Porsche’s global sales fell 10% in 2025 as China demand slumped and EV delays wiped €1.8bn from earnings.
Background: Porsche is the German sports car icon behind the 911 and Cayenne, sitting inside the Volkswagen Group alongside Audi and Bentley. After booming for years, it’s now staring down its toughest sales slump since the GFC era of 2009.
What happened: In 2025, Porsche delivered just under 280,000 vehicles globally, down 10% year on year. China was the biggest pothole, with sales plunging 26%. On top of that, delays to electric vehicle launches knocked around €1.8 billion off earnings.
What else: The numbers are a reminder of how exposed Porsche has become to one market. China has been a huge growth engine for luxury cars, but when it slows, the pain shows up fast… and it’s not just Porsche feeling it.
What's the key learning
💡Geographic concentration can significantly magnify risk. China has powered luxury car growth for more than a decade, but when demand weakens, the impact is immediate and brutal.
💡China’s luxury slowdown is structural... not just cyclical. A slowing economy and local EV competition are hitting foreign brands hard, especially those brands that are late to electric race.
💡Porsche isn’t alone in the pain. BMW saw China deliveries fall 12.5% and Mercedes dropped 19%, showing the entire luxury auto sector is exposed to how quickly one key market can flip.
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