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Announcing Porsche's results during the presentation of the company's results, it was revealed that the SUV Cayenne, one of the company's most popular models, will gradually switch to an electric drivetrain in the near future and will become exclusively electric in the long run.
Porsche ended last year with sales of 37.6 billion euros (+13.6%) and profits of 6.8 billion euros (+27.4%). This has provided Porsche with the reason to announce even more ambitious plans for the next period. According to the company's long-term plans, the company's profit margin will climb to 20% within five years, up from the current margin of 16%.
As a result of the nearly 310,000 vehicles they delivered in 2022, in addition to achieving record business results the year was also marked by the listing of shares on the stock exchange, which made 2022 a very significant year for the company.
A similar strategy will be followed in the coming years, with cars that embody "modern luxury" placed on the market, but the product range will be expanded to include sports cars and limited-run vehicles, which will lead to further profits.
Electrification
There is a lot of emphasis on electrification in Porsche's strategy, so it makes sense that that plan is also quite ambitious. During the first half of the decade, the fully electrified Macan will be introduced to the market, and then Porsche's fully electrified 718 sports car will be launched towards the middle of the decade.
Then, as part of the electrification process, the current best-selling car, the Porsche Cayenne, will also be added to the list. As the fourth generation of the SUV is developed, it will be available with fossil fuel engines, as a plug-in hybrid vehicle, and as a fully electric vehicle as well.
It is anticipated that it may be available on the market in all three versions in 2026 if everything goes according to plan. With three improved plug-in hybrid powertrains, the Cayenne's third generation will have even greater electric range.
As a first step, Porsche wants to supply the market with 80% electric vehicles by 2030. Cayenne's new generation will have goals to achieve.