Porsche’s Plan Is Working: The Taycan EV Is Off To A Successful Start In America
The COVID-19 virus has affected just about everything on earth, including auto-sales. People don’t usually feel the need for a new car when they are advised to stay inside for months on end, which is why the auto industry has been in the fetal position for a while now.
Fortunately, some companies made it their quarantine mission to sell as many cars while there wasn’t a bunch of competition. That’s what Porsche has done in the last 9 months, sell the hell out of all their cars.
Since the mid-2000s, Porsche has been selling their SUVs (Cayenne and Macan) like hotcakes, last year, they sold roughly 190,000 vehicles total with the Macan, Cayenne, and Panamera doing most of the heavy lifting. But in 2020, the year of the mask, the all-electric Taycan has taken third place in the last several months in Porsche’s sales, only being beaten out by the Cayenne and Macan SUV.
Porsche’s second-largest market is the U.S, which trails China as number one, but the Taycan sold overwhelmingly enthusiastically. According to Chairman Oliver Blume over at Porsche HQ, their “young, attractive product portfolio appeals to customers. I’m optimistic about the coming months,” says Blume.
11,000 total Taycans were sold from January to September, which doesn’t sound so impressive, but once you do the math, it’s astounding. Since the Taycan’s price ranges from $103,000 to $185,000, let’s say that the average Taycan customer spends about $135,000 on average on their car. If we multiply that by 11,000, we can net-gain over $1.48 billion just on the Taycan alone.
It’s no wonder Porsche reported over 19 billion euros in net sales this past year, and they’re doing that with over 10% return, coming out to a very impressive 2 billion euros in profit for the company.
Hopefully, for Porsche, the Taycan will only gain more traction in the coming months and the new Cross Turismo variant will put it in a whole other vehicle class.
Max Larsen is the Porsche reporter at Torque News. Since he was 15 years old Max was building old cars and selling them for profit, spawning his love for cars. He has been around Porsches his entire life. His grandpa had several 911s and he owned a Porsche 944 when he was younger, which made the auto-shop class cars a lot simpler. Reading old car magazines and seeing press cars at shows gave him the passion to write and pursue the industry. He is currently studying for Journalism at Western Washington University and writing for the racing team there locally. Follow Max on Torque News Porsche and on Twitter at @maxlarsencars. Search Torque News Porsche for daily Porsche news coverage by our expert automotive reporters.