Stuttgart: Porsche, the sports car brand of the German automotive manufacturer Volkswagen Group, experienced a 3% decrease in global vehicle deliveries in 2024 compared to 2023, primarily due to reduced demand in China. Total car deliveries fell to 310,718 from 320,221 the previous year, as stated by the company on Monday.

According to Anadolu Agency, the brand's sales in China saw a significant decline of 28% compared to 2023, with deliveries dropping to 56,887 units. The company attributed this decrease to the ongoing challenging economic conditions in the region, which have impacted consumer demand for luxury vehicles.

In contrast, Porsche's sales in Europe increased by 8%, with Germany showing a notable 11% year-on-year growth in 2024. Additionally, deliveries to international and emerging markets rose by 6% compared to the previous year.

In response to the continued weak demand in China, Porsche announced in October 2024 that it would reduce its dealer network in the country. While the German manufacturer's deliveries to China account for about 20% of its global deliveries, the company is also facing challenges due to tariff tensions between the EU and China.