Porsche Cayenne becomes the brand’s bestselling car in 2022 Q1

Porsche Cayenne became the best-selling model in the first quarter as 19,029 units of the model were delivered to customers.

By: HT Auto Desk
Updated on:
08 May 2022, 12:35 PM

Photo file of Porsche Cayenne Turbo GT.

Porsche announced the financial results for the first three months of 2022. Porsche shared both its sales revenue and its operating profits have grown compared to the first quarter of the previous year. Porsche’s sales revenue grew from 7.73 to 8.04 billion euros along with operating profits that increased from 1.26 to 1.47 billion euros. Porsche shared the return on sales also improved from 16.2 to 18.2 percent.

Porsche stated it achieved revenue growth despite a fall in deliveries of 5 percent compared to the previous year. In the first quarter, Porsche delivered about 68,426 vehicles to customers. Porsche Cayenne stood out as the bestselling model as 19,029 units of it were sold followed by the Porsche Macan of which 18,329 units were sold. The fully-electric Taycan became the third most popular model as 9,470 units of it were sold in the first quarter.

(Also read | Porsche bets big on lithium-silicon batteries for future EVs)

Porsche shared that despite global challenges the company remains to be on the track. Deputy Chairman and Member of the Executive Board responsible for Finance and IT at Porsche AG Lutz Meschke said “In the first quarter, Porsche benefited in particular from a strong sales mix, disproportionate growth in the other business segments and positive currency effects. Due to many external challenges that we cannot influence, it is difficult to provide an outlook. Nevertheless, we are aiming for a return on sales of at least 15 percent in the financial year 2022. “

(Also watch | Porsche Taycan sets Guinness World Record for making 69 consecutive donuts)

Chairman of the Executive Board at Porsche AG Oliver Blume shared the sports car manufacturer’s electrification plans are showing positive results. “About 23 percent of all vehicles delivered were electrified – and 14 percent were fully electric,” added Blume. By 2025, Porsche aims to sell half of its products as either fully electric or plug-in hybrid vehicles. By 2030, the proportion of all new Porsche vehicles with an all-electric powertrain is expected to total more than 80 percent, added the brand.

First Published Date: 08 May 2022, 12:35 PM IST


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