Porsche deliveries tumble further in first quarter

BERLIN, April 10 (Reuters) - ‌Porsche AG's ​deliveries ​slumped further in the first three months of 2026, with sharp declines in key ‌markets China and the United States, as ⁠loses its shine across.

Global deliveries were down 15% in the ‌first quarter at 60,991 ‌vehicles, the German sports car maker said on Friday.

In China, once a major growth engine for ​the Stuttgart-based carmaker, deliveries fell by 21% amid stiff competition on pricing and technology from ⁠local brands.

Porsche reported a 10% drop in deliveries to North America, ​driven partly by the discontinuation of U.S. tax incentives for electric vehicles, according to ​a company statement.

Its home market ‌Germany was the only region that saw growth at 4%. Deliveries in the ⁠rest of Europe plunged 18%.

Porsche pivoted back to combustion engine models and delayed the launch of some all-electric ⁠vehicles last year as demand sagged, at a cost of ​1.8 billion euros ($2.1 billion) to earnings.

New CEO Michael Leiters has pledged a turnaround with ruthless cost-cutting and new models.

The ‌first-quarter figures, which were impacted by the discontinuation of Porsche's combustion-engine 718 models ‌and a strong prior-year period for the all-electric ⁠Macan, were "overall in line ‌with our expectations", ​board member for sales Matthias Becker said.

($1 = 0.8559 euros)

(Reporting by Rachel MoreEditing by Ludwig ‌Burger)

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