Porsche’s Electric Car Problem

By Douglas McIntyre • July 23, 2024

Arlind D Pexels

Porsche has discovered that very few people want to buy its electric cars. It blamed recent weak financial results on a lack of parts. The EV issue was no less a contributor.

The Porsche EVs are expensive, often in the $100,000 or above range. That means the universe of buyers is tiny. Many probably buy the high-end Teslas, BMWs, or Mercedes.

Sports car company Porsche announced it was well behind its EV target ambitions. Management said that 80% of its sales by 2030 would be EVs. It changed that. Today, it said it could only reach that figure if customer demand justified it. The German company said, “The transition to electric cars is taking longer than we thought five years ago.” Two of its models are EVs. One is the Tacan sedan. The other is an electric-powered version of its popular crossover Macan.

Too Expensive

Climatecrisis247 believes that Porsche is the most recent car company to say consumer demand for EVs is insufficient to meet sales goals. And trends are such that, if anything, people still want gas-powered cars because they worry about charging time, range, and price. Even Ford Is Having Trouble Selling EVs