Porsche plans to significantly raise the cost of their cars from the middle of this year to keep making money in spite of facing some big problems, according to what Lutz Meschke said on a earnings call on Monday.
The price of the Macan, 718 and Cayenne cars will be higher if you buy the electric versions of them. According to Mr. Meschke, these electric versions will cost about 10-15% more compared to the regular gas-powered versions which will still be available for some time.
The electric Macan will be available in the beginning of 2024. Afterwards, the electric 718 should come out around 2025 and then, right after that, the electric Cayenne may become available. Finally – sometime in 2027 there will be a new flagship SUV with three rows of seats that only runs on electricity.
Porsche can raise their prices because lots of people want to buy their cars and most customers have plenty of money. A company representative said this at Porsche’s annual meeting yesterday.
This year, Porsche did really well: their sales and earnings were higher than ever before. They made 18% more profits in 2022 compared to 2021.
For 2023, Porsche wants to keep making 17-19% profits and eventually reach a goal of over 20%. This is what they call the “Road to 20” plan that they announced on Monday.
Price increases are taking place so that Porsche can reach its targets and make up for the expensive investment they put into electric-vehicle technology. The company is also feeling pressure from a tight supply chain, conflict in some areas of the world, and general rising costs.
“We’re making Porsche even more secure and powerful than ever with the Road to 20 plan,” said Meschke. “So we’re looking into every single aspect – from the different products we have to pricing to our costs.”