At Porsche’s recent annual general meeting, Oliver Blume, chairman of the executive board, said the company’s ambition of having electric vehicles (EVs) make up more than 80% of its total sales by 2030 (announced back in March 2022) is not realistic.
In his speech, Blume first talked about the difficulties that Porsche is facing in light of a dip in sales last year which saw 310,718 units delivered to customers compared to 320,221 units (-3%) in 2023. “Last year, we were already facing massive headwinds. Now we are experiencing a fierce storm. But our position to weather the storm is rock solid. The overall economic and geopolitical situation is highly dynamic and very volatile. And more difficult to calculate than ever before,” he said.
“The ramp-up of electromobility has slowed considerably. Our market in China has literally collapsed. In addition, trade conflicts and unstable supply chains are driving up costs. We have increasing regional regulation. And high expenditure on flexible drive types and products undergoing transformation. In addition, the US import tariffs are now weighing on business – as is the uncertainty as to how this issue will continue,” he continued.
The decline has continued into 2025 as well, with Porsche announcing in April that it sold 71,470 units in the first three months of the year, which is 8% down from the 77,640 units in the same corresponding period in 2024.
Sales of the brand’s first mass-produced EV, the Taycan, have declined in recent times too. In its first full year of sales in 2020, 20,015 units of the Taycan were sold, which was then followed by substantial increase to 41,296 units a year later in 2021. The EV continued to post strong numbers in 2022 (34,801 units) and 2023 (40,629 units), but it experienced a significant drop to just 20,836 units in 2024. In Q1 2025, sales of the Taycan hit 4,203 units, down 1% from the same corresponding period in 2024.
In light of these results and ever-changing environment, Blume said Porsche will take a “balanced approach” that will see it continue to pursue its electrification strategy while also “expanding its range of combustion engines and hybrids with additional models.”
“Of course, this has an impact on the BEV ramp-up overall. Our goal was to deliver more than 80% fully electric sports cars by 2030. One of the most ambitious goals in the entire industry. Our product strategy would still allow us to achieve this. In view of market developments, it is not realistic. Our BEV ramp-up will therefore adapt flexibly. To demand and market developments,” said Blume.
“In 2024, 27% of the vehicles we delivered were electrified. This means electric vehicles or plug-in hybrids. The pure BEV share was around 13%. In the first quarter of 2025, well 38% were electrified. Of these, almost 26% were purely electric,” he continued, adding that the latest Macan Electric contributed strongly to the result, with a total of 18,278 units delivered in 2024 and 14,185 units just in Q1 2025.
As for the state of the Porsche line-up, Blume said four-door models such as the Cayanne and Panamera will continue to be offered with combustion and hybrid powertrains well into the 2030s. The upcoming fourth-generation Cayenne will live alongside its ICE sibling, just like with the Macan range.
Blume also indicated a new model series in the SUV segment that could come to market near the end of the decade, also with combustion and hybrid drive. In the medium term, customers can look forward to a fully-electric sports car in the 718 segment.
“Nevertheless, the ramp-up is slower than originally planned. That is why we have once again carefully analysed our own battery activities. And reacted consistently and decisively. As you know, we had planned to expand our production capacities for high-performance battery cells with the Cellforce Group. We will no longer be pursuing these plans independently. This is because the expected sales volumes have been significantly reduced,” Blume noted.
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