Porsche's sales in China fell by 20% to 7,519 cars, meaning the company now sells more vehicles in Germany than in China, which was previously its most important market. Compared to the sales peak following the COVID-19 pandemic downturn in Q3 2022, when 28,085 cars were sold, current figures have dropped by 73%. Additionally, Porsche's sales in the US also declined in the first quarter of this year. The company attributes this to the high comparison base from last year when its electric vehicles were launched, coupled with the termination of electric vehicle purchase incentive programs. Consequently, German luxury sports car maker Porsche saw its sales decrease in the first quarter of this year amid falling sales in China and slowing demand for electric vehicles in the US. Porsche stated in a release yesterday that its global sales volume decreased by 15% in the first quarter, reflecting a broader trend of declining pricing power for European luxury carmakers in the world's largest automotive market.
