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At Porsche, electric faith falters

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At Porsche, electric faith falters

Made in 2019, the decision to offer the next generation of the Macan only in an all-electric version surprised many, even within Porsche itself. This serious decision – this SUV of reasonable dimensions is one of the German manufacturer’s best sellers – demonstrates the commitment to an energy transition carried out at full speed. An act of faith that allowed him to move forward and drag the rest of the automotive elite behind him.

Today, when marketing of the new Macan begins, it is not at all certain that Porsche is going to make such a radical decision. The Stuttgart brand admits to having overestimated the demand for electric motors during the last period. During the first nine months of 2024, its deliveries fell 7%. Sales of the Taycan, a majestic four-seater coupe that inaugurated the company’s arrival in the world of low-carbon sportsmanship, were especially affected. Despite a major renewal of its main models, operating profit (4 billion euros) fell 27% in the first three quarters and the margin fell from 16.3% to 14.1%.

These figures, to which we are hardly accustomed in Zuffenhausen, the historic headquarters, have done more than scratch the electric convictions of the brand. It did not take long to react by announcing that it no longer planned to market 80% of its electricity production between now and 2030, as initially planned. It is true that currently this proportion is around 13%. Result: the upcoming launches of battery models (Cayenne, 718 coupé) are maintained, but the manufacturer has decided to prolong the commercial run of the versions with hybrid motors of the Cayenne SUV and the Panamera sedan. In the medium term, it will also not stop equipping future vehicles planned as fully electric with a hybrid engine.

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However, it is not about giving in to panic. “Considering a hybrid thermal variant of the new Macan would take four to five years; “It would be taking too big a risk considering how the market could be at that time.”says Marc Meurer, CEO of Porsche France. For the company it is about negotiating a sharp turn, because the electric credo of the brand, which for a long time was the most profitable in the world, is being undermined on all continents.

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