In the current market dominated by new energy vehicles, Porsche’s retail volume in China has declined YoY for two consecutive years, with a further drop of 32% in 2024.
In the Chinese market in 2024, Porsche SUV retail volume declined by 33% YoY, with main model Cayenne dropping by 25%; sedan retail volume fell by 31% YoY; among sportscars, the 718 and 911 declined by 26% and 42% respectively.
From a city tier perspective, Porsche retail sales in tier 1 & new tier 1 cities declined by 31% YoY, while retail sales in tier 2 & 3 cities declined by 34% YoY.
In the 500,000+ yuan segment, Porsche’s share in Tier 1 and New Tier 1 cities dropped from 9.8% in 2023 to 8.5% in 2024, while its share in Tier 2 and Tier 3 cities declined from 8.1% in 2023 to 7.1% in 2024. This indicates that the rise of Huawei AITO is encroaching on the luxury car market, including Porsche.
As a direct competitor to the Porsche Cayenne, Huawei’s AITO M9 has completely outperformed the Porsche Cayenne in the retail market thanks to its powerful product capabilities.
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