Porsche prides itself on being among the most profitable automobile manufacturers in the world, and that trend continues in the first quarter of 2021. Revenue in Q1 2020 was a bit rough, thanks to dealerships, factories, and logistics shutting down in the wake of the coronavirus pandemic. Revenue from car sales increased year-over-year from 6 billion euros to 7.7 billion euros, and return on sales improved from 9.5 percent to 16.2 percent. Yeah, that’s pretty impressive.
“We have started the year very well and expect that we will once again achieve our strategic goal of a 15 percent return on sales in fiscal year 2021,” says Lutz Meschke, Deputy Chairman and Member of the Executive Board responsible for Finance and IT at Porsche AG. “Reaching this benchmark is an even greater achievement because we are investing significantly more compared with the past in electrification, digitalization and also sustainability. Our quarterly numbers show that we are positioned very well – both in terms of our cost and revenue structure and also with our model range.”
In addition to great profit per vehicle sold, Porsche also sold a lot more cars in the first quarter of 2021 than it ever has before. Nearly 72,000 new Porsche vehicles were delivered to customers in January, February, and March, accounting for a 36 percent year-over-year increase. Obviously the Macan was the most popular of Porsche’s models, yet again, shifting 22,458 units, but Porsche’s newest model also saw high demand. The Taycan is still a fresh face on the scene for Porsche, and worldwide customers bought 9072 examples of the electric sedan. You can expect that number to increase massively in the next report as the Cross Turismo wagon reaches dealer lots, as well. The 992-generation 911 continued a steady march upward, as 9133 of those rolled out as well, meanwhile new variants of that car are unveiled nearly every day!
“There is a strong team behind this strong showing. Our teamwork allows us to steer the company successfully through these challenging times, based on our fresh and attractive product range,” says Oliver Blume, Chairman of the Executive Board at Porsche AG. “We will sell significantly more Taycan cars this year than in 2020. In the first quarter, deliveries of our successful all-electric model were already almost half of the total for all of 2020. A particularly pleasing fact here is that around 50 per cent of the buyers are new customers. The Taycan is therefore increasing the size of our fan base.”
The reality is that Porsche adds hundreds of new fans to its base every day, and we hope that FlatSixes is where all of you first-timers will all learn more about your new favorite marque right here, will find community among the commenters, and will grow to love the brand even more. For all you new Porsche owners, welcome to the fold. You’ll love it here.