Thermal or electric, Porsche does not know the crisis

The top of the range seems to have withstood everything for a few years. Privileged for the supply of parts, Porsche is doing well and experiencing its electrification without any problems.

In the midst of a pandemic, there was one constant when reading car figures: luxury cars like Porsche did more than resist, while the rest of the range was in serious contraction.

With privileged supply of parts within the Volkswagen group, Porsche continued to leave the factories at a much faster pace than other brands.

In the same direction, the luxury car manufacturer Lamborghini, another subsidiary of the Volkswagen group, has already pre-sold its entire production until the start of 2024.

Take Europe (EU with Norway, Great Britain, Switzerland, Liechtenstein and Iceland). In the first 8 months of 2022, Porsche registered 53,990 cars there. In the same period in 2019, i.e. before the pandemic, Porsche had registered 48,528 cars.

This while the registrations of the Volkswagen Group in the same area in the same period are shown to be 1.14 million units less compared to the same period in 2019.

Substantial funding

In other words, during the first 8 months of the year, one in 142 registered cars in Europe was a Porsche. In Belgium, it is even slightly more than one car registered in 100, which is a Porsche.

In 20 words as in 100, Porsche does well. Using the iconic brand to raise money seems sensible in this regard. In addition to the Porsche-Piech family’s considerations with its stock market listing (see opposite), the Volkswagen Group intends to capitalize on the success of the sports brand.


Billions of euros

In the Volkswagen group’s investment plan, 89 billion euros will be invested in electric cars and software over 5 years, this represents 54% of the group’s total investments.

The car group needs significant financing. 89 billion euros over the next five years, the VW group will invest in electric cars and their software in a total investment plan of 159 billion euros, i.e. more than the GDP of Wallonia or the Brussels region (108 billion and 86 billion respectively in 2019 before the pandemic).

In fact, electrification is a wave of the automotive industry, which is imposed by legislation and the desire to pollute less. Not a manufacturer can hide an ambitious plan in the electric field. Gigafactorys are starting to pop up across the continent and dozens of projects are being announced.

Condemned by some as a job destroyer, the electric vehicle could finally also make it possible to produce locally. The question will be how quickly European industry manages to switch to electricity. The car is a long value chain with many suppliers and partners.

40% of sales in Belgium

Porsche has already proven that it can board the electric vehicle path without too much troubles with its first 100% electric car in the series, the Taycan.

“In Belgium, now that the Taycan is available in all its versions, whether sedan, GTS or cross turismo, it represents 40% of our sales.”

Catherine Vangel

PR manager Porsche Belgium

“In Belgium, now that the Taycan is available in all its versions, whether sedan, GTS or cross turismo, it represents 40% of our sales”, explains Catherine Van Geel, PR Manager for Porsche Belgium at D’Ieteren Auto.

The iconic 911 still represents between 35 and 40% of sales, but Catherine Van Geel estimates that even the customers most inclined to internal combustion engines are often seduced by an electric Porsche once they got their hands on it.

That’s good because Oliver Blume, new head of the Volkswagen Group, in addition to remaining at the helm of Porsche, claims to be a big fan of electromobility and wants to go even faster with 80% electric Porsches in the brand’s sales by 2030.

In Belgium, as elsewhere, the electric future for Porsche does not scare.

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