Porsche's revenue 2011-2024
Porsche's revenue grew strongly between the 2011 and 2024 fiscal years, from just under 11 billion euros in 2011 to nearly 36.44 billion euros in 2024. The company was able to reap synergies following a maneuver of company integration, resulting in Porsche becoming a subsidiary of Volkswagen Group in 2012. Despite weakening automobile markets across the world between 2016 and 2019, deliveries of Porsche’s luxury vehicles had steadily increased until the COVID-19 pandemic hit the automotive industry. Between 2021 and 2024, the company successfully recovered from the drop in deliveries recorded in 2020.
Electrifying speedster
Electric car sales are growing in some of the world’s largest automobile markets such as China and the United States, and consumers have shown interest following improvements to range, charging infrastructure, and performance. Volkswagen aims to become a leading manufacturer of electric vehicles and promised an all-electric lineup by 2030. Porsche’s first modern-era electric sports car hit markets in 2020. The Porsche Taycan was met with unexpected demand in North America, and this model is available as a fully electric car.
Porsche’s Covid-19 response
Like the majority of auto manufacturers in Europe, Porsche’s factories ground to a halt in March 2020 due to the Covid-19 pandemic, affecting a third of the company’s workforce. Porsche restarted production the following May. Although factories closed in order to prevent spread of the coronavirus, Porsche could not justify producing new vehicles until supply chains could handle the renewing demand. New vehicle sales plummeted during the pandemic in markets across the globe. Porsche’s sales in the United States declined most severely out of Volkswagen’s brands. Customers of high-end vehicles, including Porsche’s sports cars, are financially well-insulated and have the security to fair reasonably well during a recession. This is demonstrated by the strong revenue generated by Porsche in 2021 and 2022, amidst the global chip shortage.
