Is Porsche in a World of Hurt With EV Production?

[FlyingPoint]

I recently saw this video and was surprised to hear how badly PAG is doing with respect to producing and selling the Taycan.

Thoughts about what is going on? I have not seen Porsche struggle like this since the 1990's.

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[tigerbalm]

Oh gawd, not this idiot again?

 

[Tooney]

I have not watched that video, but the same presenter has made videos about Taycans that are just off the wall. I stopped watching him. I don't trust him.

 

[WuffvonTrips]

My thought is- oh not this schmuck again, do not fund his life by watching his content.

 

[FlyingPoint]

I have not seen him before. I was curious about the production issues and sales numbers. If his stat's are true, it is a real problem for PAG. He claims Taycan sales are lower for 2022 than 2021, again if true that bodes poorly since 2021 was still a lockdown pandemic year in many places.

 

[gnop1950]

I had the same reaction when I saw the video in the post. "Oh, not this idiot again." He seems to spend pretty much all of his time trashing Porsche, or really any EV manufacturer other than Tesla although he seems to find Porsche particularly irritating for some reason. Our battery gate hero

Now I have no doubt Porsche, and all EV manufacturers, are having issues with the supply chain. I mean Telsa stock is down 44% in 2022 but I doubt you'll see him spending much time discussing why that is happening.

 

[tigerbalm]

I have not seen him before. I was curious about the production issues and sales numbers. If his stat's are true, it is a real problem for PAG. He claims Taycan sales are lower for 2022 than 2021, again if true that bodes poorly since 2021 was still a lockdown pandemic year in many places.

I'm long on P911 - though currently up 23% on my current position.

If rising global interest rates results in a reduced order book for Porsche then "its working" from the position of central banks like the ECB who's remit is to carefully reduce economic activity in order to reduce inflation back to around 2%.

In hindsight – the pandemic was a strange period economically. What should have been a crash was averted by a massive stimulus package aimed at trying to keep businesses afloat and working-from-home resulted in households savings growing with little to spend it on.

All of this is now reversed: government assistance has mostly been turned off, savings is being eaten away by inflation and sentiment of a global slowdown is causing people to pause on "optional" big purchases – such as a Taycan.

In Ireland for example, car finance went from close to free – to now near 9% from Porsche. For the many that were using savings for a deposit and stretching to finance a Taycan RWD – this is now out of reach.

This is by design of the various central banks.

There is nothing fundamentally wrong with Porsche and it will find its equilibrium over the next few years. Especially when supply chains restore to health.

In Ireland – the only Porsche Centre in the country sold about 5 new cars in 2009 and 2010. They have asked for an allocation of 200+ Macan EV's – even in this economic environment.

The EV market is expanding – with consumers having more choice then ever – Porsche is holding its own and making an amazing (and desirable) transition to zero/low CO2 fleet ahead of many of its rivals.

If that video's content is relevant, I'll pick it up as part of my usual stock portfolio updates and planning from more reliable sources – not giving them a view due to their previous click-bait.

 

[Fish Fingers]

Never seen him before.

Started watching it and decided he was a tool. So stopped.

 

[SergeyIndy]

I have not watched the video but the reality is what I am seeing at my dealer. There are no cars coming in with piles of orders on each SA's desk. Few that came in either had problems (Taycan GTS came with faulty liquid roof) and others without amplifiers (Bose, BM) and cannot be released to customers. I put my order on 2023 Turbo as soon as it was available this May and I still do not have a slot with few recent releases going to California. You tell me what is going on there at PAG and when they are going to get it together if other companies figuring things out how to remedy supply chain issues. All the dealer is doing is looking for used to make sales. The other thing they are doing is posting badly photoshopped Macan EV and 718 EV pictures with long lists for orders already taken down. That should be a video on how bad things are at PAG.

 

[FlyingPoint]

This guy may be a "tool", but if his numbers are correct there is something to be concerned about. It is no secret that the EV Macan is hopelessly delayed, there is no EV Cayenne, while other OEM's have SUV's on the road - Rivian, Audi etc. He seemed to quote a lot of Seeking Alpha's research. I found it interesting that the VW software division has gone to programmers in China to sort out the problems with their software.
I am no Porsche hater to be sure, love the cars however there are ubiquitous challenges that one would expect PAG to have solved by now.

