Porsche Continues Strong Recovery In The US

All eyes have been on how quickly the world's leading motoring manufacturers recover from the worst of the global pandemic. Following Q2 results in which May and June showed signs of Porsche's recovery, the brand has now released figures for US retail deliveries in the third quarter, and there are some promising signs.

Deliveries by Porsche's 192 local dealers were up by five percent relative to the same period last year for a total of 15,548 units between July and September. However, 2020 sales remain 11.8 percent lower compared to 2019 at this point in the year. At the end of Q2, 2020 sales were down 20.1 percent year-on-year, so at least Porsche is moving in the right direction.

The top-selling Porsche in Q3 was the Macan with 5,466 units, a 15.6-percent drop for the crossover relative to Q3 in 2019. It was followed by the Cayenne (4,509), Taycan (1,858), 911 model line (1,567), and 718 model line (1,084). The Panamera was the lowest-selling Porsche with 1,064 units.

This is the second consecutive quarter where the Taycan outsold all 718s, despite the former starting at a much higher price point. However, the 718 still saw a big improvement over Q2, when just 472 Boxsters/Caymans found homes. Panamera sales dropped by the biggest percentage (-16.6%) year-on-year, and we wouldn't be surprised if the Taycan had something to do with that. Year-on-year, the Cayenne SUV saw the biggest improvement with an increase in sales of 4.9 percent.

Overall, Porsche deliveries increased by 3,356 units relative to Q2.

Porsche Approved Certified Pre-Owned (CPO) sales were also reported for Q3 and totaled 7,661 units, an increase of 26.4 percent over the same period last year.

"The third quarter remained challenging for many people, so I am grateful to our customers for their enthusiasm and to our dealers and their employees for the energy they continue to bring to Porsche," said Joe Lawrence, Executive Vice President and Chief Operating Officer of Porsche Cars North America. He particularly pointed out the positive response to the Taycan, with demand for the electric sedan growing to the point that Porsche needed Audi's assistance to meet production demands.

If the trend continues, Porsche can look forward to a strong fourth quarter and hopefully get even closer to its record 2019 performance.