Luxury automaker Dr. Ing. h.c. F. Porsche AG DRPRF DRPRY delivered a total of 242,722 vehicles worldwide between January and September 2023, a 10% increase year-on-year.
However, a contrasting 12% slump was observed in China, resulting in 60,748 units delivered in the region. Porsche attributes this decline to the ongoing economic challenges China is grappling with.
Every market, excluding China, marked positive growth for Porsche. In Europe, Porsche delivered 51,742 vehicles in the first nine months, an increase of 23% in Y/Y.
In the home market of Germany, deliveries registered a 19% climb, and in the overseas and emerging markets, deliveries increased 23%.
Price Action: DRPRF shares closed lower by 1.56% at $9.43 on Thursday.
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