Porsche adapts strategy due to declining China sales

Porsche's sales in China have dropped for two consecutive years, with a 15% decline in 2023 followed by a 28% decrease in 2024. This marks a record decline for the brand in its key market. In response, Porsche is shifting to a "value over volume" strategy, focusing on customization and technology to meet the needs of Chinese customers. The company aims to balance demand and sales while maintaining its core brand values. Porsche acknowledges that competition in China is intensifying, with local brands offering appealing alternatives at lower prices. The company is adapting its approach but faces challenges from these emerging rivals.