Porsche increases 2023 deliveries despite China slump

BERLIN (Reuters) – Luxury carmaker Porsche increased its deliveries by 3% in 2023, with 320,221 vehicles delivered worldwide, as growth in Europe and North America offset a challenging market in China, the company said on Friday.

Deliveries increased by 12% year-on-year in Europe, excluding the home market Germany, which saw a 10% increase, Porsche said. In North America, the company saw a 9% rise.

In China, deliveries dropped by 15% in 2023, “mainly due to the ongoing challenging economic situation in the region,” the company said in a statement.

(Reporting by Christina Amann, Writing by Rachel More, Editing by Miranda Murray)