After deliveries of its sole electric vehicle fell in the first quarter, Porsche says Taycan production is due for a “very steep ramp-up.”
Porsche set to increase Taycan production
Porsche delivered 9,151 Taycan electric models in the first quarter of 2023, down 3% from 9,470 in Q1 2022 and a decline of 73% from the 34,801 models delivered in Q4.
The drop comes despite Porsche’s overall deliveries rising 18% YOY to over 80,700 vehicles, up from 68,426 the previous year. As a result, Porsche’s total BEV share fell to 11.4% compared to nearly 14% last year.
According to Porsche’s Q1 earnings released Wednesday, the company says the supply chain and parts availability was “disproportionately high” with the Taycan compared to its other models.
However, that is about to change. Porsche CFO Lutz Meschke said, “The focus in the first quarter for the Taycan was to deliver spare [high-voltage heaters] for our existing customers, according to Autocar.
With a limited number of Taycan EVs equipped with defective heating systems, Porsche prioritized replacing the faulty units in models already sold rather than using them in new models. Meschke explained:
Now we’re in a very steep ramp-up curve together with our supplier when it comes to the higher-voltage heating system, and therefore we expect an increase in the BEV share in the upcoming months.
He added that Porsche is very confident it will reach its EV share target of around 12% to 14% in 2023.
Despite the demand for the Taycan remaining strong, according to Meschke, the shrinking EV share is “only caused by supply-chain disruptions and limited parts availability,” an issue that has since been resolved.
After hitting a milestone by producing its 100,000th Taycan electric model last November, many saw the EV as a major success for the performance automaker.
Meschke makes it clear that the delivery decline is due to supply chain issues and not a demand problem.
With plans to rapidly accelerate Taycan production, we should see Porsche’s EV share rise again. Meanwhile, the Taycan is Porsche’s only fully electric vehicle at the moment. The all-electric Macan model was expected out by now but won’t be released until next year.
Following that, an electric Boxster or Cayman two-seater will be released in 2025, and finally, the electric Porsche Cayenne is expected to roll out in 2026.