In early 2022, Porsche said electric vehicles would account for more than 80% of total annual sales by the decade’s end. That goal is still in place, although the company added an asterisk next to 2030, saying it will depend on how customers react to EVs. In a Q&A session with the press during the conference call pretraining to Q3 2024 sales, the German brand admitted things aren’t going as planned.
Chief Financial Officer Lutz Meschke said the situation in China is “challenging” for Porsche and all the European luxury brands. In the United States and Europe, Porsche sees a “slowdown in the BEV transition and the customer demand is not satisfying overall.” He mentioned that “a lot of customers in the premium/luxury segment are looking in the direction of combustion engine cars. There’s a clear trend in this direction.”
Delusions of Adequacy 