(RTTNews) - Porsche AG (P911.DE) announced it delivered a total of 60,991 vehicles to customers worldwide in the first quarter compared to 71,470, a year ago, a decline of 15 percent. The company said key reasons include the end of production of the combustion-engined 718 model, the strong ramp-up phase of the all-electric Macan in the same period of the year before, and the discontinuation of tax incentives for electric and hybrid vehicles in the United States.
For the first quarter, the 911 model deliveries increased by 22 percent year on year. The company said, in the coming months, its focus will be on the market launch of the all-electric Cayenne, which will be delivered to first customers from summer onwards.
"Following the end of the combustion-engined 718 and the strong deliveries of the fully electric Macan at market launch, our figures are below the prior-year level but are overall in line with our expectations," said Matthias Becker, Member of the Executive Board for Sales and Marketing at Porsche AG.
Porsche shares are trading at 32.24 euros, down 0.12%.
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