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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Porsche delivered 279,449 vehicles worldwide in 2025, down 10.1% from 2024, and its first-nine-month 2026 deliveries were down about 16% year over year. The drop is not uniform: China was the sharpest regional weakness, while the Macan and 911 still grew. Porsche faces a mix of weak luxury demand, fierce EV competition, supply constraints and the planned end of the 718—not one simple cause.
How steep is Porsche’s sales decline?
Porsche AG’s customer deliveries fell from 310,718 in 2024 to 279,449 in 2025, according to the company’s 2025 delivery release published in 2026. That is a 10.1% decline. Porsche’s customer-delivery measure counts vehicles handed to end customers; it is not identical to revenue or a direct measure of retail demand in every market.
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The pressure continued into 2026. Porsche reported 178,532 deliveries in the first nine months of the year, compared with 212,509 in the same period of 2025—a decline of about 16%. The company’s release was available in indexed search text, but its page could not be opened, so this comparison and the stated reasons below are limited to those visible release details.
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Where did the 2025 decline hit hardest?
China was the clearest regional weak point. Porsche’s 2025 annual business report attributed the fall there to pressure in the luxury segment and especially intense competition among all-electric models. The contrast with China’s broader car market is notable, though the measures are different: Porsche reported 41,938 deliveries in China, down 26.3%, while its estimate for total Chinese passenger-car registrations was 24.3 million, up 3.9%.
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| Region | Porsche deliveries in 2025 | Change from 2024 |
|---|---|---|
| China | 41,938 | Down 26.3% |
| North America | 86,229 | Down 0.4% |
These figures, from Porsche’s 2025 annual business report, show why the global result should not be read as an equal decline everywhere. The company also identified Europe as a significant area of weakness, but the figures above are not a complete regional breakdown.
Which models held up, and which fell?
The model mix was uneven. Macan and 911 deliveries edged higher, while Cayenne and Taycan deliveries dropped by more than one-fifth. The figures below are Porsche’s global 2025 customer deliveries and year-over-year changes.
| Model line | Deliveries | Change from 2024 |
|---|---|---|
| Macan | 84,328 | Up 1.9% |
| 911 | 51,583 | Up 1.3% |
| Cayenne | Not stated in the cited annual business report summary | Down 21.4% |
| Taycan | 16,339 | Down 21.6% |
Porsche said the Cayenne’s year-over-year fall partly reflected a catch-up effect in the prior year. It linked the Taycan decline to slower adoption of electromobility. Those are the company’s explanations, not evidence that either factor alone accounts for the change.
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Why are deliveries falling?
China’s luxury market and EV competition
Porsche cited weaker demand for exclusive products in China and particularly intense competition for all-electric vehicles. The market’s overall growth in passenger-car registrations did not translate into growth for Porsche, underscoring that broad market volume and demand for a high-priced brand are not the same thing.
Supply gaps and the 718 phase-out
Porsche said supply gaps for combustion-engine 718 and Macan models were associated with European cybersecurity regulations. Production of the 718 ended in October 2025, removing that model line from the subsequent comparison. The company has described these constraints alongside demand weakness; its public figures do not isolate how much of the total decline each factor caused.
A changing powertrain mix
Battery-electric vehicles made up 22.2% of Porsche’s 2025 deliveries, compared with 12.7% in 2024. The share for all electrified vehicles—battery-electric and plug-in hybrid—rose to 34.4% from 27.0%. A rising electric share can coexist with falling total deliveries: it describes the composition of the vehicles delivered, not growth in the overall number.
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Porsche said the 2026 year-to-date comparison was also affected by unusually strong Macan Electric performance in the first nine months of 2025. That makes the comparison harder, but does not erase the reported year-over-year decline.
What do the figures say about Porsche’s wider challenge?
The sales decline sits alongside a much sharper fall in reported operating profit. Porsche reported 2025 Group revenue of €36.27 billion, compared with €40.08 billion in 2024, and operating profit of €413 million, compared with €5.64 billion. The company attributed around €3.9 billion in extraordinary expenses to product-strategy realignment and rescaling, battery activities, and US tariffs.
Porsche’s annual report says the product realignment included postponing some all-electric models while continuing combustion and hybrid vehicles. That points to a difficult balancing act: maintain the appeal of established models and powertrains while adjusting the pace and economics of electrification. Delivery totals alone cannot show how successful that strategy will be.
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What challenges lie ahead in 2026?
Porsche reaffirmed the following 2026 targets in its first-half results release. They are company guidance, not guaranteed outcomes.
| 2026 company guidance | Target |
|---|---|
| Group revenue | €35–36 billion |
| Group operating return on sales | 5.5–7.5% |
| Automotive net cashflow margin | 3–5% |
| Automotive EBITDA margin | 15–17% |
| Automotive battery-electric vehicle share | 24–26% |
The company has cited persistent pressure in China’s luxury segment, EV price competition, geopolitical uncertainty and US tariff policy as risks. Its target for the battery-electric share is a mix objective, not a delivery-growth forecast; improved margins or revenue guidance would likewise not, by themselves, establish that customer deliveries have recovered.
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- Separate total volume from regional performance. China’s drop was far steeper than North America’s near-flat result in 2025.
- Watch model-level results. Macan and 911 growth show that the global decline did not affect every line equally.
- Distinguish structural changes from demand. The 718 production end and supply gaps alter what Porsche can deliver; luxury demand and EV competition affect how well it can sell.
- Keep deliveries and financial results distinct. Customer handovers, revenue and profit measure different outcomes and can move by different amounts.
The clearest conclusion is that Porsche’s setback is broad enough to matter but uneven in its causes. China’s weakness, powertrain competition, supply disruption and product-transition choices all weigh on the outlook; the available figures do not support reducing the decline to a single failing model or a single market.
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