Foreign luxury cars are collectively in a slump
Posted: Tue Feb 11, 2025 5:08 am
Are foreign-funded automobile brands no longer popular? Audi, BMW, and Porsche all saw sales decline in China
With the rise of Chinese domestic auto brands, sales of foreign auto brands in China have slumped.
Audi, BMW, Porsche, Toyota and Honda all saw a collective decline in sales in China. Among them, Honda's sales in the Chinese market in 2024 fell by 30.9%, and Porsche's sales in the Chinese market fell by 28% year-on-year, and has been declining for three consecutive years.
On January 13, several foreign automakers including Audi, BMW, and Porsche disclosed their sales figures for 2024.
Data shows that in 2024, Porsche delivered 310,718 vehicles worldwide, a year-on-year decline of 3%.
Specifically, Porsche delivered 75,900 vehicles in student data Europe (excluding Germany), an increase of 8% year-on-year; in the German domestic market, 35,900 vehicles were delivered, an increase of 11% year-on-year; North America once again became the largest sales region with 86,500 vehicles delivered, an increase of 1% compared with last year. However, in the Chinese market, Porsche's deliveries in 2024 were 56,900 vehicles, a 28% year-on-year drop.
Since 2022, Porsche's sales in China have begun to decline. Sales volumes from 2021 to 2024 will be 95,700, 93,200, 79,300 and 56,900 respectively.
In response to the sharp decline in the Chinese market, Porsche said that the company's sales have declined due to the impact of the overall economic environment. Porsche is adhering to a value-oriented sales approach and striving to achieve a balance between demand and sales in China.
As for BBA, sales in the global and Chinese markets will also decline in 2024 .
Audi's global sales in 2024 were 1.67 million vehicles, a year-on-year decrease of 11.8%; sales in the Chinese market fell 10.9% year-on-year to 649,400 vehicles.
BMW's global sales in 2024 were 2.4508 million vehicles, a year-on-year decrease of 4%; sales in the Chinese market were 714,500 vehicles, a year-on-year decrease of 13%.
With the rise of Chinese domestic auto brands, sales of foreign auto brands in China have slumped.
Audi, BMW, Porsche, Toyota and Honda all saw a collective decline in sales in China. Among them, Honda's sales in the Chinese market in 2024 fell by 30.9%, and Porsche's sales in the Chinese market fell by 28% year-on-year, and has been declining for three consecutive years.
On January 13, several foreign automakers including Audi, BMW, and Porsche disclosed their sales figures for 2024.
Data shows that in 2024, Porsche delivered 310,718 vehicles worldwide, a year-on-year decline of 3%.
Specifically, Porsche delivered 75,900 vehicles in student data Europe (excluding Germany), an increase of 8% year-on-year; in the German domestic market, 35,900 vehicles were delivered, an increase of 11% year-on-year; North America once again became the largest sales region with 86,500 vehicles delivered, an increase of 1% compared with last year. However, in the Chinese market, Porsche's deliveries in 2024 were 56,900 vehicles, a 28% year-on-year drop.
Since 2022, Porsche's sales in China have begun to decline. Sales volumes from 2021 to 2024 will be 95,700, 93,200, 79,300 and 56,900 respectively.
In response to the sharp decline in the Chinese market, Porsche said that the company's sales have declined due to the impact of the overall economic environment. Porsche is adhering to a value-oriented sales approach and striving to achieve a balance between demand and sales in China.
As for BBA, sales in the global and Chinese markets will also decline in 2024 .
Audi's global sales in 2024 were 1.67 million vehicles, a year-on-year decrease of 11.8%; sales in the Chinese market fell 10.9% year-on-year to 649,400 vehicles.
BMW's global sales in 2024 were 2.4508 million vehicles, a year-on-year decrease of 4%; sales in the Chinese market were 714,500 vehicles, a year-on-year decrease of 13%.