 

[daveo4EV]

I recently saw this video and was surprised to hear how badly PAG is doing with respect to producing and selling the Taycan.

Thoughts about what is going on? I have not seen Porsche struggle like this since the 1990's.

Question: Is Porsche in a World of Hurt With EV Production?
Answer: No.

move on - the presenter is not a reliable source of information - but is talking out of his ass.

 

[tigerbalm]

Petrol 718 production is moving to a a joint-brand VW factory in Osnabrück to make way for full 718 EV only production in Zuffenhausen.

Porsche's EV story is only getting started.

https://newsroom.porsche.com/en/202...ies-overflow-production-osnabrueck-28842.html

 

[DerekS]

Everyone calm the hell down. This is just another clickbait internet idiot.

How do I know?

I tried to place a 4S order before picking up my dealer-stock GTS. I was told the wait would be well over a year, and that around 12 people were ahead of me on the list.

If Taycan sales are down, it is simply because they can't make them. You know, that pesky war thing that disrupted supply on harnesses and who knows what else?

 

[FlyingPoint]

Can't argue with the statistic that the 911 and the Panamera have outsold Taycan's in 2022 through the Q32022:

From InsideEVS.com:
Porsche sales by mode - Q1-Q3 2022:

• Cayenne: 66,769
• Macan: 59,604
• 911: 30,611
• Panamera: 25,452
• Taycan (all versions): 25,073 (down 12%) and 8.2% of the total volume
  including 5,774 in the US (down 20%)
• 718 Boxster and 718 Cayman: 14,003
• Total: 221,512 (up 2%)

This guy may be a "click bait", but he uses reliable sources from what I can see:
From InsideEVs.com:

This chart is pretty anemic, considering where the world was in 2021

I guess my point is that with all the Taycan demand, why can't PAG make more cars?

 

[daveo4EV]

Can't argue with the statistic that the 911 and the Panamera have outsold Taycan's in 2022 through the Q32022:

From InsideEVS.com:
Porsche sales by mode - Q1-Q3 2022:

• Cayenne: 66,769
• Macan: 59,604
• 911: 30,611
• Panamera: 25,452
• Taycan (all versions): 25,073 (down 12%) and 8.2% of the total volume
  including 5,774 in the US (down 20%)
• 718 Boxster and 718 Cayman: 14,003
• Total: 221,512 (up 2%)

This guy may be a "click bait", but he uses reliable sources from what I can see:
From InsideEVs.com:

This chart is pretty anemic, considering where the world was in 2021

I guess my point is that with all the Taycan demand, why can't PAG make more cars?

figures lie
liars figure

the issue is not what are the sales numbers - the issue is "why" are the sales figures - deliveries may be down but production is flat to increasing…hmmmmmm

his conclusions as to "why" are deeply biased and suspect - no one outside of Porsche knows "why" production volume shifts/allocation happen or what supply chain issues have impact any particluar model being produced (seasonal changes perhaps to make more cupcars for the upcoming 2023 racing season, you can't delay those deliveries, the teams will miss the racing season - bad juju for the motorsports profit center).

Taycan's have been stored waiting for delivery (in vast quantaties) because of a shortage of 12V batteries…so much so that porsche has it on their website - that alone could account for any perceived short fall…

I trust this guy to properly analyze data about Porsche about as much as I trust Alex Jones to promote gun safety…or pay his legally mandated bills.

he is a troll calling attention to himself sensationalizing data out of context to drive clicks to his videos so that he can fund his pathetic lifestyle that can't afford a Porsche because his life turned out less than he had hoped so he lives on the internet making questionable claims about stuff he doesn't understand.

if Taycan sales/deliveries are "down" - NO ONE outside of Porsche actually "knows" "why" - if they did it would be material information (a legal term) and I doubt this guy has any "matieral information" - if he did he would be a legally defined porsche insider - and while I believe his head is "inside" something - it's not Porsche.