German sports car maker Porsche said global vehicle deliveries fell by 10% in 2025, mirroring weaker performance reported by rivals Audi and Mercedes as competition intensified in China.
The company said on Friday it delivered 279,449 vehicles last year, down from 310,718 in 2024. Sales in China dropped by 26%, with Porsche citing difficult conditions in the luxury segment and fierce competition in the fully electric market. Deliveries in Germany declined by 16%, while sales across the rest of Europe fell by 13%.
Porsche said the European downturn was partly driven by supply gaps for its 718 and Macan internal combustion engine models caused by new EU cybersecurity rules. Those regulations meant the petrol-powered Macan was no longer available in 2025, inflating comparisons with the previous year.
In North America, Porsche outperformed German peers Mercedes and Audi, with sales holding steady while both rivals posted declines of about 12%. Schmidt said Porsche likely benefited from early inventory registrations in the United States to reduce the impact of potential tariffs.
Like Audi, Porsche does not manufacture vehicles in the United States, leaving it exposed to U.S. tariffs that were expected to cost the company about 700 mln euros in 2025.
Porsche said fully electric vehicles accounted for 22.2% of its global deliveries last year, while plug-in hybrids made up 12.1%. The company said this placed its electric vehicle share at the upper end of its 2025 target range of 20% to 22%.
