Porsche AG kicks off a year of product launches with determination

An image of a bright violet sports car parked on a racetrack, overlooking sunlit mountains in the background.
The world premiere of the Porsche Taycan Turbo GT was one of the highlights of the first quarter 2024.
  • Sports car manufacturer generates Group sales revenue of 9.01 billion euros and Group operating profit of 1.28 billion euros
  • Group operating return on sales is 14.2 per cent
  • Ramp-ups of the new Panamera and Taycan models impact results
  • CFO Lutz Meschke: “Even in challenging times, our financial strength allows us to invest decisively in our future. We are strengthening our product portfolio, our innovativeness and our products and services. In the first quarter, we gained a lot of momentum to lay the groundwork for future success.”
  • For 2024, Porsche is sticking to its forecast of a Group operating return on sales of 15 to 17 per cent.

Stuttgart. Porsche AG has got off to a vigorous and forward-looking start to the challenging 2024 financial year. In this year of product launches, the sports car manufacturer is renewing four out of its six model lines. The first quarter was marked by the ramp-ups of the third model generation of the Panamera and the new Taycan. In addition, large-scale investments have been made in digitalization and research and development. Accordingly, the Porsche Group recorded an expected decline in sales and earnings in the first three months. At the end of the quarter, Group sales revenue amounted to 9.01 billion euros (previous year: 10.10 billion euros). Group operating profit was 1.28 billion euros (previous year: 1.84 billion euros). Group sales revenue came in at 14.2 per cent (previous year: 18.2 per cent).

The specified fuel consumption and emission data does not refer to a single vehicle and is not part of the offer but is only intended for comparison between different types of vehicles. Additional equipment and accessories (additional components, tyre formats, etc.) can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO2 emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. Further information on official fuel consumption data and official specific CO2 emissions for new passenger cars can be found in the "Guide to fuel economy, CO2 emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at www.dat.de/co2.