Porsche Enjoys Record Sales, Invests In EVs

Luxury carmaker Porsche reported record sales Thursday as the company looks to further invest in their all-electric Taycan.

Porsche’s second-quarter earnings increased 55% compared to last year. The Taycan is about 15% of their overall demand volume, Porsche Cars North America CEO Kjell Gruner told CNBC on Thursday.

“We are enjoying really high demand with all our vehicle lines,” Gruner said. “People enjoy the customer experience. And yes, we have a very strong product portfolio.”

The brand is focusing on future investments into full-electric cars, plug-in hybrid models and internal combustion engines as their strategy to dominate the EV market. It is now competing with top electric-vehicle makers like Tesla.

Porsche said sales of the all-electric Taycan model, introduced in 2019, are already equal to that of its iconic 911 model. New sales are coming from current Porsche owners as well as its competitors, like Audi, BMW and Mercedes-Benz.

“We want current Porsche owners to accept the Taycan as a part of the family, that they realize this is a Porsche,” Gruner said.