Last year, when Porsche provided 2017 guidance, the outlook was stable. They weren't expecting to lose ground, but they weren't really expecting to gain ground either. With last week's 3rd quarter numbers released we can see that while they aren't blowing their forecasts out of the water, they are gaining. Thanks in part to the succussful release of the new Panamera (deliveries are up 73% over last year to more than 19,000 vehicle) and the continued success of the Macan, Porsche's overall deliveries are up 4% year-over-year.
“We are optimistic that the 2017 figures will surpass the high levels of the previous year. We owe this to the fact that we are offering the most attractive product range that Porsche has ever had”, explained Detlev von Platen, Member of the Executive Board responsible for Sales and Marketing at Porsche AG. “The new Panamera is able to satisfy high expectations and reaffirms our product strategy based on the hybrid version as the top model”, says von Platen. “At the moment, every fourth Panamera delivered is a hybrid model. And we are now gaining ground with the new Cayenne.”
China continues as Porsche's largest single market and the largest driver of growth geographically. In recognition of the importance of this market, Porsche plans to construct an Experience Center in Shanghai. Overall, China had 54,090 deliveries or an increase of 10% over last year.
In Europe, Porsche delivered 60,838 units (up 4%) in the first three quarters of the year. In the company's home market of Germany, a total of 21,880 vehicles were handed over to customers, which is almost equal to the high level achieved the previous year. Porsche continued its success story in the USA, with 41,237 deliveries equating to an increase of 2%.