Porsche Stumbles in China and Europe — But Sets Sales Record in North America
By Team Dailyrevs April 10, 2025
Porsche’s Q1 2025 sales report reads like a tale of two continents. While China and Europe slump into double-digit decline, North America just delivered a record quarter — and possibly the last big one before tariffs bite harder.
Porsche’s Q1 2025 sales dropped 8% globally, with China falling 42% and Germany down 34%.
North America posted a record-breaking quarter, driven by strong demand for Macan, Cayenne, and Panamera.
Electric Taycan lags in growth as Porsche faces intensifying pressure from Chinese EV competitors.
Global Headwinds, Local Freefall
Porsche’s global vehicle deliveries dropped by 8% in Q1 2025, totaling 71,470 units. For a brand that thrives on aspirational desirability, this isn’t just a miss — it’s a warning shot.
The damage? Severe in Porsche’s two largest non-U.S. markets:
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China: Down 42%
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Germany: Down 34%
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Rest of Europe: Down 10%
That’s not a blip — it’s a regional collapse. Porsche attributes the China decline to a “tense economic situation” and a shift toward “value-oriented sales,” but the reality is simpler: Chinese EV makers are now luxury threats. And Porsche’s product roadmap — especially its Taycan — is showing its age.
To underscore the crisis, Porsche has already fired its China leadership team. Matthias Becker, formerly in charge of growth markets, has been parachuted in to fix it. Good luck.
Porsche Q1 2025 Sales Breakdown
| Region | Q1 2024 Units | Q1 2025 Units | % Change |
|---|---|---|---|
| Worldwide | 77,640 | 71,470 | -8% |
| China | 16,340 | 9,471 | -42% |
| Germany | 11,274 | 7,495 | -34% |
| Europe (ex. Germany) | 20,044 | 18,017 | -10% |
| North America | 15,087 | 20,698 | +37% |
| Emerging Markets & Others | 14,895 | 15,789 | +6% |
North America: Porsche’s Last Fortress
Now for the good news: North America delivered Porsche’s strongest Q1 in history. Up 37% year-on-year, sales surged to 20,698 units — driven by strong demand across nearly all models. The Panamera was the standout, with 184% growth, while the Macan and Cayenne also posted big double-digit gains.
The Taycan? That’s a different story. Down 18%, the electric flagship is now the weakest link — ironic for a brand pushing electrification as its future.
| Porsche Model (US Sales) | Q1 2024 | Q1 2025 | % Change |
|---|---|---|---|
| 911 | 1,930 | 2,086 | +8% |
| 718 | 797 | 1,476 | +85% |
| Taycan | 1,247 | 1,019 | -18% |
| Panamera | 523 | 1,486 | +184% |
| Cayenne | 3,261 | 5,331 | +63% |
| Macan | 5,671 | 7,486 | +32% |
| Total US Sales | 13,429 | 18,884 | +40.6% |
Tariffs Loom — and So Do Rivals
This Q1 high might be Porsche’s last clean quarter in the U.S. before new tariffs on Chinese-manufactured components (and potentially full EVs) distort supply chains and pricing strategies. Luxury brands like Porsche and Ferrari are particularly exposed.
But there’s a twist. Analyst Rella Suskin puts it plainly:
“Their superior pricing power and the positive effect that price increases have on the residual values of their customers’ existing cars reduce the overall impact of tariffs on their financials.”
Translation: Porsche can raise prices without losing the core buyer. But that only holds as long as the product remains compelling — and that’s now under threat from EV upstarts like BYD, Nio, and Denza, especially in China and soon in Europe.
What’s Really Going On
Let’s be brutally honest. Porsche’s global sales decline isn’t just about the economy or tariffs. It’s about relevance. The EV space is moving faster than Stuttgart is adapting. The Taycan is no longer leading the charge — it's being outrun. And while ICE loyalists are still snapping up 911s and Macans in North America, Porsche's dependence on heritage models won’t cut it in emerging markets where buyers are younger, tech-savvier, and less brand-loyal.
This is a pivotal year. Porsche must evolve — fast — or watch its dominance erode from the outside in.