Porsche CEO Oliver Blume (left) and CFO Lutz Meschke.
Porsche announced that its 2022 financial year was even better than 2021, after it achieved four new records.
Its group operating profit increased by 27.4% to S$9.8 billion (6.8 billion euros). Group sales revenue also rose by 13.6% to S$54.3 billion (37.6 billion euros), beating 2021’s figure of S$47.8 billion (33.1 billion euros).
The Stuttgart-based brand’s return on sales also climbed from 16% to 18%. Deliveries were also up by 2.6%, reaching 309,884 units. This figure was 301,915 in 2021.
The Cayenne’s continued growth means it remains Porsche’s most popular model.
Porsche’s most popular model in 2022 was still the Cayenne (read our review of the Cayenne Coupe here). Deliveries of the SUV reached 95,604 units, representing a 15% rise year-on-year. The Panamera recorded 34,142 units delivered, an increase of 13%.
Meanwhile, the 911, dubbed the “soul of Porsche”, marked a 5% rise compared to 2021, with 40,410 units delivered.
The company said it achieved these results despite headwinds such as the war in Ukraine that disrupted the supply of wiring harnesses, as well as the global semiconductor shortage that affected the automotive industry.
That said, the carmaker has delayed the launch of the all new, electric Macan SUV. Originally slated to be released this year, it has been pushed back to 2024 due to software development issues. The electric Macan will be followed by the new Cayenne.
Porsche will continue to make special edition models like the 911 Sport Classic (above), and expand its Sonderwunsch programme as well.
Considering the continued demand for luxury SUVs, Porsche plans to launch a new electric SUV model that sits above the Cayenne in the future.
The firm also mentioned that the next 718 model will be a battery electric vehicle and that the upcoming 911 will be a hybrid, as the company wants electrified models making up half its vehicle sales in 2025. By 2030, Porsche aims to have more than 80% of its sales consist of pure electric models.
Return on sales is another priority for the brand. It announced that the goal for its “Road to 20” plan is to eventually raise the return on sales figure from 18% now to 20% and higher in the future.
Sales of the Taycan fell in 2022 compared to 2021 due to supply issues with semiconductors and wiring harnesses.
Asked if the company would be trimming its workforce to meet this goal, Porsche replied that it actually plans to increase its headcount to help realise it.
Financial matters aside, the brand says it plans to enhance the customer experience as well. It cited how 40% of its US dealerships “will be rejigged”, and specifically mentioned that Porsche Centre Singapore will be expanded.
This article was first published on Sgcarmart.
