Sales of Porsche cars in the world's largest car market fell by 15% in 2024, and since the beginning of this year - by an already catastrophic 28%, which is a record low (less than 57,000 cars sold).
Experts say that the main culprit for the decline in sales in the Chinese market is increased competition from rapidly developing Chinese automakers.
Brands like Xiaomi offer cars with comparable levels of technology and comfort, but at a much more attractive price. This attracts not only the middle class, but also those who previously preferred premium European brands.
The situation is also aggravated by external factors. Geopolitical instability and a potential deterioration in trade relations between China and the West are putting additional pressure on the German automaker.
Uncertainty about the future economic climate is making potential Porsche buyers in China question the wisdom of buying an expensive car in an uncertain economic environment.
Porsche's response to the crisis is unconventional. Oliver Blume, the company's CEO, stressed that it is not considering leaving the Chinese market. Instead, the focus will be on three pillars.
These will be: personalization, digital technologies and exclusivity. The plan is to limit production volumes, creating artificial shortages and thus maintaining the cars' premium status and high price.