# Porsche AG reports sharp fall in China deliveries
Author:  Pal Sinha,Barnali
Author URL: https://economystandard.com/author/pal-sinha-barnali/
Published: 2024-07-09
Category: Headlines
Category URL: https://economystandard.com/category/headlines/
Meta Title: Porsche AG Reports Sharp Fall in China Deliveries
Meta Description: Discover how Porsche's global vehicle deliveries decreased by 7% in the first half of 2023, with a significant 33% drop in China impacted by EU-China tariff tensions.
URL: https://economystandard.com/porsche-ag-reports-sharp-fall-in-china-deliveries/

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## Porsche AG reports sharp fall in China deliveries

(Reuters) -German sportscar maker Porsche said on Tuesday that global vehicle deliveries were down 7% in the first half of the year compared to the same period in 2023, primarily driven by a 33% year-on-year drop in China.

Porsche, majority-owned by Volkswagen , is highly exposed to the EU-China tariff tensions, with deliveries to China accounting for nearly 20% of global deliveries.

An HSBC analyst pointed to weakness in the European car market, saying that “the market is, understandably, worried about China pricing weakness and the prospect of needing to pay dealer compensation.”

Overall, Porsche delivered 155,945 cars worldwide during the first six months of the year.

In North America, deliveries were down 6% year-on-year. Meanwhile, in Porsche’s home market of Germany, deliveries increased by 22% to 20,811 vehicles.

(Reporting by Eva Orsolya Papp and Marleen Kaesebier, Editing by Friederike Heine)


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