Porsche shares made their stock market debut on Thursday in one of the largest public offerings ever in Europe.
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Porsche It managed to grow its global deliveries by 2.6% last year despite worldwide supply chain issues that have crippled other carmakers as well as sales of its first all-electric car.
German sports car manufacturer said thursday It delivered 309,884 vehicles to customers last year, up from 301,915 vehicles in 2021.
“Many challenges due to the war in Ukraine, disrupted supply chains and the ongoing semiconductor crisis shaped the past year and put us to the test,” Detlev von Platen, Porsche’s head of sales and marketing, said in a release.
Luxury vehicles have fared better than mainstream models amid high interest rates and inflationary pressures. ultra-luxury automaker Bentley and Both Rolls-Royce Reported record sales last year.
US sales of Porsche overcame an estimated 8% to 9% decline in overall auto sales in 2022.
A slight increase in Porsche sales last year was a 13% increase in overseas and emerging markets, followed by a 5.8% increase in Europe. Its sales in North America were flat, and deliveries in China declined by about 2%.
Porsche’s US sales were essentially level for the year, increasing by only 40 units to 70,065 vehicles. The biggest increase in sales was a 22.5% increase in the Cayenne crossover. Most other models experienced significant declines, including a drop of about 23% in sales. Porsche’s all-electric Taycan for 7,271 units.
The carmaker said the decline in Taycan sales, including a 16% drop worldwide, was “due to supply chain constraints and limited component availability.”