Porsche China Sales Slide as Market Turns to Local EVs

chun

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https://www.bloomberg.com/news/arti...na-sales-plunge-as-electric-taycan-falls-flat

Intensifying competition and weaker spending in China dragged VW’s luxury sports-car brand Porsche AG to its lowest third-quarter sales in a decade. The decline was particularly sharp for Porsche’s electric Taycan model, which sank 47% globally.
“The competitive situation in China is particularly intense, which is the main reason for the global decline in our deliveries,” said Marco Schubert, who oversees sales for VW.

VW’s struggles in China are contributing to a broader reckoning in Germany, where the company’s namesake marquee is undergoing a massive restructruing. VW said it can no longer shoulder the costs of excess production capacity and high wages in its home market, leading it to end three decades of job security agreements and threaten to close German factories for the first time in its 87-year history

VW is one of the European carmakers at risk of retaliatory duties from Beijing after European Union member states voted to impose tariffs on electric vehicles from China.
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Crazymind

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I am really enjoying seeing China taking over. We Made China and now we are done. Import duty will not stop the Chinese Tsunami.
 
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chun

chun

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I am really enjoying seeing China taking over. We Made China and now we are done. Import duty will not stop the Chinese Tsunami.
The problem with the import duty is if the chinese government decides to do the same. Most of the cars sold in the world are sold in China. It's a massive market. Being imposed tarifs there, where you are already doing bad, and competition is high, means death to the brand in that market.
 

Jasper4S

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Sorry to say, but that is a good thing. Most german cars nowadays have fake exhaust, weird chrome strips everywhere etc to please chinese customers. Hope germany get its act together and will start focussing on brand+quality instead of higher sale numbers and “new” markets. Make the german cars a status symbol again. (It will be if China adds import taxes again). Base price +
import tax will make every new german car expensive thus a rich man symbol
 


corgidad

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To be honest this situation is related to the bad economy performance and outlook. People in China are losing jobs. Their property values are tanking, and upper middle class don’t feel comfortable spending that much money on cars any more.

My parents still live there, and every time we talk, they tell me how daring the economy is in China.
 

Mr.Smith

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OEMs are too focused on China because it's the biggest car market on earth, but there is no way to win there.
They subsidize their own companies, steal from other car companies
 
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chun

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OEMs are too focused on China because it's the biggest car market on earth, but there is no way to win there.
They subsidize their own companies, steal from other car companies

Good products always win. They don't have good products when compared to other cars in china
 


Murph7355

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The problem with the import duty is if the chinese government decides to do the same. Most of the cars sold in the world are sold in China. It's a massive market. Being imposed tarifs there, where you are already doing bad, and competition is high, means death to the brand in that market.
It only takes the threat of tariffs the other way....as we are seeing.

Depends how tariffs are imposed, but they are very often a very blunt instrument.
 

Mr.Smith

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Good products always win. They don't have good products when compared to other cars in china
Yes but it's a little different in China. I spend a good amount of time there for business.
My business partner recently got the mini Taycan knock off for $30k.

Porsche Taycan Porsche China Sales Slide as Market Turns to Local EVs 1000047933


50% of cars I see there are EVs in the bigger cities. It's unreal.

I agree with you on the Ultra luxury segment, but the average driver there, that needs an EV will get a Chinese brand.
 
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ze_shark

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Most Asian countries have been applying hefty tariffs and excise cars on most cars for a long time, especially expensive ones. Not just China.
A Taycan 4 is 147k$ in China.

In comparison, the "pre-tariff" baseline for importing chinese cars in the EU was 10%.

So the latest incremental tariffs are not a useful measure of total barriers to trade.
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