Porsche AG Closed Out A Successful 2023 Financial Year

The German company's revenue for the previous year increased 7.7% from 2022 to €40.5 billion. Profit was €7.3 billion of that, almost the same increase from year to year.

That increase comes despite what Porsche refers to as “disruptions to global supply chains, significant inflation and exceptionally high investments in digitisation, product and innovation portfolios and the brand experience”.


Porsche's record 2023 delivery total of 320,221 vehicles was the result of a "more balanced" distribution of sales throughout the globe, following a decline in demand from its largest market, China, in 2022.

With 79,823 sales in 2023, down 15% from 2022, China's sales continued to decline, making North America the brand's largest market with 86,059 sales.

Since China has a strong preference for electric premium SUVs, the launch of the new Macan EV in the upcoming months is widely considered as essential to strengthening the brand's position in that country.
The introduction of the new Macan, which was postponed by almost a year because of issues at Cariad, the software division of the Volkswagen Group, is particularly significant in Europe because the popular ICE Macan will soon be discontinued due to new regional software regulations. But it will still be accessible in the UK.

Porsche CEO Oliver Blume provided a cautious forecast for the company's financial performance in 2024 due to a significant new model investment program and a number of "headwinds" in the market. He estimated revenue of €40–42 billion and margins of 15%–17%, which would be lower than analysts' expectations of 18% in 2023.

"We expect strong headwinds given the global economic conditions," he said, but added: "We are convinced that our exclusive range of new vehicles will continue to 

bring our margins up further. We are pushing ahead with our road to 2030 programme."