On Monday, Porsche AG (P911_p.DE) reported record first-quarter sales of 18%, driven by China sales.
The German luxury carmaker supplied 21,365 automobiles in China, its largest market, 21% more than last year. Again, post-pandemic demand drove the region’s biggest outcome.
Mercedes (MBGn.DE) delivered 191,000 automobiles in China in the first three months of 2023, up 3%.
After China lifted its COVID-19 shutdown in late 2022, luxury brands saw demand rise.
Porsche delivered 80,767 automobiles worldwide, up in every area. Porsche’s best-selling models were the Macan, Cayenne, and 911.
“The good start makes us confident for the rest of the year – at the same time, we remain vigilant and flexible in an environment that remains challenging,” said Porsche’s executive board member for sales and marketing, Detlev von Platen.
