Porsche suffers worst sales decline since 2009 as China collapses and EV pivot backfires
Jan 19, 2026
Key Points
- Porsche's 2024 sales fell 10% to 280,000 vehicles, the steepest decline since 2009, after botching an EV transition and losing half its China market share in two years.
- The company halted petrol Macan and 718 sales in Europe over failed cybersecurity compliance, then abandoned EV replacements mid-year when demand signaled consumers wanted combustion engines.
- China sales collapsed 26% year-over-year as Chinese EV makers undercut Porsche's pricing and positioning with cheaper, feature-rich alternatives that appeal to domestic preferences.
Summary
Porsche's sales fell 10% in 2024 to 280,000 vehicles from 310,000 the year before, marking the sharpest decline since the 2009 financial crisis. Two strategic failures drove the collapse: a botched EV transition and a catastrophic loss of market share in China.
Porsche stopped selling petrol versions of its bestselling Macan and 718 models in Europe after failing to meet EU cybersecurity regulations, then chose not to develop compliant replacements. The supply gap arrived just as demand was swinging back toward combustion engines, not electrics. The company reversed course mid-year to emphasize petrol and hybrid variants while shelving new EV plans. By then the damage was done.
China represents a deeper crisis. Porsche sold 41,000 vehicles there in 2024, down 26% from the prior year and less than half the 80,000 it sold in 2022. European luxury carmakers face growing competition from Chinese brands that have saturated the market with cheaper, feature-rich alternatives. Chinese EV makers with dramatic performance specs (0-60 in two seconds) undercut Porsche's positioning on pure economics. Domestic preference for homegrown champions compounds the problem.
North America held relatively steady despite announced tariff increases, declining only a few hundred units. Germany fell 16% and Europe dropped 13%, suggesting supply shortages hit home markets hardest.
New CEO Michael Lütter inherits a company in restructuring mode with production capacity cuts and union negotiations over further savings underway. Porsche emerged from 2008-09 with sustained 20% plus growth for five straight years. The last decade slowed but remained positive until now. This reversal is severe.