Porsche announced record-breaking results for the past financial year with 301,915 sales and a €5.3 billion operating profit, while setting goals for the future and hinting at its electrified range. The company wants fully electric models to account for more than 80 percent of its total sales by 2030.
Fully Electric Macan And 718, Together With A Hybrid 911
Starting with the future range, Porsche CEO, Oliver Blume, talked about the fully electric Macan that is getting closer to its debut, mentioned the hybridization of the 911, and officially confirmed that the next generation of the 718 will be exclusively available in fully electric form.
The new 718 range will be arriving in the middle of the decade (2025), with the goal of becoming “the best pure electric sportscar in the segment”. Predictably, it will be inspired by the Mission R prototype introduced at the 2021 Munich Auto Show, featuring a mid-mounted battery pack for optimum weight balance.
Read More: New Porsche Mission R Is A 1,073 HP Electric Racing Car That Hints At Future Cayman
Porsche wants BEV and PHEV models to account for 50 percent of its sales by 2025. Europe is already close to that goal, with 40 percent of new Porsche vehicles delivered to European customers in 2021 being either plug-in hybrid or fully electric. The next half of the decade will see a focus on BEVs, which should account for more than 80 percent of Porsche’s global sales by 2030, when the automaker wants to achieve carbon neutrality.
Besides offering more electrified options in its model range, Porsche is also working on increasing the available charging points with its own infrastructure exclusively available for Porsche owners, complementing the growing Ionity charging network. Finally, in terms of battery production, Porsche is investing in new technologies, with high-performance battery cells from Cellforce Group reaching series production by 2024.
Record-Breaking Financial Results
Porsche is proudly one of the most profitable automobile manufacturers. Last year, the Stuttgart-based company generated €33.1 billion (+15 percent) from its sales, with an operating profit of €5.3 billion (+27 percent) and a net cash flow of €3.7 billion (+68 percent).
Despite the semiconductor shortage, Porsche delivered a record-breaking 301,915 vehicles in 2021, signaling an increase over the 272,162 units of 2020 and exceeding the 300k annual sales milestone for the first time in its history. Unsurprisingly, SUVs were the best-selling models with 88,362 units of the Macan and 83,071 units of the Cayenne. Those were followed by the fully electric Taycan that is now available in three bodystyle variants – the regular Taycan, the Sport Turismo, and the Cross Turismo – which more than doubled its sales to 41,296 units last year. The 911 enjoyed a record year with 38,464 sales but it still ended up in fourth place, behind the Taycan and well ahead of the 718 Boxster and Cayman.
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In terms of regions, China remains Porsche’s biggest market with 96,000 sales (+8 percent). Sales in the United States grew to more than 70,000 units (+22 percent), while in its home market, Germany, Porsche sold almost 29,000 units (+9 percent).
Commenting on the current “tense” economic and political situation, Lutz Meschke, Porsche’s CFO, said: “Porsche is looking at the armed conflict in Ukraine with great concern and dismay. We continue to hope for a cessation of hostilities and a return to diplomacy. The safety and integrity of the people are paramount” adding that “We have challenging months ahead of us, both economically and politically, but we are nevertheless sticking to our strategic goal, which has been firmly anchored for years, of ensuring an operating return on sales of at least 15 percent in the long term”. The comments follow a recent donation of €1 million from Porsche AG to help people in need in Ukraine.
Despite the difficulties, Meschke admitted that the company is in great shape, while confirming the consideration of an IPO: “Strategically, operationally and financially, Porsche is in an excellent position. We are therefore looking to the future with confidence – and welcome the consideration of an IPO of Porsche AG. This would allow Porsche to raise its profile and increase its entrepreneurial freedom. At the same time, Volkswagen and Porsche could continue to benefit from joint synergies in the future.”
