Blume (left) and Meschke.
STUTTGART: Porsche has confirmed that it will introduce an all-new D-segment electric model positioned above the Cayenne.
This new vehicle concept is designed to offer strong performance and automated driving functions with the typical Porsche flyline, along with a completely new experience inside the vehicle.
The Ferrari Purosangue fighter, believed to be a seven-seater, will be based on the SSP Sport platform developed in-house by Porsche.
“We are thereby underlining and strengthening our sporty luxury positioning. We are observing growing profit pools in this segment, in particular in China and the US,” said Porsche CEO Oliver Blume at its annual press conference today.
At the same time, Porsche wants to continue with its ambitious electrification strategy.
The all-electric Macan, which was supposed to launch in 2023, will be available to customers in 2024.
Porsche said its development has reached the home straight, as it has ironed out the software issues plaguing the electric compact SUV.
The company also said the all-electric 718 is planned for the middle of the decade. In the medium term it will only be available as an all-electric model. It will be followed by the all-electric Cayenne.
The fourth generation of the SUV will underline Porsche’s goal of delivering more than 80 per cent of its new vehicles as all-electric models in 2030.
During 2023, the Cayenne is already set to undergo one of the most comprehensive upgrades in the history of Porsche.
The updates to the third-generation model include three further-developed plug-in hybrids with greater ranges.
Thanks to a new chassis, there will also be an even wider breadth of abilities, balancing the on-road performance for which Porsche is famous, long-distance comfort and off-road capability.
Blume said Porsche is bullish on the Asean market and sees its growth trailed not far behind the company's top markets of China, US and Europe by the end of the decade. Already Thailand is the second biggest market after Norway for sales of electrified Cayenne models.
> Porsche in 2022 infographic (pdf)
The company is also well positioned to tap into the South-East Asian growth story with its assembly plant in Malaysia, which for the time being is only assembling the base version of the Cayenne.
Blume said Porsche would leave the door open for local assembly of more models subject to market development.
Group sales revenue in 2022 amounted to 37.6 billion euros, corresponding to growth of 13.6 per cent (2021: 33.1 billion euros). The Group operating profit was 6.8 billion euros, exceeding the previous year’s figure by 1.5 billion euros (an increase of 27.4 per cent).
Group deliveries and automotive net cash flow also reached new all-time highs in 2022. The Group operating return on sales rose from 16.0 per cent to 18.0 per cent.
This year, the Stuttgart sports car manufacturer is pushing its strategy of modern luxury forward and has started its ambitious Road to 20 programme to ensure its long-term profit goal.
The Road to 20 programme is the continuation of the successful Profitability Programme 2025, with which Porsche made itself more resistant to crises in previous years.
Under the ambitious Road to 20 programme, Porsche is aiming for a Group operating return on sales of more than 20 per cent in the long term.
“With the Road to 20 we are making Porsche even more resilient and our brand stronger than ever,” said Lutz Meschke, Deputy Chairman and Member of the Executive Board for Finance and IT.
“And we’re going to take a fresh look at everything, from our product range and pricing to our cost structure. We want to increase the quality of our contribution margins and make our products even more attractive.”
> Porsche's Road to 20 infographic (pdf)
Porsche said it has well-filled order books and was able to deliver 309,884 vehicles to customers in the previous year, despite the effects of the war in Ukraine, the challenges of the coronavirus pandemic, and global supply chain disruptions.
This corresponds to an increase of 2.6 per cent compared to 2021 (301,915 vehicles).
In the 2022 financial year, automotive net cashflow increased from 3.7 billion euros to 3.9 billion euros.
“Our success factors are improved price positioning, the strong product mix, the increase in vehicle sales, exchange rate effects, and our strict cost discipline,” said Meschke.
Porsche has also set itself ambitious sustainability targets. The company is working towards a net carbon neutral value chain for its vehicles in 2030.
This also includes a net carbon-neutral use phase for future BEV models (based on an assumed total mileage of 200,000km per vehicle).
