20% of sales, its too expensive. Hydrogen would be my bet. In three years the cost of making it has dropped as more renewable energy sources are used to create it. Needs infrastructure but 7 years is a long time.

[galwaytt]

endorium said:

You have seen the Taycan tight? They cant build them fast enough. Have a go in one, it destroys any notion electric is boring. Its an amazing car.
I see the complete opposite to you, they are leading the charge now (pun intended), they will only grow and take bigger market share.

I've seen the Taycan, and it is one I'd buy. But the same platform wearing the Audi badge looks so much better.

That said, I'd still prefer a 2-door sports car, cabrio. And whilst EV would be nice, a hybrid would be far more useful imho. They really need to get a move on on that becuase the EU is closing the door on ICE in just over 10 years, so the clock is ticking............

[Johnny G Pipe]

Well, we've had the electric SUVs and ubersaloons, but there is a surely a whole new untapped era ahead of us - the electric sportscar - which might be increasingly niche, but Porsche are surely the men/women for that particular job. Especially if they keep going well in Formula E..

Having driven a Taycan, the idea of an electric Cayman is pretty promising TBH.

[JD]

Johnny G Pipe said:

Well, we've had the electric SUVs and ubersaloons, but there is a surely a whole new untapped era ahead of us - the electric sportscar - which might be increasingly niche, but Porsche are surely the men/women for that particular job. Especially if they keep going well in Formula E..

Having driven a Taycan, the idea of an electric Cayman is pretty promising TBH.

https://www.autoexpress.co.uk/porsche/boxster/107818/pure-electric-porsche-718-boxster-spied-testing-again?amp

With the EV Boxster already well on the way, a Cayman equivalent doesn’t seem too far fetched.

[Robertb]

endorium said:

romac said:

So, are the other 20% going to be powered by synthetic hydrocarbon fuels then?

Synthetic isn't realistic for 20% of sales, its too expensive. Hydrogen would be my bet. In three years the cost of making it has dropped as more renewable energy sources are used to create it. Needs infrastructure but 7 years is a long time.

My guess is the other 20% is just plain old fossil fuel powered cars. Not all markets will be banning ICE.

Synthetic fuel will be a niche, possibly for GT series and specials (assuming they find an exemption for e-fuel powered cars to be sold in EU), and be available for those who wish to run their ICE classics if all goes to plan.

I can't really see hydrogen as a runner for cars due to the infrastructure required and the focus on EV. More likely for trucks and agriculture/construction.

[nevillecarpenter]

Have they fixed the battery problems? it is ok selling electric cars but they are no good when you cannot drive them due to the problems they are having with their batteries..