BySean Tucker05/04/2023 8:32am
Porsche plans to raise prices on much of its lineup by between 4% and 8% in the second half of the year, the company announced this week. The move, Reuters says, will “combat higher costs that weighed on returns in the first quarter.”
Chief Financial Officer Lutz Meschke announced the news on a call with investors discussing first-quarter financial returns.
The company had a gangbusters first quarter, with profits and revenue jumping more than 25%. It delivered 18% more cars in the first quarter but still has a backlog of orders for some models.
Meschke didn’t give specifics for most of the planned increases this year. But we know a few ballpark figures in the longer term. In March, Meschke told reporters to expect a 10-15% increase in the price of the Macan small SUV as the model goes electric for its next generation. Today’s gas-powered Macan starts at $60,900.
Motor1 reports, “Lutz Meschke also said the 718 electric replacements due around 2025 will also be up to 15 percent more expensive.”
Sean Tucker is an author specializing in covering the automotive and energy industries from a consumer's viewpoint. As a reviewer and consumer advocate, his work has appeared in U.S. News and World Report, Yahoo Autos, MSN, Dub Magazine, and more. He's been an expert guest discussing car shopping on cable news. He has also served as both reporter and lead editor for energy and insurance industry… Read more about Sean Tucker
