Porsche sales will be 80% electric sports cars in 2030 Car News

Porsche followed its high-end VW Group siblings, Lamborghini and Bentley, in posting record revenues and profits in 2021.

Delivering more than 300,000 cars for the first time in its 91-year history, the sports car maker generated €33.1bn (£27.96bn) in revenue, an increase by 15% compared to 2020 in the grip of the pandemic.

Additionally, the brand’s operating profit jumped 27% to €5.3bn (£4.48bn), representing a return on sales of 16.0%.

It delivered a total of 301,915 cars worldwide, an increase of nearly 30,000 units from 2020. The Porsche Macan accounted for 88,362 units, followed closely by 83,071 units of the Porsche Cayenne, but demand for the Porsche Taycan EV more than doubled in its second full year on sale, taking sales of the electric four-door to 41,296 units.

The firm notes that the Taycan topped sales of the flagship Porsche 911 by almost 3,000 units, but added that the 911’s 38,464 was a record for the 58-year-old sports coupe.

Overall, electrified models (including Taycan and plug-in hybrid versions of the Porsche Panamera and Cayenne) accounted for nearly 40% of Porsche’s global sales, and Porsche plans to increase that to 50% in 2025.

More importantly, in 2030, Porsche predicts that purely electric cars will account for more than 80% of its overall sales. A new Porsche Macan EV is expected next year atop the new PPE platform Porsche has co-developed with Audi and the company has now confirmed it intends its 718 sports cars to go fully electric by the middle of the decade.

Last year’s radical Porsche Mission R concept gave hints of what to expect from an all-electric 718 Cayman, though the final production version is less overtly track-focused and offers less power in line with its route-oriented billing.

Porsche’s record financial figures were announced following official confirmation that its parent company, the VW Group, is making progress with plans to take the sports car maker IPO to fund its ambitious electrification goals.

Chief Financial Officer Lutz Reschke said: “We have difficult months ahead of us, both economically and politically, but we are nevertheless sticking to our strategic objective, which has been firmly entrenched for years, to ensure an operational return on sales of at least 15% in the long term.

“Our task force has already taken initial steps to protect our revenue. In this way, we want to ensure that we can continue to achieve our high profit targets. The extent to which this succeeds also depends on external challenges that we cannot influence.

“Strategically, operationally and financially, Porsche is in an excellent position. We therefore look to the future with confidence and welcome the idea of ​​an IPO of Porsche AG. This would allow Porsche to raise its profile and increase its entrepreneurial freedom. At the same time, Volkswagen and Porsche could continue to benefit from joint synergies in the future.”