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Porsche records RM181 billion in revenue for 2022; Macan EV in 2024, large SUV above Cayenne to come

Porsche records RM181 billion in revenue for 2022; Macan EV in 2024, large SUV above Cayenne to come

Porsche records RM181 billion in revenue for 2022; Macan EV in 2024, large SUV above Cayenne to come

German manufacturer Porsche has announced its figures for 2022, which saw the brand achieve 37.6 billion euros (RM180.9 billion), representing growth of 13.65 over its revenue figure of 33.1 billion euros (RM159.3 billion) in 2021, representing an all-time high for the brand.

Operating profit was 6.8 billion euros (RM32.7 billion) in 2022, up 1.5 billion euros (RM7.2 billion) over the previous year’s figure, or up by 27.4%, while deliveries and automotive net cash flow reached all-time highs last year, the company reported, and return on sales increased from 16% in 2021 to 18% last year.

“In difficult conditions, we achieved the strongest result in the history of Porsche by some distance. We were also able to offer our customers exciting new products yet again in 2022. This is the result of a great team performance,” said Porsche CEO and chairman of the executive board Oliver Blume.

Porsche managed to achieve 309,884 customer vehicle deliveries in 2022 – up from 301,915 vehicles in 2021 – despite various challenges, namely the effects of war in Ukraine, the coronavirus pandemic and the disruptions to the global supply chain. Automotive net cash flow grew from 3.7 billion euros (RM17.8 billion) to 3.9 billion euros (RM18.7 billion) in the 2022 financial year.

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These gains have been attributed to improved price positioning, the strong product mix, the increase in vehicle sales, exchange rate effects and strict cost discipline, said Porsche deputy chairman and executive board member for finance and IT Lutz Meschke.

Looking forward, Porsche embarks on its ‘Road to 20’ programme this year, in which the manufacturer aims to achieve an operating return on sales of over 20% in the long term, it said. “We are going to take a fresh look at everything, from our product range and pricing to our cost structure. We want to increase the quality of our contribution margins and make our products even more attractive,” Meschke said.

The ‘Road to 20’ programme is a continuation of Porsche’s Profitability Programme 2025, which helped the brand become more resistant to crises in previous years, according to the carmaker.

On the product front, Porsche will continue to focus on limited edition models as well as on expanding its ‘Sonderwunsch’ programme, which is literally translated from the German term for special requests. These span from factory commission of customised colours or trim materials for series production models, through a re-commissioning for older cars, to factory-built one-off models.

Electrification continues to play an integral role in product roll-outs, and the next-generation, fully electric Macan is set to reach customers in 2024, says Porsche. The brand’s smallest SUV will be joined by the all-electric 718 range of sports cars in “the middle of the decade”, which the brand says will be available only as an EV in the medium term.

The EV push continues with the next-generation, fully electric Cayenne, and there will be a new model positioned above the Cayenne which will offer “strong performance and automated driving functions,” along with a new experience inside the vehicle. The forthcoming SUV model above the Cayenne will be built on the SSP Sport platform, says Porsche.

Ahead of the next-generation, all-electric Cayenne, the current third-generation model will get a comprehensive update this year

The SSP architecture, short for Scalable Systems Platform, will be used group-wide across brands including Volkswagen, Audi, Porsche and Bentley, will eventually replace the Modular Transverse Toolkit (MQB), Modular Standard Drivetrain Matrix (MSB), Modular Longitudinal Matrix (MLB), as well as the more recent Modular Electric Drive Matrix (MEB) and Premium Platform Electric (PPE).

As for the current, third-generation Cayenne itself, the SUV will be due to receive this year what Porsche describes as one of the most comprehensive upgrades in its history. To come are three plug-in hybrid variants with greater range, while a new chassis is set to offer an even wider range of ability, says Porsche.

Beyond its product portfolio, Porsche has also aimed for a net carbon-neutral value chain for its vehicles in 2030, and this includes a net carbon-neutral phase for battery-electric vehicles; this is based on an assumed total mileage of 200,000 km per vehicle.

With a considerable 70% of all Porsche 911s produced since 1963 still on the road, Porsche has invested a long-term stake in carbon-neutral fuels producer HIF Global for the production of synthetic fuels.

The post Porsche records RM181 billion in revenue for 2022; Macan EV in 2024, large SUV above Cayenne to come appeared first on Paul Tan's Automotive News.

* This article was originally published here
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