Porsche Automobil Holding SE (ETR:PSHG_p) said global deliveries fell 16% in the first half of 2026 as a mix of regional demand weakness and changes to U.S. incentives for alternative powertrains offset continued strength in its flagship 911 sports car.
The luxury carmaker delivered 122,306 vehicles in the first six months of the year, down from 146,391 in the same period a year earlier. Porsche pointed to several drivers of the decline, including the discontinuation of the combustion-engined 718 models, a tougher sales environment in China and the expiry of U.S. tax incentives for electric and hybrid vehicles that dampened EV uptake.
Regional performance varied. China emerged as the weakest major market for Porsche, with deliveries dropping 32% to 14,501 units as the company continued to prioritize "value-oriented sales" amid intense competition. North America, Porsche's largest regional market, recorded a 13% fall to 37,712 vehicles. Deliveries in Europe excluding Germany were down 14%, while Germany saw a smaller 6% decline.
Model performance showed a mixed picture. The 911 continued to buck the overall downtrend, with deliveries up 19% to 30,534 cars, driven by ongoing customer interest and the staged introduction of new derivatives. The Cayenne remained Porsche's top-selling model at 38,141 units. By contrast, Macan deliveries decreased 22% and Taycan deliveries fell 25%.
Production of the combustion-engined 718 came to an end in late 2025, which contributed to a steep 73% drop in 718 deliveries in the first half of 2026.
On the market, Porsche AG shares edged lower, falling 0.3% to EUR 27.12 and underperforming the broader DAX index, which was trading higher in afternoon activity.
Board Member for Sales and Marketing Matthias Becker said first-half deliveries were in line with the company's expectations. The company also highlighted the recent introduction of the Cayenne Electric and said it will provide more detail on its Strategy 2035 at its upcoming Capital Markets Day later in the year.
The results extend a challenging period for the automaker as it seeks to restore growth in the face of softer China demand, slower-than-expected EV adoption in some markets after incentive changes, and wider headwinds in the premium automotive sector.
Key data recap
- Total H1 deliveries: 122,306 (down from 146,391 a year earlier)
- China: -32% to 14,501 units
- North America: -13% to 37,712 units
- Europe excl. Germany: -14%
- Germany: -6%
- 911 deliveries: +19% to 30,534 units
- Cayenne: 38,141 units (best-selling model)
- Macan: -22%; Taycan: -25%; 718: -73%