Xiaomi SU7 Impact? Porsche's sales in China plummeted by 38%, what does Lei Jun think?

Smart electric travel

2024-05-26 15:59Posted in Beijing Automotive Creator

Xiaomi SU7 became very popular after its launch, and was nicknamed "Mische" and "Porsche" by netizens because of its appearance design that resembles a Porsche Taycan. Although it is burdened with the controversy of "borrowing" Porsche, the Xiaomi SU7 has put Porsche under pressure on the sales side. Could it be that Xiaomi cars are really following the path of Porsche, so that Porsche has no way out?

From January to April, Porsche sold 18,095 units in China, down 38.4% year-on-year. Porsche sales in April were 4,823 units, down 32.8 percent year-on-year. Porsche is also not selling in China.

Due to the decline in sales, Porsche's performance also took a sharp turn. According to the financial report, Porsche's total revenue in the first quarter of 2024 will be 9 billion euros, a year-on-year decrease of 10.8%; Operating profit was 1.282 billion euros, down more than 30% year-on-year.

During the reporting period, Porsche's sales margin fell to 14.2% from 18.2% in the same period of 2023, a year-on-year decrease of 4 percentage points. It can be seen that in the environment of increasingly fierce market competition, Porsche is facing performance pressure, and the contradiction between Porsche and dealers is also on the verge of breaking out.

There are reports that Porsche dealers in China collectively "rebelled" and prepared to force the German headquarters. The main focus of the contradiction is that Porsche's sales have plummeted, and pure electric vehicles cannot be sold, resulting in the sale of cars at a loss. In order to complete its own sales task, Porsche China still chooses to press the warehouse, which leads to the intensification of the conflict between the two sides.

Porsche-branded vehicles are all luxury cars, and pressing an inventory car is equivalent to pressing several or even more than ten cars of ordinary car brand dealers.

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