Introductory Rate for a 911 Carrera T: Just the Beginning
The yearly press conference for Porsche took place recently, and aside from revealing the highly anticipated 911 Hybrid, the corporation also disclosed their typical uninteresting financial details. We will spare you most of the specific digits, but there is one in particular that caught our attention. In the year 2023, the average amount spent by customers on their purchase was €117,000. At the current exchange rate, this roughly translates to $127,800.
To give some context, when we consider the mandatory delivery and destination charges, the price of a Carrera T is similar in the United States. For approximately $128,000, you could purchase two base Macans and still have extra funds to include additional features. Like most vehicles, Porsches are more affordable in the US compared to the European Union where individuals are subject to value-added tax (VAT), which can reach up to 27 percent in certain countries such as Hungary.
Furthermore, governments within EU nations impose penalties on individuals seeking to purchase vehicles with higher emissions, resulting in exorbitant prices for models such as the Toyota GR Yaris and Honda Civic Type R in countries like France and The Netherlands. Porsche saw a 12 percent increase in shipments throughout Europe (excluding Germany) in 2023, with a notable 9.9 percent rise in their home market. In fact, Europe accounted for almost one-third of worldwide demand. North America (excluding Mexico) closely followed with a 26.9 percent share, while China (including Hong Kong) contributed 24.8 percent to the overall sales.
Porsche provides an explanation for the continuous year-over-year increase in average transaction prices. This can be attributed to their practice of adding more high-quality standard equipment, leading to an increase in base prices. An individual who takes pleasure in using online configurators has observed a consistent hike in prices, making it more challenging to acquire the sought-after 911 (or any Porsche model, for that matter). However, this does not mean that sales have declined; on the contrary, 2023 was yet another year of breaking records.
This year marked the third consecutive time that deliveries have reached an all-time record, reaching a staggering 320,221 automobiles which is a 3.3 percent increase from the previous year. Not surprisingly, the Cayenne maintained its position as the top seller for the company with a whopping 87,553 units sold, closely trailed by the Macan with 87,355 crossovers. Falling behind in third place was the iconic 911 with 50,146 impressive sports cars, while the electric Taycan made a strong debut in fourth place with 40,629 cars sold. The Panamera held its own in fifth place with 34,020 automobiles sold, leaving the 718 Boxster/Cayman to wrap up the list with 20,518 vehicles sold.
It will be intriguing to observe if Porsche can sustain its current sales surge in 2024, as the gasoline-powered Macan will soon be phased out of the European Union. Due to new cybersecurity legislation, the brand is compelled to discontinue its top-selling model in all 27 EU member states. However, the sleek crossover will still be available in the United Kingdom.
Source: Porsche
