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Porsche reports Q1 2022 U.S. retail sales

04/01/2022

More than 13,042 new cars across all model lines delivered to customers

Porsche Cars North America, Inc. (PCNA) today announced U.S. retail deliveries in the first three months of 2022 totaled 13,042. Compared to the first quarter of 2021, which was the strongest sales year in PCNA’s history, this was down 24.9 percent and came as supply and transit issues affecting multiple automotive brands also impacted deliveries to Porsche customers.

“We are grateful for the unwavering enthusiasm of customers who are inspired by our brand, and we are working tirelessly with our colleagues at Porsche in Germany to overcome the supply challenges affecting the wider automotive industry,” said Kjell Gruner, President and CEO of PCNA. “This enthusiasm is also the result of the sustained focus by our 194 independently owned and operated dealers on making the customer experience the best it can be through the entire process of shopping, ordering, delivery and service.”

First quarter deliveries were led by both SUV models, the Macan and Cayenne. The Porsche 911 and the all-electric Taycan again vied for the next spot, followed by the refreshed Panamera and the 718 Boxster and 718 Cayman.

PCNA follows the U.S. Auto Industry Sales Release Schedule issued by Motor Intelligence. First quarter new car sales began on January 5, 2022, and ran through March 31, 2022.

Porsche Taycan Taycan Q1 2022 US Sales Remain Steady Year Over Year porsche-taycan-sales-in-the-us-in-q1-2022-b
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Bella

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Porsche reports Q1 2022 U.S. retail sales

04/01/2022

More than 13,042 new cars across all model lines delivered to customers

Porsche Cars North America, Inc. (PCNA) today announced U.S. retail deliveries in the first three months of 2022 totaled 13,042. Compared to the first quarter of 2021, which was the strongest sales year in PCNA’s history, this was down 24.9 percent and came as supply and transit issues affecting multiple automotive brands also impacted deliveries to Porsche customers.

“We are grateful for the unwavering enthusiasm of customers who are inspired by our brand, and we are working tirelessly with our colleagues at Porsche in Germany to overcome the supply challenges affecting the wider automotive industry,” said Kjell Gruner, President and CEO of PCNA. “This enthusiasm is also the result of the sustained focus by our 194 independently owned and operated dealers on making the customer experience the best it can be through the entire process of shopping, ordering, delivery and service.”

First quarter deliveries were led by both SUV models, the Macan and Cayenne. The Porsche 911 and the all-electric Taycan again vied for the next spot, followed by the refreshed Panamera and the 718 Boxster and 718 Cayman.

PCNA follows the U.S. Auto Industry Sales Release Schedule issued by Motor Intelligence. First quarter new car sales began on January 5, 2022, and ran through March 31, 2022.

porsche-taycan-sales-in-the-us-in-q1-2022-b.jpeg
They do not breakout Taycan CT sales. I wonder what the breakdown is? 25% CT??
 

DCYL725

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They do not breakout Taycan CT sales. I wonder what the breakdown is? 25% CT??
Can do a survey here to find an approximation. Though curious why this would matter?

EV sales in general I can see the need to know, given the supply chains and stakeholders involved.
 

Chris8536

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Despite the headline, this is very worrisome. Porche's staple products (Cayenne and Macan) took a 43% and 25% dive. Overall sales fell by 23% from jan 2021 which was already a down year.

This is terrible.
 

O2TheL

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Terrible from what perspective? Just curious
 


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It’s terrible, but it’s not demand driven, it’s been caused supply issues. Bad for 2022 financials, but not a long term issue.
 

soawjo

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It’s terrible, but it’s not demand driven, it’s been caused supply issues. Bad for 2022 financials, but not a long term issue.
Yeah, they lost 1100 cars just from the Felicity Ace fire which is about 6.5% of the Q1 2021 sales alone (I assume those would have counted towards Q1 2022 sales)
 

TaycanHero

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Yeah, they lost 1100 cars just from the Felicity Ace fire which is about 6.5% of the Q1 2021 sales alone (I assume those would have counted towards Q1 2022 sales)
A ship sinking wouldn't remove the same number of orders. It would double the number of cars shipped for those orders (unless the buyer cancelled).
 


soawjo

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A ship sinking wouldn't remove the same number of orders. It would double the number of cars shipped for those orders (unless the buyer cancelled).
It would move the sales from Q1 to say, Q2 or Q3 though wouldn't it? So the Q1 YoY difference would still be affected by the cars that were on the Felicity Ace
 

jld1

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I was thinking the reverse - lower sales indicates greater availability for production. Yet we're all experiencing huge delays anyway, so that theory doesn't seem too solid.
 

TaycanHero

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This isn't specific to Porsche either:

https://www.cnbc.com/2022/03/31/us-...-2022-looks-bleak-due-to-chips-inflation.html

The supply chain problems are by far the largest factor behind double digit declines in car sales QoQ, and that is observed across many different brands, globally.

In terms of recession, that was obvious once the dust had settled on the lockdowns, done in a state of panic with no cost/benefit analysis. Where else is the world economy to go unless the magic money machine of central banks kept running?

It's now economic check mate.

It isn't just cars that people will stop buying. It's everything that isn't a necessity as we enter a unique point in economic history where demand is outstripping supply, then demand plummets, supply squeezes further and the price of everything continues to go up.

Another chapter writ in human economic stupidity history.
 

TaycanHero

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It would move the sales from Q1 to say, Q2 or Q3 though wouldn't it? So the Q1 YoY difference would still be affected by the cars that were on the Felicity Ace
Depends how VW accounts their sales. I don't know if they account for locked orders or delivered orders.

To me the former seems more logical as it's highly unlikely a large %age would ever go undelivered and unpaid. It's better for cashflow as they can forward project deliveries and then get access to finance sooner.
 

W1NGE

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Despite the headline, this is very worrisome. Porche's staple products (Cayenne and Macan) took a 43% and 25% dive. Overall sales fell by 23% from jan 2021 which was already a down year.

This is terrible.
Probably because the new Macan was launched and now a facelifted Cayenne may explain some of the delta.

What we don't know are the orders placed numbers.

Lack of air suspension on both Macan and Cayenne would have deferred some sales (due to flooding in German factory).

I suspect all is well on the sales front and will explode with the Macan EV.
 

Chris8536

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It’s terrible, but it’s not demand driven, it’s been caused supply issues. Bad for 2022 financials, but not a long term issue.
If you can't deliver you can't deliver. That's an issue no matter what. And yes everyone will be having the same issue. Im guessing the proposed Porsche spinoff IPO will be put on hold under these types of numbers.
 

Chris8536

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Probably because the new Macan was launched and now a facelifted Cayenne may explain some of the delta.

What we don't know are the orders placed numbers.

Lack of air suspension on both Macan and Cayenne would have deferred some sales (due to flooding in German factory).

I suspect all is well on the sales front and will explode with the Macan EV.
All is not well with a 23% drop in sales. Refreshes would not account for anywhere near that much. The issue is supply chain of course, but I'm curious about luxury consumer demand dipping quickly as well.
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