Porsche, the sports car brand of the German automotive manufacturer Volkswagen Group, saw a 3% decrease in global vehicle deliveries last year compared to 2023 due to low demand in China.
Total car deliveries in 2024 decreased to 310,718 from 320,221 the previous year, the company said in a statement on Monday.
The brand’s sales in China fell 28% last year compared to 2023, to 56,887.
“The decline in China is mainly due to the ongoing difficult economic situation in this region,” the company said.
Its sales in Europe, however, increased by 8%, particularly in Germany by 11% year-on-year in 2024.
Deliveries to international and emerging markets increased by 6% in 2024 compared to 2023.
Porsche announced in October 2024 that it would reduce its dealer network in China due to continued weak demand.
While the German manufacturer’s deliveries to China account for about 20% of its global deliveries, the company is affected by tariff tensions between the EU and China.