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Electrified models drive record sales for Porsche

Porsche Taycan EV

Porsche delivered a record number of new cars in 2021, with almost 40% of those sold in Europe powered by an electric or plug-in hybrid powertrain.

A total of 301,915 new Porsche vehicles were sold to customers worldwide, last year, exceeding the 300,000 mark for the first time in the company's history and beating 2020’s figure of 272,162 deliveries.

The bestselling Porsche models were the Macan (88,362) and the Cayenne (83,071), while delivery figures for the Taycan more than doubled (41,296) overtaking the 911 sports car (38,464).

The Stuttgart-based sports car manufacturer reached a new all-time high in both sales revenue (up 15%) and operating profit (up 27%), delivering a return on sales of 16%.

Oliver Blume, chairman of the Executive Board of Porsche AG, said: "Our industry is experiencing what is probably the greatest transformation in its history. We set a strategic course early on and are robust on the operational front. This success is teamwork."

Porsche expects to be carbon-neutral on the balance sheet in 2030 and, by 2025, half of all new Porsche sales are expected to come from the sale of electric or plug-in hybrid models.

Production of an electric 718 will begin in 2023, while an electric Macan SUV is set to launch later this year.

In 2030, more than 80% of new Porsche sales are expected to be of fully electric models.

To achieve these goals, Porsche is investing in premium charging stations together with partners – and additionally in its own charging infrastructure. Further investments are flowing into core technologies such as battery systems and module production.

Market analysts have predicted that Porsche could be valued at in excess of £75 billion ahead of a public offering which aims to unlock value from the performance car brand.

Volkswagen Group aims to raise around £16.7bn with an initial public offering of around a quarter of the Porsche brand.

In light of recent component shortages, highlighted by Volkswagen Group chief executive Herbert Deiss, the IPO could be completed as soon as Q4.

Porsche CEO Lutz Meschke, added: "Strategically, operationally and financially, Porsche is in an excellent position. We are therefore looking to the future with confidence – and welcome the consideration of an IPO of Porsche AG. This would allow Porsche to raise its profile and increase its entrepreneurial freedom. At the same time, Volkswagen and Porsche could continue to benefit from joint synergies in the future."

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