A plunge of 42%, the automotive circle is completely in an uproar, and the CEO of Porsche finally admitted it!

This weekend, a big message came from Porsche. In the first quarter of 2025, Porsche sold only 71,400 new vehicles globally, down 8% compared to this time last year. Many people said, isn't this not scaremongering? Yes, looking at the global picture, Porsche's overall 8% decline is more resilient than Mercedes-Benz, BMW, and Audi.

But what Porsche really cares about is that its products are no longer popular in the Chinese market. Data shows that in the first quarter this year, Porsche sold more than 9,000 vehicles in the Chinese market, less than 10,000. What does this mean? Compared to this time last year, it has dropped by more than 42%, almost half gone.

You should know that the Chinese market is Porsche's biggest customer. Four years ago, the Chinese market accounted for more than 30% of Porsche's global market, meaning that one out of every three cars Porsche sold was bought by Chinese consumers. This quarter is not an exception; Porsche had already declined by 28% last year, with a market share of only 13%.

As soon as the news came out, the entire automotive industry was in an uproar because everyone found it hard to imagine that even luxury brands like Porsche were losing popularity. The CEO of Porsche also chose to face this openly, publicly stating that they had anticipated such a situation. But it is worth noting that the CEO of Porsche finally admitted that China's electrification speed far exceeded their imagination.

What does this mean? That is, in the era of internal combustion engines, Porsche could afford to look down on Chinese cars. But now, in the era of new energy, Porsche is relatively behind. Porsche also sees the rapid development of China's new energy technology, which not only exceeds Porsche's expectations but also exceeds those of all imported vehicles.

In other words, the rise of domestic cars has had a certain impact on Porsche. Before, we thought that new energy vehicles would only shake up the market of mid-to-high-end brands like Toyota, Honda, and Nissan, but we didn't expect it to affect the high-end car market. We see the decline of Porsche, Mercedes-Benz, BMW, and Audi, while on the other side, we see significant growth from Huawei AITO, NIO, and Li Auto.

Cars are just a microcosm. So is the mobile phone industry; before, there were only Apple and Samsung in the high-end mobile phone market, but now Huawei and Xiaomi have surged to the front. There are also footwear and apparel; before, it was Adidas and Nike, but now Anta and Peak Sport are not inferior. Recently, I saw some data showing that the sales of various new-style Hanfu on domestic platforms like Vipshop have seen a significant increase, with a not insignificant proportion of consumption by post-95s. This means that now not only is domestic brands rising, but consumer attitudes have also completely shifted.

Today, the CEO of Porsche publicly acknowledges that the speed of China's automobile development has exceeded their imagination. We should also see that in the era of internal combustion engines, imported vehicles were indeed more advanced. But in the new energy era, Chinese automobiles have caught up and are even leading the way. The definition of traditional luxury cars is being redefined!

Original article: https://www.toutiao.com/article/1829381162490186/

Disclaimer: The article represents the author's personal views.